Gone are the days,the feeling of content was experienced, by merely exchanging goods of requirement. This system was known as ‘barter’, wherein one would ask for a handful of rice in exchange for a handful of wheat. Though, barter being the foundation of all types of exchanges, it did not survive the wrath of those genius minds that committed malpractice by exchanging unstable quantities of goods.
Imagine, getting a handful of rice for an exchange of a cart wheel. Sounds unfair, so did the nomads think. Therefore, they invented ‘The Coin’. Prices were fixed for each commodity as on Amazon and everyone was happy. But there is always one soul in the bunch who wants more. That greedy soul discovered the hassle of carrying heavy coins for exchange. Thus, he decided to replace coins with paper. Hence, we have ‘Notes’. But the quest of a restless human soul never ends and the cycle of making transactions easier yet complex by the day continues. This led to paper being replaced by cards and next on the list is ‘Bitcoin’.
Bitcoin is the next generation cyrptocurrency, meaning, it cannot be duplicated.The objective of developing Bitcoins was that people wanted to eradicate the fees charged by intermediaries for their services during transactions. This means that though Bitcoin is primarily purchased using credit or debit cards, it can be further used to make bookings or purchases without involving the banks itself. This has raised many eye-brows from the financial industry, questioning the existence of banks in the future. As Bitcoin is yet in its infant stage, the value of the same is not yet stable. It fluctuates like Gold or Silver basis on the currency of the operating region. Today, the usage of Bitcoin has reached more than 10 countries across the world.
With the rise of Bitcoins, there are many intermediary websites set to handle these transactions. These sites act like banks or payment gateways for Bitcoins, wherein it records all your purchases and spends. Some of these intermediary websites expand in certain industries. One of those websites is BitPagos that focuses on hotels and restaurants at tourist locations.
The objective being these attract multiple currencies, ultimately leading to the rise in the price of Bitcoins. Founded by entrepreneur Sebastian Serrano, back in 2013, BitPagos raised a seed round of $600,000. This investment is primarily made by Pantera Capital with participation from Draper Associates and Boost Bitcoin Fund. Bitpagos charges a minimal fee of 5% on the entire transaction amount for managing your Bitcoins.
There is a massive opportunity in Bitcoins investment especially for entrepreneurs. This kind of money shall delete borders and speed up the rate of transactions. Though Bitcoins are currently the talk of the town in first world countries, time is not far when trees shall be rooted again and money will be in the air, everywhere, literally.