Why You Shouldn’t Believe In The “Bitcoin is Dead” Hype And Still Invest In Cryptocurrency

Bitcoin is off to a crazy year. Prices soared at the end of 2017, leaving bitcoin trading at near-$20,000 levels. A lot of investors became rich, and a lot of hype surrounded the boom of bitcoin.

And then came the dark side of all investments: bitcoin tumbled.

Prices fell to $7,000 and below. Today, the price of bitcoin is over $8,181, and if you’re reading this article, there’s a very good chance volatility has hit the cryptocurrency market again. It’s a new form of money.

It’s a change in the fundamental way we view currency, and while some people are crying “bitcoin is dead,” it’s far from the end of the cryptocurrency. There’s still time to invest in cryptocurrency, and it may be the right time to buy bitcoin.

Bitcoin is on the verge of something very big.

Physical currency is going to change, and the underlying technology behind bitcoin, blockchain, is set to change the world with smart contracts. Investors can’t ignore the cryptocurrency market forever.

I’ve talked extensively about how gamers can make money with cryptocurrency mining. I’ve even talked about how gamers can spend their cryptocurrency.

But now it’s time to talk about investing.

Is there any value in bitcoin? Is it worth investing in cryptocurrencies?

Yes. Adoption of cryptocurrency is just getting started. It’s time for you to pay attention before you miss your chance to buy bitcoin and other currencies before the real boom occurs.

bithumb

Bithumb to Launch Service Expanding Cryptocurrency Payments to 6,000 Stores

South Korea’s Bithumb, one of the largest cryptocurrency exchanges in the country, made waves with an announcement in March 2018 that the company is launching a new service. If you weren’t paying attention to the industry, you probably missed the announcement.

But it’s huge.

The exchange will launch a service to bring cryptocurrency payments to over 6,000 physical stores in South Korea. A major shift in the way that residents pay for their goods is coming to South Korea.

Bithumb already offered an offline payment service, and now the exchange will partner with Pay’s Service, which allows digital and mobile gift cards. Pay’s Service will bring the ability to pay with cryptocurrency to their over 200 franchise partners.

Over 6,000 brands, including Sulbing and Yankee Candle, will offer customers the option to pay in cryptocurrency.

Bithumb is just getting started on their journey of increasing adoption of bitcoin. The company expects to expand their offline cryptocurrency payments to 8,000 stores by the end of 2018. The company will continue to work with partners to increase the availability of cryptocurrency payments and has partnered with several big companies in South Korea, including Innovation Corp.

The company is also launching their own kiosks that will be placed in cafes and restaurants to allow patrons to pay with crypto payments.

bitcoin transfer globally

Cryptocurrency Makes it Easy to Move Money Around

If you’ve ever traveled to another country that doesn’t use the same currency, you know the hassle of currency conversions. It’s difficult, and most people like to convert their currency before they go on their trip because it’s a major hassle.

But cryptocurrency has the potential to change all of this.

All you need is a smartphone, and you can connect online and make payments. Imagine being able to pay for everything in the world using one currency. Life would be much easier. You can even use a hardware wallet to store all of your currency.

Hardware wallets are the size of a pen drive.
It makes sense to use cryptocurrency to move small and large amounts of money. You don’t have to deal with banks or exchanges. You also don’t have to lose any money in the process due to commissions on conversions.

One day travelers will have access to all of their money thanks to cryptocurrency adoption.

Bitcoin adoption goes perfectly with this point. Sure, you’ve probably heard of Ethereum and Litecoin, but almost everyone has heard of bitcoin. The reason bitcoin is so popular is because it’s the first.

Bitcoin started a revolution. But what you may not know is that there is a limit on the number of bitcoins that can go into circulation. Once this limit is met, there will be no more bitcoin mining. When the amount is fixed, this means that the value will become more stable and the technology in place to utilize bitcoin will truly flourish.

The main cryptocurrency in the world is bitcoin, and this isn’t likely to change any time in the near future.

Large amounts of money will continue to be transferred with bitcoin. A lot of investors in cryptocurrency view the efficiency and ease of transferring large amounts of money around the world with bitcoin as one of the currency’s main selling points.

And did I mention that when you buy bitcoin, it’s an anonymous currency?

Yes, transactions are recorded and public, but there is no physical address attached to them. The wealthy are using cryptocurrency as a way to hide their purchases and mask their identity. Major purchases are being made with cryptocurrencies because there’s no way to trace the identity of the wallet’s owner.

bitcoin atm

Bitcoin ATM Machines Exist Already

Financial institutions are already recognizing the fundamental change that cryptocurrency offers. People are flocking to bitcoin and other cryptocurrencies, and this has been met with bitcoin ATM machines.

You can use these machines to exchange your fiat money already.

It wouldn’t be hard for many of these machines to be upgraded to accept other cryptocurrencies either. The technology is already there. A simple update is enough to make many of these machines a universal ATM.

bitcoin store

Adoption at Eateries is on the Rise

People need to eat. There’s no getting around the fact that people go out to cafes and restaurants on a daily basis. When the restaurant industry starts changing their practices, the world pays attention.

