By Mark Lemon – Crypto Broker
Despite Bitcoin being the most dominant, and famous, cryptocurrency around the world, it is still facing a difficult time becoming the most used currency for payments, even though the people want to buy Bitcoin. This is slowly changing as many businesses and merchants are slowly opening themselves to the idea of utilizing Bitcoin and other cryptocurrencies as a method of payment. It is a positive step forward to hear that trading platforms are showing movement in allowing merchants that process goods and services to accept Bitcoin.
It was reported by Chainalysis, an analytics firm, that Bitpay processed $1billion in transactions in 2019. This is compared to Coinbase and their processing of $135 million in cryptocurrencies, including Bitcoin. This shows a rise of 600% from 2019, ultimately indicting that more users are choosing to buy not only Bitcoin but other cryptocurrencies as well. The report goes on to detail that as much as $4 billion BTC payment transactions took place in the previous 12 months.
While this increase in cryptocurrency use is enhancing its worth, merchants are eagerly looking for better functionality of the technology for their & their customers ease as cryptocurrency integration has the potential to expand online businesses internationally.
One major concern for the public that often puts them off trading in crypto is its exposure to price swings and the general volatility of the market. They claim that the potential for Bitcoin to lose its value makes new users reluctant to use it. There are many projects to choose from and ways to diversify in the technology rather than keeping it as fiat.
At BC Bitcoin we offer a trusted service on our website if you are interested in buying and selling Bitcoin as well as other cryptocurrencies. We can exchange crypto to fiat or hold your cryptocurrency for you to sell later as we are the most trusted Bitcoin broker in the UK.