Bitcoin is a digital currency that was first introduced in 2009. It operates on a public ledger called blockchain, making each transaction pseudo anonymous and unable to be manipulated. When Bitcoin was first introduced, only a select few underground computer nerds really knew about and used the cryptocurrency.
Over the last decade, Bitcoin’s popularity has grown immensely. Some of the longest and most-respected industries are beginning to accept Bitcoin and/or build applications that allow them to conduct businesses using Bitcoin and its underlying technology, blockchain. With all that said, you may be wondering what the real benefits are to investing in Bitcoin. In this blog post, Coin Cloud explores four benefits to investing in Bitcoin.
When Bitcoin was first launched, it was built with the idea that Bitcoin would replace fiat currency as the main currency used to buy and sell everyday items. While that idea has come to fruition with many companies, both small and large, now accepting Bitcoin as a legitimate means of payment, the usages for Bitcoin expand far outside of that.
Some of the other services that can be completed using Bitcoin is the trading of securities, trading of land titles and property, insurance claims, payment rail for remittances, customer rewards, crowdfunding and so much more. We are very much still in the early stages of Bitcoin and all that it can do.
As Bitcoin continues to mature, these services will become more developed and other usages will continue to pop up. So, if you’re in it for the long haul, investing in Bitcoin makes sense because of the impending benefits that will be present in the future.
Although it is still hypothetical and there is no definitive answer to this question, several experts believe that Bitcoin will become a major component of the global economy in the next few years. If this does happen, Bitcoin will began to seep into every aspect of our lives, in both domestic and international trade.
This widespread adoption will continue to skyrocket bitcoin’s price, meaning the profits gained will be greater than the potential losses. While of course this is just a prediction, the positive progression of the cryptocurrency market over the last decade is a great signifier of what’s to come in the future.
Sure, Bitcoin is absolutely a currency and, as mentioned earlier, can be used to buy and sell everyday items like any fiat currency. However, due to Bitcoin’s price instability, it should instead be viewed as a digital commodity, kind of like a digitized form of gold. By buying Bitcoin, holders can take advantage of the fluctuations in its value and profit in exchange. As time progresses, the cryptocurrency will continue to gain traction and momentum, causing its value to increase before eventually allowing it to be traded similar to gold.
Unlike fiat currencies where your funds must be tied up in a long-term investment account in order to make any real gains, the fluctuations in Bitcoin’s price allow holders to profit in a short amount of time. In addition, any funds that you invest into Bitcoin can be accessed immediately.
For example, let’s say you have a Bitcoin account that’s valued at $10,000 and you go to a theater and want to purchase your movie tickets using bitcoin. You can very easily and immediately use a portion of your bitcoin to complete this transaction. With fiat currencies tied up in an investment account, liquidating those funds to be used for everyday transactions cannot be done as quickly as Bitcoin.
These are just four benefits to investing in Bitcoin. There are far more that exist outside of this list, but for the sake of your time, we’ll explore others in a later blog post. In short, buying Bitcoin is a great move and the value of your investment is likely to continue increasing as the years go on. As the cryptocurrency matures and more applications are developed, Bitcoin will surely become a major asset within the global economy, and those who hop on the train early enough will reap all of the benefits that Bitcoin will have to offer.
To buy and sell Bitcoin quickly and easily with cash, find your nearest Bitcoin ATM here.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
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