Best Bitcoin Card for Micronesia

Buy an island in Micronesia with Bitcoin

Bitpremier is the name of a trading platform on which everything can be paid for with the Internet currency. The island Satoshi costs 1087,884 Bitcoin.

Do you have Bitcoin and don’t know what to do with it? If you don’t like the private island with fresh water source in Micronesia, then maybe a convertible Ford Falcon Hot Rod would be something for you. The Bitpremier website has all kinds of luxurious curiosities. The only thing they have in common is that everything can be paid for with the Internet currency, as the business agency Bloomberg.com writes. Because the platform was created to give Bitcoin owners more opportunities to spend.

Bitcoin – what is it?

Bitcoin is a worldwide payment system. It has emerged as an alternative currency that is not dependent on central banks. Transfers are made directly via the Internet from one participant to another. So-called digital wallets or e-wallets are used for the transactions.

Bitcoins can be exchanged and bought on online exchanges, for example. Another possibility to purchase Bitcoins are specialised ATMs, where cash can be exchanged directly for Bitcoins and transferred to an e-wallet via a QR code. The value develops on the basis of supply and demand.

Trading Bitcoins involves risks. In the past, Bitcoin stock exchanges have experienced several bankruptcies and investors have lost their money. Critics also complain that the price of Bitcoins is subject to massive fluctuations and that the online currency is being misused for money laundering.

The digital currency is slowly starting to roll. After the computer manufacturer Dell, the Internet payment service Paypal now also accepts Bitcoins. Bringing demand and supply together directly is also the idea behind Bitpremier, a platform founded specifically for luxury goods. Until the beginning of 2013, Bitcoins had only been able to buy T-shirts, coffee cups and alpaca stockings, as Alan Silbert says according to Bloomberg. That was the reason for him and his brother to found Bitpremier in May 2013. “We saw a big gap in the market that we wanted to fill.”

Villa sold in Bali thanks to Bitcoins

Thanks to Bitpremier, one of the largest transactions with Bitcoins to date was concluded: last February, a villa with two bedrooms and pool in Bali was sold for 950 Bitcoins or CHF 614,300. The seller, German property developer Ronny Tome, knew little about Bitcoins and only used Bitpremier to offer his houses to more potential buyers. It only took a week for a potential buyer from Texas to contact him. It then took another four months to conclude with him, and the Bitcoins transfer was completed within minutes. At banks a money transfer would have taken days.

After the boom and the increase in value in 2013, many still sit on their Bitcoins. This year’s crash put a significant damper on their use as an alternative currency. Bitpremier and Paypal should now bring movement into the market again. There are not only owners of the digital currency who do not know where they can pay with it. But also interested parties who are looking for Bitcoins, but do not want to influence the relatively small market, which already reacts to little movement, too strongly. Trading platforms that bring both sides together directly can remedy this.