But it is still unclear if the currency is a fad or evolve into a valuable tool for business.
Currently it is accepted by a small number of retailers. David Woo , director of the research department of coins and currency rates investment banks Merrill Lynch, believes that those who use it , do it for the publicity it generates them .
"Companies like Victoria 's Secret are probably using to promote themselves as a brand that is fashion."
Woo added that another important reason that traders have to use bitcoin is that it is a way to accept payments at very low cost .
" The credit card companies will charge sellers between 2% and 3 %, but the position of the virtual currency is zero ," says Woo .It is also useful to send money for free to other countries.
Disadvantages
But there is a problem with the commercial use of bitcoin at this time."Volatility is the main reason for not using it , that's the biggest challenge ," says Woo .
This is because although speculators exploit the large fluctuations that occur in the value of the currency in the market to make money , traders do not like that kind of risk .
These movements imply that gains in the goods or services offered may disappear when the currency depreciates , so bitcoin prices have to be checked and adjusted frequently .
