Since 2009 Bitcoin has gained popularity in different senses: some people believe in its incredible power and claim it to replace the money we use today, others (mostly representatives of government institutions and protagonists of conservative financial security) deny this cryptocurrency by all means, referring to Bitcoin as hot money. In these several years, there has been a whole saga of Bitcoin, with its stunning boom, unbeatable suspicion and persistent search of Satoshi Nakamoto.
Some of the brave businessmen decided to build startups around Bitcoin. Brave because this implies certain courage to start a venture despite all the challenges such failure likely projects promised to bring, among which are: lack of users, cryptocurrency volatility and absence of regulation. However, it turns out those Bitcoin pioneers are receiving good benefits today. Of course, there is no one hundred percent guarantee of success yet. Still, Bitcoin has managed to reach the leading world investors, including global financial institutions, all ready to invest millions of dollars into something that used to be seen as complex and flagrant.
Not only famous tech individuals like Mark Zuckerberg’s friends, twins Winklewoss, the founders of Gemini (a bitcoin exchange service in the US), bet for Bitcoin, but also famous representatives of the financial sector. Thus, Goldman Sachs is reported to have participated in a funding round of Circle, a consumer finance company, promoting digital money and providing services for Bitcoin exchange, added by secure storage and usage opportunities.
Another outstanding startup that managed to raise over 50 million dollars and became the most popular Bitcoin exchange platform is Coinbase. Founded in 2012, Coinbase has somehow convinced the leading investors (BBVA is among them) to trust their business idea despite all the Bitcoin suspicions. Obviously, such deals make us believe that world giant banks tend to place their bets on fintech startups, promoting Bitcoin.
Spanish startup Coinffeine has considerably contributed to the boom of cryptocurrency finance technology by positioning Bitcoin as social capital: they created a peer-to-peer open code platform, allowing Bitcoin exchange transactions be made without intermediaries. Interestingly, many startups try to find new business formulas to attract more Bitcoin users. For example, Snapcard has partnered with online rewards card system Tango and now offers its bitcoin wallet users to participate in specific campaigns and win bitcoins. Also, Bitwage is promoting the use of Bitcoin and making it more accessible by offering its users to choose the percentage of their salaries paid in bitcoins.
As you can see, there is some progress in Bitcoin promotion, it is gradually becoming more mainstream and less geeky payment method thanks to the attention of important investors, media and, of course, startuppers that had enough courage to become pioneers in this industry. As soon as we overcome the current regulation problems, Bitcoin instability and start to believe in the power and safety of cryptocurrency, Bitcoin will be accepted as the key payment method. And for now, only pioneers get benefits from using Bitcoin.
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