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Is Now A good time To Buy Bitcoins?

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If you've been keeping track of the news at throughout the last month or so, you have undoubtedly seen a tale or two about Bitcoins. For years this crypto-currency is a favorite among Magic The Gathering fans and the ones looking to fulfill a chemical addiction without the authorities catching on.

With each passing day though, Bitcoins are finding their particular way into mainstream markets, and are poised to become real alternative to federal government issued money. On top of all it is a steadily growing "stock exchange" with regard to Bitcoins, which is making smart day traders a king's ransom. Could you be one of those day traders? Will your favorite online store ever take Bitcoins? Let's explore below in order to better understand why you should buy Bitcoins now.

The Exchange Rates Are Favorable, For Now

Most people that decide to buy Bitcoins do so for the investment value. A little over this past year Bitcoins were worth around 40 dollars each. Last month the currency reached an all time high at about $206, and is currently holding steady inside the $100 range. Fortunes have been made by buying Bitcoins and selling them at the right time.

The Bitcoin mini bubble burst open last month, and this has scared off a couple of novice investors; but this is actually a regular occurrence. The important thing to understand is that each time the currency recovers, it jumps to a straight higher value. It is volatile; but very profitable. Plus, with a limited variety of Bitcoins in existence the value is expected to continue climbing for your foreseeable future.

New Websites Are Taking Bitcoins Every day

What drives that development though? It isn't just speculation, this would cause Bitcoin to collapse like numerous other crypto-currencies of the past. Bitcoin survives and is growing because it is in fact seeing adoption online. Currently, this is limited in order to singular outlets. Online clothing shops, service providers (coding, design, etc.), and other "novelty" products make up many Bitcoin adopters so far; but they are just the very first wave.

Currently, PayPal is trying to find a way to adopt Bitcoin into its current model, and this could mean that partner eBay isn't far behind. This will lead to a explosion of Bitcoin make use of online. But there is an offline presence too, with the first Bitcoin ATM beginning earlier this month. Content aggregation site Reddit had a post earlier this kind of week depicting a comfort store that had its own "We accept Bitcoin" sticker, the only thing holding them back is way better implementation.

Bitcoin Is Still On the "Ground Floor" Stage

The biggest reason that you need to buy Bitcoins though is that currency is still on a lawn floor. All indicators point to the currency seeing huge advances in value and implementation soon. Those who are already committed to Bitcoin, and those that jump in during the immediate future, stand to see huge returns on their investment.

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Posted Jan 09, 2014 at 9:51am