In case you’ve been on another planet for the last few years, you will have at last heard some talk of bitcoin. This cryptocurrency is the first decentralized digital currency. It stands to operate without banks or administrators. In an increasingly bizarre political climate, it’s unsurprising that an alternate finance system has come to the fore.

But, bitcoin isn’t without its problems. This unprecedented financial system is currently up and down like a yo-yo. The cost of one coin is rocketing from $2,000 to $15,000 in the space of one day, and no one can quite understand it. But, one thing that everyone seems to agree on is that bitcoin is in high demand.

Yet, many companies are hesitant to trade in bitcoin. This is mainly because there’s no model to go by. But, with the currency rising by 900% in two years, it’s something worth considering in any ecommerce startup. Knowing whether to accept a currency like this is tricky. There’s no sure answer. Even the experts and unsure about how this could go. But, to help you decide, we’re going to look at a few of the main points worth considering.

Some big businesses are doing it

It’s true that most businesses don’t accept bitcoin. But, some great forerunners do. Most notably, Microsoft has been backing bitcoin since 2014. As well as allowing bitcoin in their Xbox live and Windows stores, they’ve developed Excel for the cause. When it comes to being at the forefront, Microsoft is a pretty decent lead to follow. Paypal has also jumped on board. They, too, have accepted bitcoin payments since 2014. With help from companies like Xcoins, some people are even purchasing bitcoin with paypal. Other companies worth noting include Intuit and Overstock.

It could set you ahead

For the most part, being ahead of the latest trends is a sure way to reach success. Failing to consider currencies like bitcoin could slow down your business. Remember, you wouldn’t be the first company to take a risk on an untested development. If you sit back and never take chances, you probably won’t make it through your first year. Trading in a volatile currency is risky. But, it could see you being the next big thing.

There may not be a market

That said, it’s crucial to note that there’s good reason many companies aren’t trading in bitcoin. In fact, out of the top 500 internet sellers, only three accept bitcoin. For the most part, this is because there doesn’t seem to be a calling for this service. While bitcoin ever appears to be soaring in popularity, people aren’t spending it. For example, it accounted for just 0.0002% of Overstock’s revenue last year. For the most part, it’s thought this lack of demand is due to the ever-increasing stock prices. People are hoarding their bitcoin to see if they can make more for their money. So, it’s worth thinking long and hard about whether this would be the right choice for your business.