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How to Participate in the Bitcoin Economy

The Bitcoin economy is increasing at a rapid rate, as more and more startups enter the sphere and try to offer traditional services but using Bitcoins. You have everything from a marketplace of books aka Amazon style but only in Bitcoins to advertising platforms similar to Google AdSense but in the Bitcoin economy. As Bitcoin goes more mainstream, these are only going to increase in number and scope, thus presenting a wonderful opportunity to get on board with this at an early stage.

The big advantage of entering the Bitcoin economy now is that you'll get in on this technology at the 'innovator stage' and you'll have the opportunity to be one of the leaders. Businesses that operate in the current Bitcoin economy also enjoy a free publicity of their business within the Bitcoin community. Everything from gyft that accepts Bitcoins to purchase store gift cards to EVR bar that became popular in the highly competitive bar and lounge scene in New York by accepting Bitcoin as payment currency for drinks.

The advantages of being part of the Bitcoin community should also be obvious - literally zero transaction fees for trans-continental money transfers, instant transfer of money without any third-party delays and ability to reach everyone on the planet who has access to the internet.

The micro Bitcoin economy is already flourishing. Now you can do the traditional micro-tasks from agencies such as CrowdFlower on the Bitcoin platform and earn your first Bitcoins that way. If you're a business, there are plenty of good opportunities to advertise your business to the Bitcoin audience through services like Coin URL.

On a personal finance front, it is best to keep a secure wallet online at one of the trusted wallet services and then start earning some small amounts of Bitcoin just to get a feel for how this economy functions and how you can leverage this. If you have access to both fiat and Bitcoin in a liquid market, there are plenty of opportunities where you can pay in one and receive in the other to get the most out of your business. The market is still not perfect and there are arbitrage opportunities through exchanges and goods and services.

Being part of the Bitcoin economy at this exciting stage should prove highly beneficial to your business as well. You'll be able to reach an audience that would otherwise be very hard to woo - the people at the technological forefronts of our society.




Source by Sid T Kid

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