If you’re not too familiar with the crypto world, you’ll be surprised that Bitcoin has been in the market for more than a decade. As the first cryptocurrency, Bitcoin has achieved a lot over the years and paved the way for others to rise thereafter. While Bitcoin is doing incredibly well right now, that doesn’t mean it hasn’t gone through the wringer in the past. Bitcoin had to overcome many obstacles to achieve today’s level of success. If you’re wondering what some of those challenges were, here are some of the biggest.
The novelty of the cryptocurrency
As you already know, Bitcoin was the first cryptocurrency the world got to know. Of course, this novel technology has piqued the interest of many who wanted to see what it was about. While this brought a lot of attention to Bitcoin and the great things it had to offer, it also brought a lot of negative press. The problems with Bitcoin at the time were mainly due to a lack of information. Little was known about blockchain, cryptocurrencies, or Bitcoin, and information about this new technology was nowhere to be found.
As you can imagine, this led to a lot of misunderstandings and rumors that spoiled Bitcoin’s reputation. People around the world didn’t want to risk embarking on something unknown and potentially dangerous, so they stayed away from it at all costs. Fortunately, the crypto community managed to fix this over time. As the crypto community learned more about Bitcoin and its possible functions, it published its results online so that everyone could access it.
Complex methods of earning
In the beginning there weren’t as many ways to earn Bitcoin as there are now. Bitcoin trading and mining were the main goals, but as you may know, these are not as easy to get started with as it seems. Nowadays there are many different ways that users can benefit with Bitcoin without much effort. A great example of this is automated trading software like ImmediateEdge UK! By using automated trading apps, users can start their bitcoin trading journey without needing any prior experience or knowledge of trading.
Thanks to the AI trading bots used by this software, users can make Bitcoin trading more relaxed and let the trading algorithms find the best investment opportunities for them! Of course, this isn’t the only new method newbies can try. Bitcoin Freelancing gives users the opportunity to work for their bitcoin, while the recent trend in bitcoin gaming is allowing them to profit with bitcoin while having good old-fashioned fun!
Limited shopping opportunities
Due to the bad reputation Bitcoin had in its early days, most businesses were not interested in taking a risk and adding it to their payment systems. This, of course, resulted in a serious lack of shopping for Bitcoin enthusiasts. While there were some top-notch Bitcoin-friendly stores here and there, users were limited to certain items that not everyone was interested in. If you are a modern bitcoin user, you know that things are very different right now when bitcoin shopping is in question.
Bitcoin is moving closer to the mainstream every day, offering users the opportunity to shop at some of the largest retailers in the world. With the information now widely circulated, many new businesses and service providers are taking a more bitcoin-friendly approach. Longtime users can now spend their Bitcoin savings on a cup of coffee at Starbucks, action-packed video games from the Microsoft Xbox Store, and a fun weekend trip to the US! Bitcoin shopping opportunities today are almost limitless. So use it and treat yourself to something!