You are probably reading this article after the latest craze from the jump in the value of bitcoin, which saw it just shy of $ 20,000. Now you are looking for reasons to invest in this cryptocurrency and blockchain technology. Here are some of the reasons why you should:
THERE IS MORE
The first thing that many people think when they hear about the current price is that they are late and people who are still buying bitcoin just skip the choice. As a matter of fact, with the years of digging ahead and the currency still in its infancy (more like teenage years), its value is still growing and it is a stable investment.
Blockchain is not just for cryptocurrency. This is the future of the supply chain and the fight against counterfeiting. Super-smart protocols such as DAO (decentralized autonomous organization) and smart contracts are several blockchain-derived things that automate the organization’s work and money transactions.
People are robbed and bank robberies are committed every day. Bitcoin and Blockchain ensure that the money stored in your digital wallet is secure, which is extremely secure from the virtual number depicting your money at your local bank.
Have you ever had a bad experience where you have to send some money to the other side of the world and the amount of fees for currency conversion, opening letters of credit, bank fees, etc. made you shiver? Bitcoin removes all this. Since there is no banking system when it comes to cryptocurrencies, there is no intermediary like a bank. You can avoid all these excessive fees by sending money directly to the intended recipient.
TIME IS MONEY
Did we mention that you can send the money directly yourself? This saves you time as you do not need to fill out forms and applications. Just ask for the recipient’s public address and click on the required amount.
As the number of bitcoins is limited (only 21 million will ever be produced), the value of this cryptocurrency cannot be devalued, as limited supply but ever-increasing demand means that it is only a floating currency. No inflation means an excellent investment.
Do you remember the Greek financial crisis, when city councils were asked to hand over extra cash to the central bank? In a normal currency, the central bank is the owner, not you, and can force you to return it to them. Bitcoin is not owned by anyone but you for the amount in hand. No one can repel you.
It’s not too late to invest in bitcoin and blockchain, but like any other currency, the future is unpredictable. Carefully study the charts of your preferred bitcoin exchange before embarking on an investment.