You may be wondering just what is bitcoin and why you should use it.
Bitcoin utilizes a decentralized network which allows users to make discrete and direct transactions without the use of a middleman to manage the entire exchange process.
Because it is a complete digital asset, it can be used in exchange for goods and services and it has the advantages of being portable and irreversible.
Therefore, it has numerous advantages for both the sender and receiver.
Top Performing Currency
Bitcoin has been a constant top performing currency for the past five years.
This alone should put a significant amount of weight in Bitcoin, it’s longevity, and it’s overall viability.
Another reason to use Bitcoin is that it is a complete global currency that can allow for an equal exchange across borders.
Because it is a global currency, you can send it to anyone, anywhere without having to worry about various fees associated with the transaction and without having to worry about exchange rates.
Complete Access To Your Funds
Because you will be able to utilize something like Blockchain’s to keep your funds safe, you will not have a bank blocking or locking access to your funds.
This alone is a great way to provide yourself with a lot more security given you will have complete access to your funds at all times.
Everyone Has Access
Because it only requires Internet, everyone has the ability to access it and it is completely globally inclusive. Thus, it is a great way to transact across the globe and even secure a better and much more stable financial future.
How They Are Created
Bitcoins are essentially created as a reward for mining. These coins can be exchanged for goods, services, other currencies, and more.
Is It Viable
While Bitcoin did take some time to catch on, over 100,000 merchants now accept bitcoin as a payment method.
Therefore, you can utilize various services such as Coinbase or BitPay in order to convert bitcoin to the local currency that you are going to be paying with.
While these services do have transaction fees, it is a much better way to pay.
What Is Bitcoin? Investment Potential?
Because Bitcoin is a digital currency that is continuing to gain steam in the mainstream market, it can be seen as a very good investment opportunity even to this day.
Overall, there are a lot of different things to learn about cryptocurrency and some of the reasons to use Bitcoin.
It is the number one cryptocurrency and that is likely not going to change anytime soon.
A majority of those that are into cryptocurrency are using Bitcoin. Therefore, it is perhaps the safest way to invest in the cryptocurrency market.
There are plenty of benefits to using a cryptocurrency like Bitcoin.
Not only do you have complete access to your money, but you do not have to worry about a middleman nor having your financial information exposed through the use of a middleman either.