Bitcoin is hot. So should real estate investors be ashamed of accepting bitcoins, or is it another major problem that should be avoided?
The buzz around bitcoins seems to only grow, just as virtual currency is rising. So, what are the real pros and cons of dealing with this digital currency for these wholesalers? Should there be or should it be avoided?
In fact, there are many benefits of incorporating bitcoins into the business for those who are wholesalers.
· Make it easier for more people to buy and invest with you
· Deposit money for the dramatic increase in the price of bitcoins
· Increased press, brand visibility and spread of viruses
· Attention from technology investors and buyers
Of course, many CEOs are just discovering what bitcoin is all about. Unfortunately, much of this is in the form of negative media around the recent shutdown of Silk Road, the arrest of Charlie Schrem and the seizure of a mega million dollar bitcoin.
On the bright side, those who follow this news will know that all this has little to do with the use of bitcoins and everything to do with illegal activities that are bought and sold. In fact, the fact that the government claims to sell the digital coins it spends makes Bitcoin legitimate.
It becomes very easy to accept bitcoins and more and more businesses in different industries are adopting it. There is currently an amazing window with opportunities to ride on currency cocktails and tap as you pick it up. For many, this may be their best marketing move of the year and can really help start their business to the next level. Of course, this will not be an open door or an opportunity for long. We talk for weeks and months before the news disappears and everyone does.
However, there are some critical considerations to keep in mind. Many may prefer to spend and adopt bitcoins for privacy. However, while bitcoin magazines account for 90% of existing magazines, they are retained, there is potential for major fluctuations.
In the last year, this has been working for the benefit of bitcoin owners and miners. Coins that cost only a few or a few hundred dollars a year ago are currently being traded for hundreds and tens of thousands of dollars. Due to the limited number of people holding them, there is a lot of control in several hands.
So acknowledge the benefits of using them in wire properties, but think about the consequences of holding too much in virtual money.