A lot of independent cafes and restaurants are starting to offer people the option to buy their goods with bitcoin.

Indexes are available that list all of the restaurants in your area that are accepting cryptocurrency payments. When large-scale chains start to adopt cryptocurrency, it’s going to change everything.

All it will take is Starbucks to start accepting bitcoin and the entire industry will follow.

I’ve started to see a few service-based businesses accepting bitcoin payments. I’m talking electricians and plumbers accepting virtual currency. It’s an awesome trend, and it’s spreading like a wildfire to other businesses.

Before we know it, bitcoin will be the payment option of choice at many of the world’s eateries.

cashless payment

Urban China is Adopting Cryptocurrency and Digital Wallets

If you don’t follow China’s news, it’s time to start paying attention. The country is a major reason to buy bitcoin, and a phenomenon is underway. Cash in the country is different. China is like other countries that used paper money.

But now, cash is becoming obsolete.

The New York Times ran a post on this very topic. China’s transformation from a cash society to a digital society is already underway. This systematic change has a lot to do with two main services in China:

– WeChat
– Alipay

Restaurants are so accustomed to patrons paying with these two services that they only ask about cash as a third option. Patrons are happy to pay using these services, and the adoption of these digital services just keeps getting bigger and bigger.

The transformation has been rapid.

If you go back to 2014, the country was all using cash. But China is a special case due to a lot of the innovations coming out in China.

China also has a major hold on the Internet, and this means that the country is in control of a lot of the websites people view and don’t view. Facebook, for example, is blocked in China. Home grown apps are highly supported, and WeChat is a critical part of everyday life.

Everyone is using WeChat, and if you don’t have it, you’re not connected to many of your friends, coworkers or family.

The widespread adoption of WeChat is a good thing. But there’s more happening in China than meets the eye. A lot of the technology that is coming out of China is causing the world to follow. Let’s think about this: America’s mobile payment market was $112 billion in 2016.

That’s a huge number, and from the outside, it’s impressive.

China’s mobile payment market was $5.5 trillion during the same year. The country is leading the way in mobile payments, and there’s no sign of the trend slowing down any time soon. If you go to China, you’ll even see QR codes on boards to tip musicians playing on the street.

There’s so much potential in bitcoin and the adoption is just starting.

If you need inspiration as to why you should be investing in cryptocurrencies, look no further than China and what’s happening.

regulations

Government Regulation is a Good and Bad Thing

Any time the word “regulation” is used, cryptocurrencies drop in value. The trend has been happening for years, but it’s not a bad thing. Regulation means that cryptocurrencies are big enough that the world’s governments are paying attention.

Lawmakers realize that the shift from cash to digital currency is well underway.

Cryptocurrency’s value continues to rise, and the currency is also subject to fluctuations due to political and economic concerns. Millennials have been at the forefront of bitcoin’s rise, and the reason for this is that millennials aren’t afraid to take risks.

Bitcoin and cryptocurrency are a high risk, high reward investment.

Volatility has shown that cryptocurrency investors need to have nerves of steel. Changes are bound to happen, but cryptocurrency is a long-term investment. You can sell when it doubles, or you can sell when it’s up $100 – it’s up to you.

A lot of people are living the high life because they chose to invest in cryptocurrency.

You’ll see some 20-something year old buying sports cars with cryptocurrency profits. It’s insane to think that people have made millions, and a few billions off the rise of cryptocurrency. The potential to invest in cryptocurrency is still there.

There are options to invest now and make returns in the long-term.

You can buy bitcoin, hold on to it, use it to buy items, or sell it for cash. There are a lot of options when it comes to digital currencies.

mosque dawn

Bitcoin is Considered Halal Under Sharia Law

The Middle East is known for their large investors. A lot of money is coming out of the region, but it has been a silent player in cryptocurrency. We weren’t seeing a lot of noise out of the region, and a reason for that is that a lot of would-be investors thought that the investments may have been against Sharia law.

But there was a major study conducted, with the results released on April 12 stating otherwise.

The report, which I recommend everyone read, was focused on whether or not bitcoin was halal or haram. The analysis is eye-opening, and I won’t go through all of the intricacies because it’s rather in-depth and complicated.

What I will tell you is whether or not bitcoin is halal: it is, mostly.

A warning was given by the author of the piece stating that the Muslim community should stay away from Initial Coin Offerings (ICOs). The author notes how secure cryptocurrency is compared to the other currency systems of the world.

He even encourages the use of cryptocurrency networks for payment systems in cases where the network is advantageous or offers benefits over the current system.

So, we can expect to see a lot more Muslim traders on the scene.

NOORCOIN is also a coin which has a Sharia Certificate, and it’s dubbed a “utility token.” The token is said to offer the opportunity for the Muslim world to enter cryptocurrencies.

Bitcoin, and cryptocurrencies as a whole, offer a lot of opportunity for investors to make money. Adoption of virtual currencies will change the way the world’s payment systems work. And early investors and adopters of these currencies are the ones who will profit the most from their investment

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