Purchasing With Bitcoin Online
If Amazon accepted Bitcoin as payment, how many would use it?
Online shopping has become a real thing. Perhaps more convenient than physical stores. Customers buy from home with comfort, and the seller can reach more people. They’re constantly trading with virtual money.
We know it’s not as real as cash, but we still use it because it’s useful. Could it happen the same with cryptocurrency?
Purchasing (and selling) with Bitcoin online
Is Bitcoin a viable payment method? First, let’s look at the many benefits that only cryptocurrencies have.
- Global expansion. Does it matter if you use real currency or crypto? Bitcoin is becoming accepted worldwide, so you won’t spend on currency-conversion fees. When buying from other countries, the rates are below 3% compared to the average 10%-15%.
- Growth. Despite the price changes, Bitcoin will grow as more people start using it, which is a matter of time. If you keep crypto-currency for the long term, you’ll likely make free money more often than not.
- Upcoming Trend. If you bought Bitcoin, wouldn’t it be great if it became more valuable? The average investor may wait and hope for a surge. Active investors take action to ensure it grows.
Today, you can find pro-bitcoin programs everywhere. Brands accept crypto as payment. Others create cashback rewards to attract users. Some companies pay you to use the currency or merely educate about Bitcoin!o
Why Bitcoin Is An Opportunity For Shoppers
Despite the popularity, most business owners aren’t big fans of Bitcoin. They may like the idea of trading or buying with crypto, but not selling it.
Would you like your clients to pay you with a volatile currency? How could you calculate your profit margins? As soon as prices change, the equation is different.
As a buyer, you’d be buying at either inflated or bargain prices. You’d wait until prices go down to buy what you want.
But what if you are a habitual buyer? How would it be to pay a different price for the items you buy every day?
All of it sounds confusing, which is why Bitcoin commerce is mostly restricted today. Some shops are bitcoin-only for this reason.
Should You Be Purchasing With Bitcoin Online?
For a buyer, Bitcoin may mean lower fees, cashback rewards, and occasional super-deals. But crypto has it’s cons too, such as security and no refunds.
You may buy other altcoins to diversify and protect your money. But you’re still dealing with volatile currencies; all of them are hard to predict.
As a payment method, it may not be reliable for sellers. Today, Bitcoin gives the advantage to buyers because of the price increases when they use it.
Why are global currencies more stable than crypto? Many more people use them, so it takes a bigger am0unt to change the coin value. If Bitcoin surges or crashes, it will likely be a trading coincidence, not a real trend.
The more people buy using Bitcoin, the more consistent its price becomes. Eventually, it may become a global currency, and more businesses will accept it.
Although Bitcoin fluctuates every day, it’s becoming less and less volatile. That creates great trading opportunities today and reliable commerce in the future.
Editor’s note: This article is a guest post written by our colleague Stefan who runs the BMS2019 website on Bitcoin and crypto mining.