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Another UK perspective

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In 2008, Nakamoto developed the first decentralized digital currency. Today, 100 000 venders sell Bitcoins around the world and 280 British firms accept these digital coins sent through internet from user to user without needing intermediary. This payment system claims to have lower fees and declares being usable worldwide. Scan.co.uk proclaims that the cryptocurrency is “changing finance the same way the web changed publishing.

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While the common perception of bitcoin is that individuals use this payment method to buy drugs online, English businesses and consumers start recognizing that this is far from the truth. The trading bitcoin community is growing all across the planet. UK wise, multiple websites such as bitbargain.co.uk or coincut.com claim allowing you to purchase bitcoins “quickly, safely and at competitive prices” all of this in an average of eight to thirty minutes maximum.

Once your money traded, it is possible to buy anything with the simple use of Internet and permitting you to preserve your identity undisclosed. rldwide. Scan.co.uk proclaims that the cryptocurrency is “changing finance the same way the web changed publishing.

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Small high-street businesses also admit this crypto currency. In Exeter, the Port Royal uses his ordinary till to then collect the payment from his clients with is sell phone via a bitcoin app. However, larger retailers do not currently receive bitcoins and consider needing more time even if the idea is presently debated. The chief digital officer of Argos says it “they continually monitor the evolution of new payment mechanisms, such as digital wallets.” Yet great corporations aren’t the only sceptics: According to Yougov’s reports, on a sample of 2052 adults in th UK, 71% don’t enjoy having the option to pay using the virtual currency. The anonymity appealed to only 6% and no longer carrying cash interested only 5% of polled.

We are witnessing today the bitcoin’s growing pains and only the future will tell if with its unpredictable nature it could aspire to stand one day next to currencies such as dollars, euros or pounds.

by Emily D.