INSIGHT
Also, by using a bitcoin Visa debit card, you can enjoy the purchase freedom of Visa, while also being able to get the money out in minutes, a major advantage over traditional debit cards.
6) Getting paid affiliate commission in BTC means I risk being paid less because of the volatility of the cryptocurrency Volatility will affect your commission only if you decide to hold on to your bitcoin for a long time. When you receive your BTC, there’ s no need for you to wait before converting them.
A great way to avoid currency fluctuations would be to sign up for a bitcoin Visa debit card. This gives you the opportunity to instantly load a card with the amount in BTC, and get the current exchange rate in whatever fiat currency you decided to issue the card in.
Personally, we at BitStarz believe in the ongoing growth of BTC and therefore we recommend saving at least a proportion of the commission in BTC as an investment.
8) I was promoting a casino for a month and earned a couple of BTC and they aren’ t worth keeping The ironic thing about bitcoin( and something that a lot of people get thrown off by) is that it sounds like it’ s not worth anything. Sometimes people look at you like you’ re crazy when you’ re happy about having a couple of bitcoin in your wallet, but that is merely because they don’ t follow the rate.
Let’ s look at a couple of milestones: back in December 2011, BTC was valued the same as USD, which was seen as a major breakthrough for bitcoin. In September this year, BTC reached its alltime high of a staggering $ 5,000, which means that if you had a few BTC right now, you’ d be very happy. own research as to what’ s best for you. However, we find these exchanges are some of the most reliable and trustworthy.
10) Bitcoin is not backed by anything and so it’ s a Ponzi scheme Well, fiat currencies aren’ t backed by anything either. There was a time when the US dollar was backed by gold and during that time there was a gold reserve tied to the currency itself, but not any longer. Therefore, what you’ re holding in your hand is basically paper money, and the money in your account is merely numbers on a screen.
But BTC is different and actually has value. This is why many see it as digital gold, outside the fiat sphere, and not sensitive to inflation, devaluation, interest
“ If you had made $ 1,000 in affiliate commission in December 2011, taken that sum out as BTC and held on to them until now, you’ d now have $ 5m in your account”
7) I don’ t have any BTC gambling traffic so there’ s no point listing and promoting bitcoin casinos We’ ve heard this a few times before, but you’ d be surprised to know how many people use bitcoin out there. We’ d wager that you probably have a lot of BTC gambling traffic, you just don’ t know it.
The use and price of bitcoin have jumped over the years, which gives you an opportunity to tap into revenue that you perhaps didn’ t know about. If you do have BTC traffic( and we think you probably do), the chances are the customers purchased these a while ago and saved them, meaning they have made quite a bit of profit. And that means they have more money to spend on gambling.
It’ s also important to know that for harder-to-reach markets, where other payment options for gambling are limited, BTC is the ultimate solution. Why not use bitcoin to venture into those new areas?
If you had made $ 1,000 in affiliate commission in December 2011, taken that sum out as BTC and held on to them until now, you’ d now have $ 5m in your account. That’ s a staggering amount, and we believe that BTC will keep on increasing in value over the years.
9) I have money in my Skrill wallet but I can’ t buy bitcoin with that No problem at all. There are plenty of other payment methods to get BTC. At bitpanda. com, for example, you can buy BTC and many other cryptocurrencies using Visa, Mastercard, Skrill, Neteller and Giropay, to name just a few.
Cubits( cubits. com) is also a very popular place to acquire bitcoin. You can pay with Visa, Mastercard, OK Pay and international bank transfer.
Some exchanges are better than others depending on your geolocation, and it’ s always a good idea to do some of your
“ For harder-to-reach markets, where other payment options for gambling are limited, BTC is the ultimate solution. Why not use bitcoin to venture into those new areas?” rates or anything of that nature. It’ s a safety net that people cling to in times of heightened insecurity in the world.
Another similarity with gold is that there’ s a cost involved in mining the coin, just as there’ s a cost in mining gold. Currently, it costs about $ 1,000 to mine a single bitcoin, which gives you an indication of its value. In other words, value is created because a certain amount of electricity goes into it, and the value of that electricity is transferred to the coin.
There is of course a supply-and-demand aspect as well, and because the number of BTC is limited, the price goes up if more people believe in them and purchase them.
SRDJAN KAPOR is an affiliate and marketing manager at BitStarz casino, the first in the world to offer both bitcoin and fiat currency gambling. He has been in the casino industry for four years.
64 iGB Affiliate Issue 65 OCT / NOV 2017