Libertarians, anarchists, and others who are looking to get involved in a currency that has no government regulation or taxes have been raving about the cryptocurrency Bitcoin. Bitcoin is a completely digital form of currency, produced through computers that dedicate a portion of their processing to “mining” a small amount of Bitcoins. The cryptocurrency is popularly used to buy products and other services online, including quite a few illegal black market services. It is also an investment, and for those who have skills in trading may find that Bitcoins are an excellent way to make a quick buck. The only problem is getting your hands on them to get started.
Big shots in the Bitcoin world have to dedicate massive amounts of power to Bitcoin mining to make it profitable, and for the common person this is not an option. Exploring the world of the massive bitcoin exchanges is also a challenge for the average layman, making investment into Bitcoin quite an undertaking.
Prepaid Bitcoin is a company that is hoping to make entrance into the Bitcoin world a little easier. Prepaid Bitcoin provides exactly what one would assume they do, based upon their name, offering prepaid Bitcoin cards. These prepaid cards will be sold through online and in-store retailers, possibly bringing the Bitcoin further into the mainstream.
Consumers will be able to choose exactly how many Bitcoins they would like to buy in the form of card presets. Prepaid cards will come in $10, $25, $50 and $100 denominations. When bought, the customer will receive a card that has the corresponding amount of Bitcoins according to exchange rates.
Setting up prepaid cards will hopefully make acquiring Bitcoins more accessible to users.
Prepaid Bitcoin is becoming a major name in the Bitcoin market, sponsoring the Inside Bitcoins - New York, Bitcoin Conference, taking place from April 7-8. They will also be part of the Toronto Bitcoin Expo on April 12-13.
Will Prepaid Bitcoin’s plan work, it will definitely make the Bitcoin more accessible, but the other issues with Bitcoin, such as it’s volatility and not being accepted as a currency by most retailers will still serve as a guard against Bitcoin becoming a major currency.
Edited by Cassandra Tucker
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