Bitcoin is the pioneering digital currency, and the world got to know about it in 2009. It is being called the digital currency of the future and gaining huge popularity worldwide.
What is more amazing about bitcoin is that there are direct comparisons between bitcoin and fiat currency these days. One may think this is something unnatural and without any reason.
Some features of Bitcoin
The bitcoin transaction is impossible to chargeback, or reverse.
The bitcoin-producing process is called the mining process that needs valuable hardware.
You cannot spend a bitcoin twice or make any dispute to it as it is a digital currency.
It has many patrons and supports.
There is only 21 million Bitcoin, which are halved every four years.
It operates on blockchain technology.
Why is bitcoin considered better than gold these days?
The reason behind considering bitcoin to be better than gold are many. Here are they-
Bitcoins are rarer than gold
It indeed is rare. There will never be more than 21 million Bitcoins ever in the world. You cannot create it, and the maximum number is also fixed.
It is easily dividable
Gold cannot be divided into the smallest parts than Bitcoin, which is further subdivided into 100,000,000 satoshis.
The Bitcoins market will go on as long as the internet is working. And you can use bitcoins like Wyzth Coin to make payments, which you cannot with gold. Apart from that, you can only make ornaments with gold and get a good amount of money once you decide to sell them. Here you can check the Incentives of Using BTC.
Is bitcoin better than fiat money?
The answer is debatable. Bitcoin is a new entrant facing challenges, and it will take some time for it to be like mainstream currency. But there is considerable growth in the acceptance of Bitcoin and investment in it. We have gathered some of the reasons we think are better regarding bitcoin.
It is impossible to duplicate it as it is a digital currency and not something with a physical body. Additionally, bitcoin uses blockchain technology which records details of every transaction.
For fiat coins, it is not possible to have a uniform value all across the globe. However, it is possible in the case of bitcoins. It has the same value all over.
No government interference
Another good thing about bitcoin or cryptocurrencies is, no government body or authority can interfere with digital currencies.
Why Bitcoin? Why choose Bitcoin over other crypto cryptocurrencies?
Here lie various reasons why it possesses more value than other cryptocurrencies. It is different from others for valid reasons. Here are some of those-
It gets a large amount of attention from its investors
Based on the records, to date, more than 10 million bitcoin wallets have been created all across the globe. As the value of the currency is going upward, more people are investing in bitcoin to have a safe and secure transaction
Big businesses are choosing bitcoin transactions
As big businesses like McDonald’s or Amazon are showing inclination and promoting bitcoin transactions, it is gaining more popularity. Popularity, but when these are associated with bitcoin, it proves how trustworthy bitcoin is.
It was first on the market
Bitcoin was the first on the market. With it came the concept of cryptocurrency. Not just the idea of cryptocurrency, but the infrastructure has also made it successful. Whenever any new user wants to be an investor, the bitcoin gets the coverage for its popularity. And, as bitcoin is the most famous one, most of the new users chose Bitcoin at last.
Where to invest? Stock or crypto?
Until bitcoin came into the scenario, the stock market was considered the most volatile. However, concerning cryptos, stocks seem way less in case of volatile. You can now invest in a stock that moves slowly now. Risk involves it, but not as much as bitcoins.
On the other hand, if you think that you are up for a rollercoaster ride, where your money can be doubled, tripled, or you can lose it all in one day, you should go for bitcoin investment. As we know, no risk, no gain.