Bitcoin has grown in popularity as a result of its strong presence in the financial sector. In reality, the data suggests that this new type of money is a success, with thousands of investors using it globally.
Given its strong presence in the world of finance, bitcoin has become a popular currency. However, other people think bitcoin is still in its infancy and has a lot more to give. This article will discuss some of the characteristics that distinguish this money.
Bitcoin outperforms all other asset types.
When all crypto-currencies were under attack, bitcoin was the only one that only lost 67 percent of its value compared to its all-time high. In comparison, the values of other crypto-currencies have dropped by up to 96 percent.
Looking back, though, it is obvious that Bitcoin is increasing every year. Those who bought bitcoins between 2009 and 2017 will have earned a profit of 500 percent to 5,000 percent or even more!
The gains for individuals who purchased it earlier may be in the hundreds or tens of thousands of percent. The only time you’ll lose money is if you bought bitcoin between November 2017 and March 2018, when it was worth $20,000.
A bright future awaits
Many significant real-world issues can be solved using crypto-currencies. Here are some examples of practical applications:
- They are providing financial services to the unbanked. Banking remains a problem for the world’s approximately two billion unbanked individuals. Corruption, politics, and poverty are the major causes. Anyone with an internet connection may participate in this decentralized revolution and escape persecution thanks to cryptocurrencies like Bitcoin. Cryptocurrencies are fundamentally decentralized, which implies that any government cannot restrict them and that anybody may use them. On sites like you may freely trade.
- Cryptocurrencies, unlike government-backed currencies, are considerably more difficult to seize. They have returned financial power to the people. Venezuela’s current financial crisis is a recent example. People are attempting to flee with their possessions and money as the value of the national currency depreciates. Regrettably, it has been claimed that the government has seized whatever precious items it can, such as gold and silver, throughout the process. The government would have no means of confiscating crypto-currencies if everyone possessed them. Venezuelans would also be able to transfer their digital assets to friends and family globally, digitally, and privately.
- Several crypto-currencies are intended to be secret and anonymous. These two elements are responsible for returning power to the people.
- It is less expensive to use because there are no intermediaries, fees are substantially reduced. You may transmit transactions to anybody through the blockchain using crypto-currencies, eliminating the requirement for a bank or a trusted third party. Fees are kept low by avoiding third parties. Traders, investors, merchants, and people transferring money to family members in other countries benefit from having a worldwide system with low costs.
So, if you’re still on the fence about investing in this cutting-edge money, have a look at the advantages.