Bitcoin, touted as a disruptive digital currency when introduced in 2009, is getting a second look from different industries nowadays primarily because of its price that is now dominating the headlines.
In 2016, Bitcoin had a more than 100 percent return on investment with prices hovering between US$800 and $1,200. Bitcoin’s price as of last weekend was at more than $1,200.
While the price is rather enticing, many affiliates are still unsure when is the right time to jump on the bitcoin bandwagon or stay on the sidelines and wait for further signs. The volatility of the cryptocurrency is adding to the jitters of some entrepreneurs.
Oron Barber of CoinPoint, however, has allayed fears of these affiliates on Bitcoin, saying that this year is the right time for them to embrace the cryptocurrency now that the global market is evolving.
“We realize in 2016, most affiliates are asking about bitcoin. They’re checking how they are going to make money from bitcoin. The market is kind of beginning to be ready. The product of their sports betting casino, poker, dice, all of them, affiliates just needs to step into the water and jump in,” Barber told CalvinAyre.com. “Any operator who will find his niche, whatever he knows what to do, bingo from Vietnam or whatever, focus on bitcoin, specifically in Vietnam for bingo players.”
Barber pointed out that there are two different approaches to reap the fruits of investing in the popular cryptocurrency. Affiliates may focus on players that already have Bitcoin or introduce non-Bitcoin casino players to the bitcoin space.
“For affiliates, all that they need to do is search online, look for Bitcoin casino affiliates, look for the solution, look for how they can easily check out money with a kind of ATM card and start sending the traffic,” he said. “Most of the operators in the space are reliable. Of course make your research.”
Barber, meanwhile, advices affiliates to go for operators that are accepting both fiat and Bitcoin currencies instead of approaching operators that are only for Bitcoin.
“The majority of the operators are accepting both Bitcoin and fiat. Some of them are taking Bitcoin only. I would recommend to start with Bitcoin that accept fiat as well, only because of the reason that sometimes you market to the Bitcoin player but eventually, when it comes to the cashier, when you make a deposit, you will need money,” Barber said.