There is considerable profit to be gained with cryptocurrencies and blockchain technology, provided that investments are made properly. Bitcoins have been making headlines recently. As Tim Draper believes, “Bitcoins are creating a space that will spark a revolution similar to what personal computers and the internet accomplished in the 1970s and 1990s.” For more information, visit the cryptosuperstar. This article will discuss some of the reasons why you should own Bitcoins:
Table of Contents
Bitcoin’s Regulations are Irreversible
This is the bulleted version of number one. Although new coins are mined and regularly added to the circulating supply, Bitcoin’s supply cap of 21 million coins will never be exceeded. That is a permanent and also public norm. Everyone can check that regulation, but no one has the authority to modify it. This norm stands in stark contrast to the world’s governments, which continue to produce money daily.
The United States does it, and it’s called Quantitative Easing — fancy jargon for ‘we’re creating more money because it’s somehow beneficial to you.’ However, no corporation can make more money with Bitcoin. So, in terms of transparency, is it safe to purchase Bitcoin? If you want your investments to be free of government, bank, or corporate manipulation, and if you’re going to verify them yourself (via a public ledger), then yes, you should buy Bitcoin.
No Returning Back
Simply because your portfolio is not increasing by 30% each morning does not mean you are investing too late. It indicates that you are investing at the correct time.
Bitcoin is and will continue to be Scarce.
One of the primary reasons Bitcoin has skyrocketed in value is its scarcity. If the whole Bitcoin supply were split equitably among the world’s inhabitants, each person would receive only 0.0023 BTC. Therefore, should your initial Bitcoin investment be at least 0.0024 BTC? That would be only $22 as of today.
Cryptocurrency’s Bubble has already burst.
Many commentators said in Q4 of 2017 that Bitcoin’s and other cryptocurrencies’ near-exponential growth was unsustainable. Eventually, it was. However, we have seen a sharp correction followed by a period of gradual stabilization throughout the year.
Weak hands have been shaking, investors have become considerably more circumspect, and regulations have become a little more transparent. Investing in cryptocurrencies is a much safer idea now than it was in the fourth quarter of 2017. For instance, even if your profits are not as rapid or thrilling, the likelihood of you suffering a huge loss after purchasing Bitcoin is significantly lower.
Lower Fees
Bitcoins have almost no transaction fees. Additionally, most of the apps and services built around the Bitcoin ecosystem and used by most end users have cheaper rates than other traditional online payment methods.
Bitcoin is an Open Ledger
Bitcoin operates more transparently than the Federal Reserve does. The Federal Reserve Chairman Janet Yellen condemned Bitcoin. She ran through the standard anti-Bitcoin arguments, including “Bitcoin is a poor store of wealth,” “Bitcoin is slow,” and “Bitcoin is not accepted anywhere.” However, Bitcoin possesses two characteristics that no other currency, not even the US Dollar, has: decentralization and transparency.
Not only do we lack clarity on past fiat currency transactions – i.e., where our tax dollars go – but we also have no idea how much money is printed. Every day, the Federal Reserve creates money, boosting the economy. We do not know the future monetary policy and have no mechanism for auditing the Federal Reserve.
Blockchain Technology is Here to Stay
Many of the projects we see today will fail because they do not provide a viable product or a working product with no real-world use. However, there are other blockchain projects underway today that are certain to succeed. Financial institutions are becoming involved as well—which is excellent news!
Because blockchain technology is still in its infancy in terms of acceptance as a useful technology, it’s critical to remember that not all initiatives will succeed.
Ecosystem of Bitcoin
Hundreds of millions of dollars have been invested in the Bitcoin ecosystem by venture capitalists. Numerous services and applications that empower the end user are now available to non-technical users. As more goods are developed and integrated into the bitcoin ecosystem, Bitcoin’s adoption rate and demand will increase. This means that with a sufficient increase in order, you can transform a few hundred dollars into a few thousand dollars.
It’s never been easier to Purchase Cryptocurrencies
Attempting to purchase Bitcoin in 2010 was enough to scare anyone away. To begin, computers were slow back then; and to compound matters, setting up a wallet, downloading the blockchain, and then figuring out where and how to transmit money to some sketchy website to collect your BTC was a proverbial nightmare.
With Coinbase leading the way, buying Bitcoin, Litecoin, Ethereum, and even Bitcoin Cash are as simple as using a bank card or wire transfer.
