Since its inception in 2009, Bitcoin has been slowly spreading throughout the globe. Although it significantly reduces the risk of fraud and offers more customer flexibility, easy global transmission, reduced processing costs, and lower transaction rates, many retailers are still reluctant to accept it as a form of currency. In 2013, Bitcoin saw volatile swings in value from pennies on the dollar, up to $1,000 and back down to the $300’s where it currently rests today. In the infographic below, Intuit shows Bitcoin’s current place in the retail space

Seeing that some huge mainstream retailers like Amazon, Overstock, Expedia, CVS, and Home Depot are now accepting it, Bitcoin is likely to stick around for a long time. With a total market value of eight billion dollars, the leap of faith can be worth the exchange risk and BitPay will even take that risk for you, offering instant conversion for every transaction. From 2012-2013, Black Friday Bitcoin transactions jumped from 99 to 6,296 and we will see how much that number multiplies for 2014 in a few weeks. Should you choose to accept Bticoin, Intuit advises to watch out for potential tax-compliance risks that the virtual currency could introduce.