Every day, people read Bitcoin news and think that they should invest in them. But most of the people kept putting off the idea, debating and questioning it. There are many people who have gone through the same thing.
It’s been a while now since Bitcoin was created in 2009. The Bitcoin price has been climbing up from $0.01 to $20,000 per coin. So, if you have made the invest 9 years ago, you would have seen 28% per month growth in your investment.
So, what is Bitcoin?
It is a decentralized digital currency which is based upon the blockchain technology. Before this, the only way you could prove that your own digital money is through a third-party such as bank, credit card Company, etc. Bitcoin has resolved this problem with the decentralization of the currency.
Reasons You Should Buy Bitcoin:
To make a well-informed decision, you have to be patient and understanding. Here are some things that should cross your minds as you are thinking of investing in Bitcoin.
1: Bitcoin Rules Are Fixed:
Every day new coins are mined and added to the already circulating supply. But the extent of the mining is limited to 21 million only and this amount is fixed no matter what. The regular companies cannot make more coins as they don’t have the regulations. So, if you are concerned about transparency, Bitcoin is the answer. It can’t be manipulated by governments, banks, or companies for their own profit.
2: Bitcoin is Uncensored Digital Currency:
You must have heard of capital control which is a way of censoring people through their finances. But the decentralization of Bitcoin ensures that it cannot be censored by any government. You will be amazed to know that in 2017, China banned Cryptocurrency, still, the exchange market stayed intact in the country.
3: Bitcoin Transfer Cost Less:
If you are transferring money from one country to another, you have to pay several different kinds of fees to complete the transaction. Instead of having to do the surprisingly expensive international payments, you can switch to Bitcoin. The general fee is in the range of 3.5% to 10% of the total amount you are processing which can be a lot. But Bitcoin prevents that by offering lower fees than all the foreign transfer services.
Nevertheless, Bitcoin regulation is developing positively. Until 2010, the regulations on Bitcoin were non-existent. But in Bitcoin news, you can see that countries are adopting Bitcoin as a standard way to store value and make transactions. The SEC even published a framework for the classification of digital assets.
Improvements like these are helping to legally define cryptocurrencies like Bitcoin. There is no doubt that Bitcoin offers potential profits and yes, it has its dips, peaks, and valleys. But looking at the price before 10 years and now, the investment doesn’t seem a bad idea. If you have invested $50 in Bitcoin around 2009, then you would have had a net value of $100 million today. So, decide if you want to be part of this market or not.