If you’ve been watching the news for the past month or so, you’ve no doubt seen a story or two about bitcoin. For many years, this cryptocurrency has been a favorite of Magic The Gathering fans and those looking to get addicted to chemicals without getting caught by the authorities.
With each passing day, bitcoins are finding their way into the major markets, poised to become a true alternative to government-issued money. On top of all this, there is a steadily growing “exchange” of Bitcoins, making smart traders a fortune. Could you be one of those day traders? Will Your Favorite Online Store Take Bitcoin? Let’s explore below so you can better understand why buying Bitcoins now.
The exchange rates are favorable at the moment
Most people who choose to buy bitcoins do so for the value of the investment. A little over a year ago, bitcoins were worth about $40 each. Last month, the coin reached an all-time high of around $206 and is currently stable in the $100 range. Fortunes were made by buying and selling bitcoins at the right time.
The Bitcoin mini bubble burst last month, which has some novice investors worried; But this is actually a consistent event. The important thing to realize is that every time a coin recovers, it jumps to a higher value. It is volatile but very profitable. Additionally, with a limited number of bitcoins in circulation, the value is expected to continue rising for the foreseeable future.
New Websites Take Bitcoin Every Day
What is driving this growth though? It’s not just speculation, this would cause Bitcoin to crash like many other cryptocurrencies in the past. Bitcoin survives and continues to grow as it is already seeing adoption online. Currently, this is limited to individual outlets. Online clothing stores, service providers (coding, design, etc.) and other “new” products make up the majority of bitcoin users so far; But they are only the first wave.
Currently, PayPal is trying to find a way to adopt Bitcoin in its current model, which may mean that the eBay partner is not far behind. This will lead to an explosion in the use of Bitcoin online. But there’s also an offline presence, with the first Bitcoin ATM opening earlier this month. Content aggregator Reddit had a post earlier this week depicting a convenience store with their “We Accept Bitcoin” sticker, and the only thing holding them back is better execution.
Bitcoin is still in the ‘ground floor’ stage
The biggest reason to buy Bitcoins is that this coin is still on the ground floor. All indications are that the currency is experiencing huge leaps in value and execution in the near future. Those who have already invested in Bitcoin, and those who have jumped in in the near future, expect to see huge returns on their investment.
Will you make the wise choice, or will you kick yourself for missing the next big thing?