Education is Required for the Long Term Success of Bitcoin

December 27, 2017 by Adrian Thorpe

The number of retail outlets and online merchants that do accept Bitcoin as one of their payment methods is slowly growing in number. However, education of those retailers and merchants that do not currently accept it is required.

The more retailers and online merchants that become aware of the ease at which they can accept payments from their customers, and also the relatively low costs of doing such transactions will ensure the long term success of that digital currency.

However, with Bitcoin currently experiencing massive volatility many retailers may be put off accepting it as one of their available payment methods, for they could lose out on the value of the goods they sell if the value of Bitcoin does decrease at any time, which is of course something it can and does do.

The more people that start to use Bitcoin however is eventually going to force the hand of many retailers and suppliers of goods in any environment, but it is worth noting that those that do currently accept it as one of their available payment methods are stealing a march on all of their rivals.

There is no getting away from the fact that hate it or love it, Bitcoin is here to stay, and rather than take a wait and see approach most forward thinking companies and businesses are very eager to accept Bitcoin payments and offer them to their currency and new customers too.

Gambling Sites Increasing their Player Base Thanks to Bitcoin

One industry that is proving to be a perfect link up with Bitcoin is of course the online gambling industry. Many countries of the world have weird ad some rather wonderful laws in place in regards to payments that can and cannot be made to gambling sites.

As such thanks to the anonymous way Bitcoin transactions work, gambling sites are able to accept players from countries in which gamblers do experience problems being able to make deposits using some of the more standard payment options.

Those gambling sites are of course also going to be able to pay out their winning players as good as instantly when one of their customers does have a Bitcoin Wallet, and fast payments for some gamblers have been hard to achieve when using other payment methods.

The number of gambling sites, which can and do now accept Bitcoin payments include poker sites, bingo and casino sites and betting sites, and as more and more people become aware of Bitcoin and start to use it those sites that have had the foresight to make it an available banking options at their respective sites are always going to be the first choice new customers will choose to sign up to.

It does have to be said through that many people look at investing in Bitcoin as gambling in its own right, and people have already made great fortunes by buying it low and selling it as its value has increased, but the opposite is of course also very true!

Many People Keep Their Bitcoin Investing Secret

For some people Bitcoin is their dirty little secret and as such they will be buying and selling Bitcoin and could be using it to pay for all manner of different goods and services but will not let other people they know become aware they are a user of that digital currency.

There is no shame in owning any quantity of Bitcoin or even using it to pay for goods or services, however as many people still associate Bitcoin with illegal activities, that is probably the one main reason why people do not let others know they are an active user or investor in that digital currency.

If you have been thinking about buying Bitcoin for any purpose, then as long as you familiarise yourself with the risks and are prepared to live with the volatility of that digital currency then there is nothing stopping you using it.

However, keep in mind if you simply want to buy Bitcoin as an investment then never be swayed in regards to when to either buy or sell it based on the opinions or advice of other so called experts, no one is an expert on Bitcoin and no one yet has come up with any failsafe system for being able to accurately predict when its value is going to rise or fall, so do always keep that in mind and make your own decisions on when to buy or sell it.