Are you joining the Bitcoin craze? Or do you think you shouldn’t join the party? Since Bitcoin’s inception in 2009, it has continued to gain traction in the market and is increasingly becoming more valuable. These days, a bitcoin is worth three times as much as an ounce of gold. While the price of this cryptocurrecy is quite volatile, it has been good at bouncing back within a short time and then reached new highs. So to help you decide whether or not jump into the Bitcoin wagon, consider these facts below:
The World is Considering Cashless Options
These days, people can buy without using cash. This is evident in the evolution of digital payment services like PayPal. But, the decentralisation of Bitcoin is faster and promises lower fees than others. In fact, it has been able to gain significant traction in its 8 years in the digital world. Investors have been attracted to digital currencies, increasing the demand for Bitcoin both as a currency and an alternative investment.
Bitcoin is Increasingly Becoming More Legally Acceptable
The launch of Bitcoin in 2009 saw governments and regulators being skeptical of the cryptocurrency because they do not have control over it. But, regulators these days are starting to change their minds because they recognise the deliverable promises of this digital currency to their people and economies. Last year, Japan accepted bitcoin as a payment method and Russia and Australia have made an announcement to consider the same move. As acceptance continues, bitcoin’s price can go higher.
More and Faster Transactions with Lower Fees
Bitcoin developers upgraded their bitcoin blockchain to make it possible for the network to process more transactions to allow for faster transactions and lower fees. Last year, a bitcoin transaction can be completed in about 30 seconds.
Improving Reputation and Image
Before, the use o bitcoin was usually associated with the unscrupulous underworld because of its decentralised features. These features let anybody send money to somebody without regulations and restrictions to identify the account holders. But gone were the days when bitcoin was called the currency of underworld criminals.
The currency has been able to stand the test of time and emerged as an acceptable digital payment method and investment that established big fund management companies have decided to invest in it. So do you think you should invest in Bitcoin this year? Well, you should! Look for bitcoin dealers now and join the celebration.