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Check These Reasons Why You Should Be Excited About Bitcoin
A global currency revolution is coming. It’s been brewing since 2009 when Satoshi Nakamoto (real name Craig Wright) invented bitcoin, the digital currency that doesn’t have a physical form and can’t be withdrawn from any bank.
Since then, bitcoin has only grown in significance and stature. More and more people are adopting this currency around the globe, and as they do, bitcoin will grow in value. Here are 8 reasons you should be excited about bitcoin.
It’s incredibly secure
Bitcoin is one of the most secure currencies there is. This is due to a security protocol known as blockchain. In essence, blockchain uses a ledger distributed among peers in a network to secure transactions. It’s not massively dissimilar to the way Google documents and spreadsheets are shared among peers for editing.
This means that every time you make a transaction with bitcoin, it’s almost guaranteed not to be intercepted by third parties. You’d need some serious hardware and hacking nous to be able to get to a bitcoin transaction. If you’re doing business with bitcoin, you won’t need to worry about security risks. Blockchain is one of the ways in which fintech will change the financial services industry.
You can trade it with bots
It’s true! Using intelligent AI, you can trade bitcoin entirely independently. You won’t even need to be at your computer for some of the best bitcoin bots.
Websites like captainaltcoin.com collect and compare bitcoin trading bots to give you the best deal and the best software you can possibly get for this task. How would you like to make money without doing the lion’s share of the work?
Bitcoin can fluctuate sometimes in value and price from day to day. Bots are the perfect way to keep track of that and ensure you’re always trading at your best. Bitcoin bots are easy to use, intuitive, and – best of all – lucrative. This is just one of the many advantages of bitcoin.
With Bitcoin, you won’t need to worry about dividing up your funds between your wallet and your bank account. Bitcoin is an entirely digital currency; it doesn’t have any kind of physical standard attached to its valuing. Unlike traditional currency, bitcoin doesn’t use the gold standard and it doesn’t value itself by any kind of precious material.
There are finite bitcoins in the world – around 21 million in total – which is how the currency is valued. You’ll easily be able to keep track of your bitcoin because there won’t be anything physical lying around that you’re forgetting to count.
It removes third parties
Bitcoin was created in order to eliminate, or greatly diminish the role of, third parties in financial transactions. Creator Satoshi Nakamoto intended to create a “trust-less” system whereby you wouldn’t need to rely on third parties to cover back-office expenses, take security measures, or account for fraudulent activity.
Bitcoin is a peer-to-peer currency system with no intermediaries involved. As such, any transaction you make is completely tied up with the person you’re paying and nobody else. Of course, this could lead to potential problems, but the benefits far outweigh the risks in this case.
It’s totally decentralized
There’s no central bitcoin bank handling all transactions and passing everything through their central server. Because the currency uses blockchain, there’s no need for a nerve center to operate bitcoin. Instead, every customer who is making a transaction acts as a collective nerve center.
This means that nobody will be taking a cut of your transaction and nobody will be interfering with it. Each bitcoin exchange is just you, your intended recipient, and the currency. This also makes it much harder for bitcoin to crash; there won’t be any single financial authority making a mistake that causes the whole thing to crash.
It’s good for developing nations
One of the most horrifying things that are happening right now in developing nations is corrupt governments grabbing money that’s intended to help people. Bitcoin could circumvent the unstable, unsteady economies of those countries and help people to make direct connections with one another.
It’s not hard to see a future in which charitable donations can be made via bitcoin to ensure they reach their intended recipients. Bitcoin isn’t just a currency with a personal application; it’s also a technological force with a truly global reach. If applied correctly, bitcoin could play a big part in helping developing nations.
It’s got serious celebrity backing
There are lots of celebrities who are excited about the potential of bitcoin, many of whom have some serious financial clout. From Bill Gates to Lionel Messi, plenty of famous people with a huge amount of money are looking for somewhere secure and safe to put it.
Now, just because celebrities throw their weight behind something, that obviously doesn’t mean it’s a foolproof force. Still, the fact that the founder of Microsoft and one of the richest men in the world is backing bitcoin should tell you something about its economic viability. We’re telling you – bitcoin is absolutely the future.
It brings us closer to the sci-fi future
Admit it – you’ve often fantasized about simply swiping a card and money being deducted from your completely cashless digital account. Bitcoin represents, if not the culmination of that dream, then a definite step towards it. It’s not hard to envision the kind of leaps and bounds that could be made in the cryptocurrency world in the future.
Of course, bitcoin is not the only cryptocurrency available on the market right now. It’s probably the most famous, but there are lots of other alternatives for doing exciting and interesting things with digital finance. As Bitcoin grows in popularity and prestige, it’s only going to get more secure and better at what it does.