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Bitcoins: Should you Invest?

Bitcoins have been selling like hotcakes on the internet and most online merchants are quite eager to make bitcoins acceptable as their payments. Seeing the value of each coin could make you stop thinking and start to take this cryptocurrency for your next “playground”. If you are an online merchant, you will need the Bitcoin payment gateway to start receiving your coins from the internet. Then with bitcoin payment processor, you can exchange the coins into your local currency through local banks. Unlike your usual foreign currency, there are no specific bank or government which could give it a direct influence. So, what to think about before you start investing?

The Pros

Being decentralized means that you don't need any third party service to send the money from one another. All transactions are made purely peer to peer and there is no intermediary, which means no additional fees. However, it is only valid if you are doing the transaction in Bitcoin, once you have to exchange them into local currencies, banking fees may apply based on each bank’s policy. The other thing is the limitations, which is only 21 million coins available. There wouldn't be any more coins added in the future and the purchasing power is preserved strongly within the limitations. With this policy in hand, you won't need to worry about extreme inflation, because no matter what happens, the coins would still have its value.

Secrecy has been the top priority for people with top-tier wealth. They want their transactions to be as anonymous as possible. Bitcoin came with privacy as the main idea and no one would be able to identify which coin belongs to a certain person. While holding more privacy policy than the other, you could say that bitcoin is much cheaper to do the transactions. Because there is no third party or more, you wouldn't need to pay for additional fees when you send money to any part of the world.

The Cons

Bitcoin value fluctuates way more extreme than the other currencies. Get a wrong step and your investment could be done for. People said that it is better to put the only money you could afford to lose into bitcoins. The other bigger problem is there is no turning back in each transaction. If you get the wrong address, then you'll lose your money for good. Because there is no way to trace the person who has the address, you cannot issue anything if there is a mistake while sending the coins.