Ever since Bitcoin hit the mainstream it has developed a large following, with many people worldwide having heard of Bitcoin. But why is Bitcoin so popular? There are many reasons behind this, but some seem to be more obvious than others. Firstly Bitcoin provides anonymity while making transactions which encourages an open economy, there are no credit card fees when using Bitcoin and it cannot be counterfeited or reversed arbitrarily by merchants.If you are interested in bitcoin then you need to explore Brexit Millionaire, an authentic guideline for starting your bitcoin journey.
Replacement with Fiat Currencies
Some people believe that Bitcoin will replace existing fiat currencies in the future due to its borderless nature and decentralised network which makes taxation difficult for governments if they choose to regulate Bitcoin negatively. Some also argue that currencies such as Bitcoin can't have negative inflation, unlike traditional finance where countries print money to stimulate their economies through the increase in money supply thus creating inflation. Bitcoin is a scarce economic resource as only 21 million Bitcoins will ever be available, which encourages saving rather than spending.
Useful Features of Bitcoin
One of Bitcoin's most useful features is its ability to offer fast transactions with low or no fees. Bitcoin payments can be sent from anywhere in the world and can arrive within minutes if not seconds due to Bitcoin being decentralised allowing it to operate without as many restrictions as centralised financial institutions such as banks. This means that merchants do not have to wait days for their money if they choose Bitcoin over another payment option such as credit cards or PayPal (News - Alert).
Credit card companies take a percentage of each sale, up to 3-4% per transaction plus fixed fees depending on the type and size of transaction and merchant involved, Bitcoin allows merchants to sell goods and services with a low overhead due to Bitcoin being free in many cases to send and receive payments. Bitcoin provides an excellent way for businesses in any industry to reduce costs, making Bitcoin a tool for merchants worldwide.
Bitcoin is borderless allowing it to reach all corners of the world without restriction, Bitcoin can be sent quickly and cheaply from anywhere in the world so there are no problems when doing business globally. Bitcoin users do not have their transactions limited by borders or nationalities which makes Bitcoin very attractive to people who want financial freedom without restrictions on how they spend their money.
As Bitcoin is decentralised it cannot be censored nor controlled by governments hence there are no negative ramifications such as bank account closures or removal of funds if you speak out against Bitcoin or send Bitcoin to someone that the government doesn't like. Bitcoin is an independent currency and people using Bitcoin should be independent in every sense of the word!
Bitcoin's future looks bright, many global companies such as Microsoft and Dell (News - Alert) now accept Bitcoin and in Australia alone Bitcoin has over 17 ATMs and growing making it much easier to access Bitcoin, thus creating a better environment for Bitcoin users worldwide.
The right time to invest in Bitcoin
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoin has seen a tremendous increase in value over the past few years, and many believe that it is still undervalued. If you're thinking about investing in Bitcoin, now may be the right time.
Conclusion
Bitcoin has become more and more popular in the past few years. Bitcoin's market cap is currently over $40 billion and continues to grow steadily. Bitcoin, unlike traditional fiat currencies such as Dollars, Rupees, or Euros, isn't tied to any bank or government. It allows you to send money anywhere around the world at negligible fees compared to using a regular wire transfer service or exchange office.
This saves you time and money that would otherwise be spent on transaction fees when exchanging your local currency for Bitcoin through an online service like LocalBitcoins. The process of buying Bitcoin from a service like this used to be fairly difficult for new users but now with these great services it has become fairly simple even for non-technical savvy individuals!
