It’s understandable that you want to be sensible when it comes to making decisions for your small business.
But there is a line that can be crossed where what you think is prudence turns out to be nothing more than fear. And that fear, in terms of the digital currency known as Bitcoin, is often stoked by the very people who have the most reason to want it to fail.
Hearing their laundry list of concerns and warnings might dissuade you from even considering it as a possible enterprise for your small business. But that can lead to a mistake of omission instead of one of the commission, as you might end up losing ground to competitors who understand what a great benefit can be had from it.
There is a certain segment of the financial guard that wants nothing to do with Bitcoin and other cryptocurrencies of its ilk because these technologies have the potential to truly upset the status quo. As a matter of fact, these digital coins can disrupt the way that personal finance has been conducted for years upon years, so you can understand how those who prefer it the old way might not be too thrilled with its ascendance.
If you don’t believe it, use it yourself, or invest in it with the help of a trading robot like Bitcoin Trader and see the difference it can make. What you’ll find is that a lot of the fears are unfounded, and the old guard isn’t telling you the whole story.
What’s in It for Them
Bitcoin is so useful because it allows people and businesses to conduct transactions without any third-party interceding. That means no bank or credit card fees to encroach upon the purity of the transaction. And many of the people who are speaking up the loudest, including some who are even trying to put up roadblocks in the way of Bitcoin, are the ones who are representatives of these old-guard institutions.
The Investment Side
Again, there are ulterior motives in place when you hear people talking about Bitcoin as a marketing scheme or an empty investment with nothing substantial behind it. The institutional investors who raise these arguments have no way now of getting their hands-on Bitcoin other than to stand in line with average people and buy it off exchanges. They don’t get first dibs like they would with initial public offerings and the like.
Weeding Out the Truth
None of this is to say that Bitcoin is without its flaws. It is certainly still a wildly fluctuating asset, which can endanger your profits if you use it in your business as a method by which consumers can pay you. It is also something that has great competition from within the realm of cryptocurrency, as other coins are rising every day to challenge its supremacy.
These are legitimate concerns which you should consider as you decide on the possible inclusion of cryptocurrency. But make sure you don’t fall victim to unreasonable warnings about these coins.
