It has been 11 years since Bitcoin was first created. Its value has skyrocketed from nothing to around $11,800 per 1 bitcoin. More and more investors have become interested in cryptocurrencies especially Bitcoin as it has been the leading one for years now. However, because of people having little knowledge of Bitcoin or cryptocurrencies as a whole, the majority of investors around the world have still not been accepting of this new form of currency. Investors who have already ridden the Bitcoin wave believe it would be an opportunity cost for others if they don’t start investing now.
Here are some of the relevant points why you should invest in bitcoin now:
- Bitcoin is accessible and convenient.
People’s first impression on bitcoin is that it feels too complex for people who are not tech-savvies, thus discouraging them from investing. With constantly advancing technology, Bitcoin has become more accessible for any individual. Different mobile applications and websites like the Bitcoin Bank have served as cryptocurrency trading platforms that make transactions under bitcoin easily understandable.
- Availability
As Bitcoin operates digitally, all you need to have is internet access and a smartphone to be able to transact anywhere and anytime. Also, because it’s virtual and unregulated, you gain freedom in paying whenever you need to. You don’t have to worry about whether office hours have started or whether the office is closed or not.
- Cost-effectiveness
Since bitcoin is not regulated by the government and does not need intermediaries like banks, transaction fees which we normally pay for in traditional systems of money are avoided.
- Beyond the borders
Globalization has long been a goal for our countries and their industries. Through the years, we have been slowly getting there. International trading has taken its course and companies have started investing in projects outside their own country. With this, bitcoin shows its usability in making borderless transfers available for us.
- Security
Blockchain technology is a complex system where blockchains serve as a database of all the records of transactions of a certain block. Before transactions are recorded in these blockchains, miners of bitcoin first collectively confirm the legitimacy of the transactions. Thus, bitcoins cannot be counterfeited due to the difficulties of understanding cryptographic elements.
- Pseudonymity
Instead of personal information, bitcoins and transactions are traced to our wallet IDs. This provides us with a more comfortable platform for exchanges.
- Efficiency
One of the benefits you can derive from utilizing bitcoins is the instantaneous service of having a transaction confirmed within minutes.
- Decentralization
Because bitcoin is a currency on its own, created by an anonymous person through cryptographic solutions or simply, mathematics. The supply of bitcoin set at 21,000,000 is not something that the government can control or can regulate. In almost every country, no laws have been established on the use and transactions of bitcoin.
Experts believe that someday cryptocurrencies will dominate our market and the use of cash will be obsolete. Although the future may seem unclear and uncertain, this may be the time to invest in bitcoins as people speculate it to continue to be a great opportunity for profitable investments and diversification of portfolios.
