Should Real Estate Wholesalers Accept Bitcoin?

Bitcoin is all the rage. So should investors who wholesale properties struggle to accept bitcoin or is it another major pitfall to avoid?

The rumor about bitcoins seems to be growing, just as the virtual currency is skyrocketing in value. So what are the real pros and cons of trading this digital currency for wholesale houses? Is it essential or should you avoid it?

Actually, there are many benefits of incorporating bitcoin into business for those properties that are wholesaling.

This includes:

Making it easier for more people to buy and invest with you

Taking advantage of the dramatic rise in the price of bitcoin

Increased press, brand visibility and viral spread.

Attention of investors and buyers experts in technology

Of course, many wholesale CEOs are finding out what bitcoin is all about. Unfortunately, much of this comes in the form of negative media surrounding the recent Silk Road closure, Charlie Shrem’s arrest, and the seizure of mega-million dollar bitcoins.

On the positive side, those who have followed this news will know that all of this had little to do with the use of bitcoins and all with the illegal activities that are bought and sold. In fact, the fact that the government is selling the digital currencies it stole makes Bitcoin legitimate.

It is becoming very easy to accept bitcoins, and more and more companies from various industries are adopting it. Right now there is an incredible window of opportunity to take advantage of the coin skirt and press for it. For many, it could be their best marketing move of the year and it would really help launch their business to the next level. Of course, this will not be an open door or opportunity for long. We’re talking weeks and months before the novelty wears off and everyone is doing it.

However, there are some critical considerations to keep in mind. Many may prefer to spend and accept bitcoins for privacy. However, although Bitcoin Magazine reports that 90% of those that exist are being hoarded, there is the possibility of large fluctuations.

For the last year, this has worked in favor of bitcoin owners and miners. Coins that were worth a few or a few hundred dollars a year ago are currently trading for hundreds and tens of thousands of dollars. Due to the limited number of people who have them, there is a lot of control in a few hands.

So recognize the value of using them in property wholesaling, but think about the consequences of having too much virtual money.