As a result of the Greek economic downturn and financial crisis as a whole, Bitcoin found itself at the centre of the news debate. Due to its natural characteristics, its decentralised platform, and ultimately its fascinating make-up due to the blockchain technology on which it is based, Bitcoin offers an exciting new wealth of opportunities. With the development of the bitcoin gambling casino which has introduced provably fair gaming to the online world and implementation by brands such as Subway and Steam, the cryptocurrency is continuing to grow. Despite numerous restrictions being placed on Bitcoin, the debate around its potential is continuing, and in turn the cryptocurrency has begun to market itself. Here, we’re taking a look at how.
The Characteristics Of Bitcoin
There are numerous exciting opportunities which Bitcoin provides, and a lot of these come from the characteristics behind the blockchain technology which makes up the cryptocurrency. Firstly, the decentralised element to the Bitcoin offers numerous advantages which is actually leading to disrupt numerous financial institutions. Despite its unpredictability and its evolution under the auspices of a nebulous entity, it is this challenging nature which is actually attracting numerous investors. The cryptocurrency is almost completely anonymous, and as such, many users feel protected when making purchases.
The blockchain technology itself is also exceptionally secure, with fraud being somewhat deterred by the make-up of the cryptocurrency. All of these characteristics have gradually marketed themselves, and with the boom in investment, more individuals are turning to this cryptocurrency as an alternative payment method.
A major indicator of the cryptocurrency’s growth is its price performance, and with the huge amount of investment going into the currency in recent months, it’s unsurprising to see that the price has boomed. Despite many critics believing that the currency remains unstable, the Bitcoin is marketing itself as a well-performing investment opportunity for many. While many are concerned about the regulations which are beginning to be imposed, these will only stabilise the cryptocurrency, further opening opportunities for use.
Fear By Financial Institutions
One of the major marketing aspects for Bitcoin is the fear it has imposed in some traditional financial institutions, which may now have to evolve their techniques in order to keep up with this ever-growing technology. While traditional financial institutions may see this as a negative, consumers and individuals will see this as a positive, as banks will now have to adapt their methods in order to keep funds as secure, yet accessible, as possible. Some financial institutions, such as Barclays, have already started to adopt cryptocurrency and blockchain technology, and have begun discussions with regulators on how to bring this technology into play more efficiently. With big brands such as these, alongside the likes of Subway, Microsoft, PlayStation and more embracing this technology, Bitcoin is being marketed in more ways than ever before.
While many associate Bitcoin with having an image issue, in modern times, this is very much the opposite. With increasing regulations being implemented, Bitcoin is only going to stabilise more efficiently, and as a result grow with more investments. Since the boom, Bitcoin’s marketing has been handled by the news and simply by word-of-mouth.