Most newbies to the world of Bitcoin know it as an incredible cryptocurrency that can do virtually anything at this point. Bitcoin covers a lot of ground, offering users incredible opportunities on multiple fronts. From top-notch entertainment to insane money-making opportunities, there’s nothing Bitcoin doesn’t cover. While Bitcoin might be an incredible investment right now, that doesn’t mean it hasn’t had its fair share of trouble in the past. The first cryptocurrency had more than a few hurdles to overcome over the years and get to the point it’s at now, so if you’re interested in what those hurdles were, here are some of the bigger ones.
Bitcoin Was a Mystery
Whenever something completely new enters the market, people tend to freak out. We want to learn as much as we can about the novel entry, and most of the time this is highly justified. Things weren’t that different with Bitcoin’s release. As you can imagine, the majority of the world had no idea what cryptocurrency, blockchain, or Bitcoin was when it hit the market. While this is to be expected, things didn’t work out too well for Bitcoin. While people were very curious as to what Bitcoin was, information about it was practically nonexistent.
Unfortunately, the lack of information about Bitcoin made way for people to come up with explanations that were very far off the mark. This misinformation quickly spread, painting Bitcoin as something that comes with many negative consequences. The good thing is that Bitcoin has managed to clear its reputation. With the community of crypto users banding together to provide accurate info on what Bitcoin is and what it can do, the internet is now chock-full of information on pretty much every aspect of Bitcoin you can think of.
As expected, the easily accessible info on paved the way for many new developments in the crypto field, including the recent trend of automated Bitcoin trading. If you’re not familiar with automated trading, you certainly need to look it up. Automated or passive Bitcoin trading apps see here software was made to give users a chance to make profits without putting in much effort. They replace the often grueling manual trading process with AI tech, which searches the market for the best investments out there, taking them up once they’re on the app’s radar!
Shopping Was a Hassle
It might seem a bit strange to those unfamiliar with the crypto world to read that a currency was having trouble with offering its users shopping opportunities, but that’s exactly what happened with Bitcoin in the beginning. As we already mentioned, Bitcoin was a mystery, and not just to most regular people. Shops and service providers were also out of the loop about what Bitcoin was, and the negative press surrounding it didn’t do it any favors either. As a result, most shops didn’t feel comfortable adding Bitcoin as a payment method to their system.
Of course, if you’ve been keeping up with Bitcoin now, you know that things have changed drastically. Bitcoin is now a staple in plenty of shops across the world, giving its users a chance to find some of the best goods currently available on the market. A few of the big names where Bitcoin is now accepted include Starbucks, Home Depot, the Microsoft Xbox Store, and even Etsy! The online shopping platform Etsy is currently a fan-favorite with Bitcoin users. It seems that Bitcoin enthusiasts love a nice vintage throwback and we can’t say that we blame them!
Profit Options Were Limited
The thing that draws most users to Bitcoin is its incredible money-making potential, but just because the cryptocurrency had heaps of it, doesn’t mean it was easy for most people to take advantage of it. Back in the day, profiting through Bitcoin was pretty much exclusively available through traditional Bitcoin trading and Bitcoin mining. While these options offered excellent opportunities to get rich overnight, they weren’t available to everyone. Bitcoin trading came with plenty of learning curves, while Bitcoin mining required time, effort, and often expensive equipment.
Luckily, the process of profiting from Bitcoin has evolved over the years. One of the excellent new developments here is the boom of the automated trading software we discussed previously! New options have made headway as well. Bitcoin freelancing, where people complete gigs for Bitcoin payments have been pretty popular lately and so have Bitcoin games! While these entertaining games might not compare to newer AAA titles like the hyped-up upcoming Resident Evil game, they’re free and give players a chance to score some Bitcoin as they play along!
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