Cryptocurrency continues to increase in popularity with people all over the world. As a universal, digital standard, more and more people are investing in currencies such as Bitcoin from territory to territory. But what is it that makes Bitcoin so popular?
Many propose that the private nature of Bitcoin is likely to drive its main core popularity. What’s more, there is very little red tape! It’s quick and easy to trade in cryptocurrency from country to country. So – why is it not yet mainstream?
The answer is complicated, but trends show paying for casino games with Bitcoin, is on the increase. In fact, that is to such an extent that there are now online casinos such as Bitcasino and BitStarz trading on the fact that they accept crypto!
Still not Mainstream
While cryptocurrency is hugely popular in many markets and across the world, it is still a pretty unknown entity. This is to such a point that some countries aren’t sure how to legalize it! Countries like Australia are widely adopting Bitcoin in shops and stores. Other countries, like the UK, aren’t too clear on how to amend local laws.
It’s safe to say that Bitcoin is yet to ‘break through.’ That is despite the fact that it has been around since 2009, and that plenty of traders are making money through basic investing. What’s holding the currency back, it seems, is businesses not being too keen to adopt Bitcoin outright.
Should Businesses Adopt Bitcoin?
There’s a pretty strong argument for smaller businesses taking on Bitcoin, at least. Some big companies are likely to be holding back from taking on the currency, as it is often seen as a fairly significant risk.
That is because Bitcoin is relatively volatile. That means it is likely to drop in value as often as it can spike. Unlike traditional money, sometimes called fiat currency, the markets for cryptocurrency are less likely to be so stable.
Bitcoin and other cryptocurrencies are not regulated. That means that some big companies might be slow to adapt to money that has no firm grounding. However, it is already clear that crypto such as Bitcoin is here to say – so why aren’t more companies taking advantage?
More and more of us are making money online – why shouldn’t we be able to make digital money, too, and spend it as we wish?
We’re already seeing some companies and brands warm up to Bitcoin and cryptocurrency in general. This is great news, but there is some way to go before you can readily use digital money across all stores and platforms.
The idea of a universal currency is very appealing. As the world is shrinking thanks to the internet, why wouldn’t we start trading with a single form of money? Things are a little more complicated than they may seem, sadly.
However, as more companies and brands invest in crypto, the more others will follow suit. Bitcoin remains somewhat volatile – but in the years to come, we could all be using it to buy groceries with!