Bitcoin is hot. So should wholesale property investors make efforts to accept bitcoins or is there another major gap to be avoided?
There seems to be a growing uproar about bitcoins, as is the tremendous value of virtual currency. So what are the pros and cons of large stores trading in this digital currency? Is it necessary or should it be avoided?
There are actually many advantages to getting into bitcoins business for these wholesale properties.
· Make it easier for more individuals to buy and invest with you
· Achieve a huge rise in the price of Bitcoin
· Increased press, brand visibility and viral spread
· Expert attention from technology investors and buyers
Of course, many wholesale executives are discovering what bitcoin is all about. Unfortunately, a large part of that is in the form of negative media, with the Silk Road just closed, Charlie Shrem arrested and the mega million dollar bitcoin hijacked.
On the plus side, those who have followed this news will know that all of this has little to do with the use of bitcoins and everything to do with the illegal actions that are bought and sold. The fact that it sells digital coins that the government flipped makes bitcoin legitimate.
It’s easy to accept bitcoin, and more and more industries are taking over businesses. Right now there is a unique opportunity to walk into the coin squares and take it to the box office. For many, it can be the best marketing move of the year and can really help businesses move to the next level. Of course, this won’t be a long open door or opportunity. We’re talking a few weeks and months before the novelty goes away and everyone does.
There are some critical issues to consider. Many prefer to spend and accept bitcoins for privacy. However, although 90% of existing Bitcoin magazines are being saved, there is a chance of major upheavals.
This past year has worked for bitcoin owners and miners. Coins that were just a few hundred years old or hundreds of dollars are being sold for hundreds and tens of thousands of dollars. With a limited number of people, there is little control in the hands of a few.
So recognize the value of using them in wholesale properties, but think about the consequences of having too much virtual money.