A few years have passed when the mass media claimed that Bitcoin is the technological and financial breakthrough. Today the majority of people have become accustomed to the idea of a new form of money, many of them even managed to join the cryptocurrency holders.
The online shops are increasingly accepting payments in bitcoin but in spite of the general disposition to digital money, buyers are in no hurry to part with their bitcoins for the purpose of shopping.
The part of bitcoins used as a method of payment is extremely small compared to the traditional means of payment: UPT (unattended payment terminal), credit/debit card, electronic payment system, etc. It may seem that the cryptocurrency holders wait for the next jump of bitcoin price while their coins are covering with the digital dust. Actually, it's not quite true. According to statistics, bitcoins are frequently used in exchange transactions where the average number is 200 thousand bitcoins per day. Only 5000 bitcoins are used as means of payment daily.
However this is not the fault of owners of online stores, because usually there are no additional restrictions for those who are paying with bitcoin. It turns out that the low use of digital money for its intended purpose is a conscious decision of bitcoin users. That's the problem.
The fact is that plummeting exchange rate spurred people on considering bitcoin as a way to get easy money or as an investment in the best case. But you should realize that was emerging of the new era of digital money. At first when the quantity of BTC users was rapidly growing, even a relatively small number of the new people getting involved in Bitcoin technology (compared to the current amount) caused an extreme rise of the BTC value. In future the rate will be much more stable, despite the fact that it depends on the demand in the currency market.
In addition, Bitcoin is steady going because more and more big companies, including Microsoft, Expedia, and Overstock.com, make it possible to pay for your order with bitcoin. It gives a range of advantages for clients:
- It’s time-saving. Each transaction takes up to ten minutes.
- It’s money-saving. Bitcoin transaction fee is incomparably lower than any other payment system. Especially you will appreciate this when you need to transfer a huge amount of money.
- It’s convenient. When you are shopping in foreign online stores you don’t need to convert the money into another currency.
- It’s simple. To pay with bitcoin is much easier than any other way. Even if earlier learning how to work with traditional payment systems was the biggest challenge ever for you, be sure there is no such problems with Bitcoin. You can not imagine how simple the process of BTC operations.
- It’s secure. Bitcoin wallet is much more safe than your credit card or account of any other payment system.
- It's transparent. You can check every transaction on blockchain.info.
Although investing in Bitcoin makes sense, the cryptocurrency should not be considered in this aspect alone. Initially Bitcoin was created to let people forget about the common topical problems of the banking system: high fees, delay of payments, etc. You should remember this. Just use bitcoins as conventional money, pay with bitcoin for goods and services and enjoy its advantages.