For the knowledgeable investor, the world of bitcoin offers a multitude of possibilities. Bitcoin is an internet based currency that can be exchanged for dollars, pesos, lira, pounds or any number of other monetary units. Therefor it can be exchanged like other forms of money which fluctuate across the globe in the international marketplace. There are many advantages to investing in this form of currency as opposed to the others. One of the strongest arguments in favor of investing in bitcoin is that it is not controlled and regulated by a single governmental entity. This means that it is not tied to things like oil spills, wars, a country’s particular economy, etc. It also means that no government can interfere with the rate of exchange for their own purposes. This cannot be stressed enough. Many stocks and investments rise and fall on the words, actions and interests of singular governments, and that can cause great turmoil for investors in those stocks.
Another reason to invest in bitcoin is its growing popularity. It has been estimated that there are approximately 12.34 million minted bitcoins circulating throughout the international community. With heavy trading and high values being reported yearly, taking advantage of bitcoin as an investment seems to be a growing trend. This is also based on the idea that electronic currency may someday become the primary method of purchasing goods. The growth of the online marketplace, led by such pioneers as Amazon and eBay, make the entrance of bitcoin as a major player extremely logical.
When considering whether or not something is a worthwhile investment, the investor must gauge the response that comes from that product’s target market. Among internet buyers and sellers, bitcoin has become a popular method for paying for items bought online. Businesses are able to begin accepting bitcoin as a currency without incurring any costs, and they can reduce their processing fees for bitcoin because there is no middle man to pay. There is also very little risk involved, for the business and the individual due to the fact that bitcoin does not allow any chargebacks. Unlike checks, charges, and even PayPal, that allow chargebacks, cancellations and customer disputes, bitcoin does not allow chargebacks at all. This allows a merchant to secure their piece of mind knowing that the money they received for an item they sold will still be theirs I the morning. As popular as this new currency is, it should be here to stay.