The benefits of Bitcoin are myriad. At one time, this alternative currency, traded via online websites, was confined to geek circles. The currency is now accepted by most major financial institutions, and there is a widespread belief that the value of Bitcoin will continue to grow, and eventually reach parity with the U.S. dollar.
But what if Bitcoin were a truly global currency, would-be profit seekers asked. Would people around the world accept Bitcoin for payment, or would they balk at the idea of using such a volatile and unpredictable financial instrument?
Since there is no need to worry about regulatory issues, and since virtually any country can have a local merchant processor that accepts the currency, it is likely that many countries would accept Bitcoin as a means of exchange. If we add to that the possibility that some companies would start accepting the digital currency in lieu of other forms of payment, it would seem obvious that not only would the acceptance and usage be widespread but also that prices would continue to appreciate as demand grew.
But what is the deal behind that demand? Is there really an appreciating value that is going to drive up the price of bitcoins and push other goods and services out of reach? As it turns out, yes. Here’s how…
First, anyone can get into the game. With the currency available, anyone can trade bitcoin with anyone else, even across borders. The community of buyers and sellers is huge and growing every day.
Second, the potential buyers are, in a way, following in the footsteps of the pioneers. They are helping to build a global network. A Bitcoin network is growing globally, which is great news for all involved.
Third, potential buyers don’t have to buy the currency in order to buy anything. Many merchants around the world accept the currency as payment, and the cost of the transaction is incredibly low. Remember, the cost of the average thing in the U.S. is higher than the cost of a single bitcoin.
And last, potential buyers and sellers can receive a hefty profit on their investment, as their currencies begin to appreciate. All you need to do is find a dealer with access to a lot of listings and pay them a handsome commission. (This is one reason it is so important to shop for the currency on an online marketplace.)
Since so many potential buyers and sellers will be attracted to the currency, the price of bitcoins will appreciate. And since these digital coins are relatively safe investments, a person looking to purchase a good for resale will feel comfortable in doing so. For instance, after investing in bitcoins and then selling them for cash, someone could turn around and use those proceeds to purchase a good or service, or even invest in a business.
Over time, this trend could create a network effect, where more people become interested in buying and selling bitcoins, and the price will go up. Those who bought early may enjoy the best deals, and the financial investment will produce a handsome profit. Meanwhile, the new investors will see the value of the currency rising, and that will fuel a strong desire to buy more.
We’ve shown how easy it is to buy and sell bitcoins and what you need to do is consider joining the network of potential buyers and sellers. Once you do, the advantages of the currency, and the ease of setting up a system that works for you, will become clear.