Cryptocurrencies like bitcoin have grown exponentially in terms of popularity within the last two years. In fact, CryptoCoinsNews reports that Alexei Navalny is accepting bitcoin as a donation to his campaign for the Russian Presidential race. This just goes to show that the governments of the world have come to recognize cryptocurrencies as a viable alternative to traditional money ,which is tied in value to a real-world object like gold or silver.
Cryptocurrencies / digital money are tied in value to the work that was rendered to obtain them, however. The effort value associated with cryptocurrencies tends to make them more valuable. Bitcoin is approaching a value of $800 as we close in on the beginning of 2017. CoinTelegraph reports that bitcoin has become more stable in the last year than traditional currencies like the British pound. In fact, the inflation rate for bitcoin has dropped to just 4% (from over 30% in 2011), making it one of the most stable currencies in the world today.
As a result of this increased stability, some businesses have begun to accept bitcoin for payment in return for goods and services. 99BitCoins has found that several large name companies such as Microsoft and Subway are accepting bitcoin payments. The list of companies that accept bitcoin is growing every day in order to increase convenience for customers.
The convenience of bitcoin payments becoming more common is supplemented even further by the existence of bitcoin hardware wallets like KeepKey that allow you to carry your currency on you and pay as you go.
