Bitcoin remains the digital currency of choice for online bookies. The reason is that Bitcoin, and Ethereum, are both unregulated.
If you haven’t switched to Bitcoin yet, you should do so soon. Remember, you get a 5% rebate on your first Bitcoin deposits and no transaction fees on all accepted cryptocurrency.
With that out of the way, it’s time to get to today’s Bitcoin lesson. It’s important that per head agents understand Bitcoin price charts.
The reason is so that they can decide to either put some of their Bitcoins into cold storage, or to turn their Bitcoins into cash.
Bitcoin Volatility – Here to Stay
Volatility is the way that derivative traders make and lose money. The price of Bitcoin has become more akin to the price of a derivative than to the price of a regular currency.
Here’s a link to a Bitcoin price chart.
Just by looking at it, you can see extreme peaks and extreme valleys. The key to making decisions based on a price chart like this is for pay per head agents, like you, to first decide why you’re switching to Bitcoin.
(Find out how to switch your players over to Bitcoin here.)
You can utilize Bitcoins, and get the 5% discount by switching to Bitcoin, or Ethereum, which costs much less, with cash.
In that case, is it important for you, the per head agent, to check out price charts for your Bitcoins?
Bitcoin as Investment – Cold Storage
However, because the price of Bitcoin has skyrocketed so high, and because some believe the price of a single Bitcoin could reach around $100,000, or even more, you might want to get into the habit of checking the price.
The best way to invest in Bitcoin right now is to put some Bitcoin into cold storage.
Google digital currency wallets to find the best cold storage drives. Then, after you’ve put Bitcoin on your cold storage drive, put the cold storage drive in a safe.
Then, decide to offer your cold storage Bitcoins to a Bitcoin buyer once the price has risen to where you assumed it would.
You’re only going to know how much your Bitcoin is worth by looking at Bitcoin price charts.
Trading Bitcoin – Digital Currency Exchanges
Because we’re not a currency trading platform, we really can’t offer advice on whether you should get into digital currency trading.
Blockchain is a company with a decent reputation. They’ve also got some nice tutorials on their site. If it’s something you’d like to pursue, check it out.
For now, it’s important to understand that working with Bitcoin doesn’t necessarily have anything to do with Bitcoin’s volatile price.
It’s also important for online bookies to know that keeping some Bitcoin in cold storage (once they’ve accumulated it) might make some sense.