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The virtual market embraces Bitcoin by Fabiola Groshan





The virtual market embraces Bitcoin by
Article Posted: 09/27/2014
Article Views: 71
Articles Written: 9448
Word Count: 528
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The virtual market embraces Bitcoin


 
Business
There are very few those who haven’t heard of Bitcoin, as it is an online payment system that has gain more and more popularity recently. The software-based system is an easy to use online payment method, it’s fast and extremely safe, although its implementation took a while. When it first appeared in 2009, there weren’t too many merchants that accepted this virtual currency, because consumers were still wondering about its legitimacy, but over the years, more and more platforms began allowing consumers to buy with Bitcoin both products and services. One of the main incentives that drove online providers towards accepting this digital currency is the low fees, in fact lower than what credit card processors would take. The online gaming platforms and betting websites were among the first to join the Bitcoin adventure, but today consumers can pay with Bitcoin for clothes, beauty products and more.

At its early stages, the Bitcoin currency was thoroughly scrutinized and some governments issued strict restriction in reference to buying bitcoins. However, the current virtual market seems ready to embrace the Bitcoin, as more and more online platforms, in all industries and fields, began accepting the virtual currency. For consumers, the main advantage is security, as many individuals fear online identity fraud and are reluctant to give out credit card and bank information. When they buy with Bitcoin, none of those details are shared and transactions are protected by state of the art encryptions. Another reason for which both consumers and merchants began opening up to the idea of bitcoin is that the system itself is open. The software-based currency is open-source, which means nobody owns it. In addition, the entire virtual market is about two things and two things only: exposure and profitability. Mercahnts get online to gain exposure and increase profits, consumers buy online to find more options and cheaper prices. To that extent, Bitcoin responds to the second need, that of profitability, by involving minimal fees. In fact, it doesn’t cost you anything to pay with Bitcoin, but you can voluntarily pay a fee for speeding up the transaction process.

As mentioned above, today’s online market is more and more exposed to the Bitcoin, as an increasing number of merchants are allowing customers and clients to pay with Bitcoin. In fact, their number grew so much that there are now special platforms dedicated to informing consumers about all the stores and people accepting Bitcoin as payment. To that effect, if you are a fan of this virtual currency and you want to know from what stores or providers you can buy with Bitcoin, then all you have to do is access such a platform and browse through its listings. You will surely be impressed by the number and diversity of merchants that deal with Bitcoin today compared with the same statistics two years or three years ago. It is a clear sign that the virtual market grows stronger and stronger and it’s probably headed towards having its own currencies and e-wallet systems.

To learn more about how to buy with Bitcoin or where to pay with Bitcoin, then please follow this link.

Related Articles - buy with Bitcoin, pay with Bitcoin,

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