Why Use Bitcoin?
With advancements in technology, Bitcoin has seemed to gain the financial market by quite the storm. It is a new and improved way of conducting digital transactions and has enjoyed a high demand since its inception.
There are many uses of Bitcoin that we’re going to discuss later but first let’s look at why you should consider using Bitcoin rather than other currencies.
Why Use Bitcoin? – Bitcoin vs other currencies
We know that Bitcoin is the emerging and the most prominent cryptocurrency present in the industry.
So, how does it work? Well, Bitcoin is used to allow one person to send money to another, directly. It’s a fast and efficient means for the sender and receiver remain relatively anonymous whilst making sure that transactions are safe and secure.
You no longer require a third-party such as Pay-Pal or Visa to help you make your transactions.
Having a Bitcoin and using the Bitcoin Blockchain is enough for you to transact, since there is a direct contact between both the buyer and seller.
It’s a better process when compared to the way that paper money and other similar currencies are used. Traditionally, they would require you to involve banks or other third-party financial services to make transactions.
People often ask the question “why use Bitcoin?”. Well, we’re here to answer this question of yours.
With many uses for Bitcoin, some of the reasons why they’re better to opt for than traditional stocks and shares which include:
- Online shopping made easier
It’s effective and quicker as you don’t have to be worried about making payment through different channels.
- Faster, cheaper and more secure whilst making transactions
There’s a clear track of your transactions so you know where your payments are going. With no involvement of third-party services, you don’t have to deal with transaction costs.
Why Use Bitcoin? – Why should you buy and trade Bitcoin as opposed to the Forex or traditional Stocks & Shares?
There are many ways in which Bitcoin and the Forex are similar, especially since they can both be traded in a similar way and using similar strategies.
However, the difference arises when it comes to the safety and integrity of the trade of Bitcoin and Forex.
While Forex and other stocks have been present in the financial market for a long time, Bitcoin has proven to be more secure to buy and trade.
When it comes to stock exchanges and brokers, you’re bound to find some unscrupulous ones, or bad arrangements that might not be beneficial for you.
Bitcoin, on the other hand, seems to dominate the online security arena.
With the transparent and auditable transactions made through Bitcoin, it has proved to be much better than relying on brokers.
Trading Bitcoin can also be a safer option, since Bitcoin is designed to not be influenced by political pressures or financial market collapse.
Why Use Bitcoin? – The future of Bitcoin
There are various assumptions made on the future of Bitcoin and whether it’s going to enjoy a positive or negative outcome long term.
The assessment can only be made once everyone understands what Bitcoin is. Understanding the fundamentals will help investors to realize how beneficial it can be for them.
Bitcoin is the new system of making digital transactions and with the high number of people opting for trading and investing in Bitcoin, it’s only a matter of time before mass consumer adoption starts to happen.
Why Use Bitcoin? – Read more about Bitcoin
Here are two great articles for you to learn more:
- Learn about Bitcoin Mining here.
- Interested in knowing more about Cryptocurrency Exchanges?