The Rise of Cryptocurrencies – Bitcoin
Did you know… the term ‘Bitcoin’ was searched over 200,000 times on Google making it the 5th most popular term searched on the internet this year.
So what is this ‘Bitcoin’ and why is there such an online craze?
Bitcoin is a virtual currency, meaning there is no physical existence i.e. notes or coins, nor does it have a central bank. It was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made without the need of a middleman, so there are no fees or requirements to provide your name or details.
The coins are created by users who ‘mine’ them by lending computer power that solves mathematical formulas to verify other user’s transactions.
Bitcoins can be bought and sold and now more businesses are beginning to accept them as a legal method of payment. You can buy things electronically, just like conventional dollars, euros or pounds which are also traded digitally. However bitcoins most key characteristic is that that it is decentralised, which makes it different to conventional tender.
Some people would generally feel more at ease using bitcoins as no banks or institution can control their money.
It’s also very easy and simple to set up, we’ll go through that in more detail below.
But why all the fuss now?
FACT: Bitcoin reached a record high in May 2017 valued at $2700 for the first time, which is an incredible 500- fold increase over the past 5 years. (source)
This is mainly due to its high demand in Asia’s richest economy, with Japan recently recognising Bitcoin as a legal method of payment although it is still treated as an asset rather than currency.
As the majority of the population are now living and breathing digital technology, they are more inclined to accept new and innovative methods of making payments for their everyday items.
This is why Bitcoin has become increasingly popular for international money transfer services, as other conventional money transfers such as Western Union and Money Gram are slow and expensive to use.
An analyst from CNBC reported that Bitcoin’s price has the potential to hit over $100,000 in the next 10 years which would mark a 3483 percent size for its recent record high.
Sounds interesting? Here’s how it works
You can buy bitcoins directly from several marketplaces called ‘bitcoin exchange’s’ allowing people to buy or sell bitcoins using various currencies.
One of the largest bitcoin exchanges is the Japan-based Mt. Gox and is handling approximately 70% of all bitcoin transactions.
People can also send bitcoins to each other using mobile apps or their computers the same way you send cash digitally.
What can I buy with bitcoins?
Technically anything, although there are no mainstream retailers currently accepting them at the moment. Blogging platforms such as WordPress and WikiLeaks both accept bitcoin as a payment method, and other retailers such as Amazon are offering gift vouchers in bitcoins.
Start promoting Bitcoin Offers
We’ve all gathered by now that bitcoin will change money over time so why not start early and join the bitcoin affiliate marketing world. There are many Bitcoin opportunities available that you can start capitalising on straight away.
Although the majority of the affiliate programs pay using normal currency i.e. pound dollar etc, some may offer bitcoin payment, so it’s also a good way to build up your bitcoin wallet.
On ClickSure we have great Bitcoin Offers for you to promote!
Millions have already discovered smarter strategies for investing in Bitcoin and now you can learn from experience eToro traders and take advantage of this lucrative trading method.
eToro Bitcoin offer is available on ClickSure, offering landing pages in popular languages such as English, Spanish, Italian, Russian, Arabic, and Chinese.
Contact your account manager for more information.
Get paid in Bitcoins on ClickSure!
There are many online retailers that are now accepting Bitcoin as a payment method such as Shopify Stores, WordPress.com, Tigerdirect and much more, including Affiliate networks like ourselves.
ClickSure will also be adding Bitcoin as a payment option for all our Affiliates and Advertisers on the network.
Since Bitcoin is a universal digital currency, we can send it anywhere in the world without currency conversion costs, fees and eliminate the unreliability of wire transfers payments.
Bitcoin presents an exciting alternative for payments, giving Affiliates the flexibility and the choice to pick the payment method that suits them.
Contact us here for more information or get in touch with your Account Manager!
Is Bitcoin the future of online trading?
Well, nobody can say for sure as it’s not yet a fully established currency and it has shown massive fluctuations in price over time. Although it has generated a lot of interest amongst technologically- savvy individuals, some critics do claim it is a bubble waiting to pop, as there are no government or banks involved to offer protection insurance, which can pose a challenge to the authorities.
There’s been a lot of interest in Bitcoin in the education industry with the University of Ohio now hosting classes about Bitcoin and cryptocurrencies as part of the curriculum. Awareness and acceptance of Bitcoin could help bring this alternative currency to the mainstraim.
Bitcoin may be the wealth of the future or can end up being a total nightmare – It’s too soon to tell…
So watch this space!