Cryptocurrency is a topic that continues to excite some people but flares the temper of others. Just as Bitcoin itself is famously volatile, so too are the debates surrounding how useful digital money is. If trends and statistics are worth believing, more of us will continue to sway towards digital funds as the year’s pass. However, there’s nothing to say that physical or fiat money is going to drop off any time soon. With that in mind, no one knows for sure where crypto is heading. That isn’t stopping many businesses and entrepreneurs from preparing.
While some businesses take calculated risks by accepting Bitcoin payments, others are actively trading in it. Why not? It’s easy to do, and sites such as www.top10bitcoinrobots.com, allow people to set programs to start investing for them. This means that investing in Crypto has never been more accessible. Still seems that there are some out there unwilling to change there mindest regarding crypto. But why is this?
Uncertainty is rife
It’s probably true that the world has never been more uncertain of itself in so many ways. Could that be a reason that people are flocking to Bitcoin and Ethereum, for example, in their droves. This certainly goes for British investors, not just those overseas. However, UK entrepreneurs still seem a bit slow to jump on the bandwagon – but why is that?
The reasons for people giving crypto the ‘hands-off’ approach are pretty reasonable. Plenty of entrepreneurs are worried they will lose a lot of money putting all their eggs in one basket. More than this, cryptocurrency is famously unpredictable. One thing small businesses and entrepreneurs need, of course, is predictability. They need to know how to adapt to changing markets. They need to know what their customers want to invest in.
Therefore, on the face of it, crypto is going to be unappealing to the unprepared entrepreneur. It is famous for its peaks and its lows, and the fact that these changes happen regularly isn’t comforting. Expert traders will tell you that it’s worth riding out the valleys to scale the mountains; however, for many entrepreneurs, it’s simply not worth doing.
Uncertainty in the law
UK entrepreneurs are also worried about getting into crypto because everyone else seems to be. That not only goes for bigger businesses, but also for the law and banks. UK banks are famously unsure of cryptocurrency because there is no centralisation. To you and me, this means that there are no middlemen or regulatory bodies involved in the process. It’s also the volatility, again, which pushes people away.
Once British law and finance tighten up its stance on crypto, it is more likely that UK entrepreneurs will start to take more notice of digital money. After all, there are more than a few statistics out there which show adoption and investment in the UK aren’t going to slow down any time soon. That’s an exciting prospect – but entrepreneurs in the country who are still holding back might be doing themselves more harm than good.
Should entrepreneurs act now?
There’s a strong argument for entrepreneurs, and small businesses in general, to strike while the iron’s hot. After all, trends show no sign of shifting. Bitcoin and other crypto are always going to be popular in the UK, and if businesses take immediate action, they could be looking at getting ahead of an exciting curve. Entrepreneurs, too, even with a small investment, could put themselves in a very strong position in years to come.
Immediate investment means that they will have access to trading overseas with instant payments and next to no fees. One of the biggest reasons why crypto is so popular is because it tears away the red tape. For entrepreneurs and people who want to reach out to global customers without barriers, it’s an obvious choice to make.
British entrepreneurs are at risk of buying into too much spin. Crypto certainly carries risks; however, negative media pressure and continued flakiness from the powers that be, appear to be stalling us from getting deeper into digital cash. It is a genuine shame – because it has unlimited potential.
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Some British firms are already taking advantage of investing in crypto online. There are risks and measures which need careful assessment. Do you take advantage now, and risk losing your deposit, or do you leave it till later, and fall behind the pack? Things are predictably, unpredictable.