Challenges that have made Bitcoin stronger

Johannesburg, 04 May 2021
Read time 4min 20sec

Bitcoin is one of the many incredible technologies we’ve been blessed with this century. Bitcoin is now a massive trend all over the world, and users can’t seem to get enough of it. It not hard to see why so many people love Bitcoin. It grants users plenty of benefits, including a convenient online payment system, multiple methods to make a profit, and lower fees when making purchases. While it’s safe to say that Bitcoin is at the top of its game right now, the cryptocurrency hasn’t had an easy time over the years. Bitcoin’s run into many challenges on its journey of growth, and here are the few that had a big impact.

Lack of Information

Arguably the biggest challenge Bitcoin’s had to face in its time on the market is the lack of information that followed its release. As you can imagine, Bitcoin and crypto technology were novel ideas back in 2009. While some people had a very vague idea of what they were, most people had no idea what Bitcoin was, how they could use it, or what they could use it for. Naturally, this prompted people to ask many questions they never got an answer to, which led to conspiracies and rumors about Bitcoin spreading like wildfire on the internet.

The negative consequences of the misinformation being spread were many, limiting plenty of opportunities for Bitcoin users. Naturally, the crypto community had enough of this and decided to take action by doing everything they can to clear things up. Thanks to this, finding pretty much everything about Bitcoin takes less than a minute these days. With just a browser search, users can pull up millions of results that explain the various uses of Bitcoin, guides on different Bitcoin earning methods, and much, much more!

Complicated Trading

Bitcoin trading these days can seem like a breeze. All Bitcoin enthusiasts need to do to start trading Bitcoin these days is download a top-notch automated trading platform and learn how to invest in Bitcoin Revolution. Thanks to the advanced AI algorithms this software has, you can sit back and relax while the technology scours markets for the best available investment options! Even the traditional trading route is pretty easy now. With guides, tips, and Bitcoin trading strategies residing in every corner of the internet, all users need is a bit of time and patience.

As you can probably tell, this wasn’t the case back in the day. Automated trading is a recent trend on the crypto scene, and as we already mentioned, Bitcoin had a problem with scarce information. Newbies to the crypto scene back then ran into a lot of trouble with finding reputable trading platforms, information on how the trading process worked, and Bitcoin trading strategies that could help them profit. Those brave enough to try it out despite their lack of knowledge ended up losing money, while others were too scared to try even try.

No Shopping Opportunities

The lack of Bitcoin shopping opportunities in the past also relates to the scarce information about the cryptocurrency. As a result of the negative rumors about Bitcoin, most shops outright rejected the cryptocurrency, thinking it’s dangerous. Similarly, others didn’t want to take a chance on something they didn’t know much about. It’s safe to say that this is no longer a problem. Bitcoin is quickly becoming mainstream these days, as it can be used as a payment option for plenty of big retailers, including Starbucks, Etsy, Home Depot, and the Microsoft Xbox Store!

Much Less Variety

The issue of variety might seem silly to most Bitcoin enthusiasts nowadays, but in the early days of Bitcoin, it was a big challenge for Bitcoin users. When we talk about variety, we’re referring to Bitcoin profit methods. Back in the day, the most popular ways to profit with Bitcoin were Bitcoin trading and Bitcoin mining. As we already mentioned, Bitcoin trading was seen as a pretty complicated venture by newbies. To make things worse, Bitcoin mining was an even more intricate process.

We know that these two methods have become a lot easier now, but other than that, we’ve also received plenty of new methods to earn Bitcoin! A recent method that everyone seems to enjoy is playing Bitcoin games. These games are very similar to some of the best modern retro video games and grant users small Bitcoin rewards for their effort in beating them! Another excellent method you can try is Bitcoin freelancing. Sporting gigs that include everything from short surveys to app development, you can make a big profit if you put in the time and effort to do a good job.

See also