When Bitcoin first came around there were many doubters that it could ever take off as a currency. Since then, the cryptocurrency market, and bitcoin in particular, have exploded in popularity to the point of becoming an international phenomenon. Far from its roots in the backstreets of the dark web, bitcoin has come a long way in its usefulness and spread. This being the case, and the future being so bright, what can we expect from bitcoin in the increasingly digital world of tomorrow?
Easier to Buy
While mining bitcoins for yourself as an individual is certainly a more challenging task than ever, the same cannot be said for the general purchase of this cryptocurrency. Today there are already a great many websites like BestBitcoinExchange which facilitate both the trading of bitcoins and helping users find the right exchange for them. In fact, in recent years these have turned from hobby sites into major professional operations, increasing their reach, accuracy, and efficiency in drawing users in and helping them get established.
The same can be said for the purely owner-operated side of direct trading. As bitcoin has become more popular, it has become much easier to find people to physically trade with, mitigating many of the problems early adopters has with the direct trading process.
Easier to Spend
Currency that you cannot spend is not useful, and bitcoin has come a long way since its birth in that regard. While it cannot quite claim the same level of spread and popularity of the more common credit card systems or other online systems like PayPal, bitcoins are still making great strides in closing the gap. These days it is easier than ever to purchase goods and services with bitcoin, with many online stores offering similar variety to what you could expect with traditional fiat currency. This extends from goods like televisions, clothes and bedding from websites like Overstock, to booking travel as can be done with the very popular Expedia.
Even now there are new stores opening up every day, and some of them aren’t relegated to the digital domain of the internet. There already exist cash machines which allow users to quickly exchange their coins for cash, and businesses like Café Berlin in Las Vegas are similarly following suit. Some huge moguls in business are looking to these for inspiration, as billionaires like Tilman Fertitta have considered adding bitcoin to their standard methods of payment.
Easier to Store
As technology has improved alongside bitcoin, methods of storage have also improved. With better security and more efficient designs than ever, devices like bitcoin wallets have become an important component of cryptocurrency safety. Many commentators on the industry believe that these wallets will eventually become so popular that they will find a place among the wallets we already have, though likely as a card or smaller device rather than what we think of as a full-fledged traditional wallet.
The exact path of how far bitcoin will spread is a difficult thing to predict, much like the creation of cryptocurrency itself. While we do know that these will become far more widespread and efficient in the future, the finer details are going to be left up to the organizations and entrepreneurs who work directly with the coins. The future is digital, and just how much bitcoin can dominate this digital future is something which many us will watch with a vested interest.