Bitcoin is gradually changing the concept of how we spend money and might just be the best currency for the digital age today. It has changed how we bank, make transactions, and view money over the years since its inception in 2009. However, certain things contribute to what bitcoin has become over the years in the financial industry.
It is Decentralized
Bitcoin has survived over the years without the need for a central governing body or any third-party institution such as a bank. The advantages of a decentralized currency are numerous, some of which include not being bound by national monetary policies, free from risks of bank failures and collapses, lower transaction fees, immunity to inflation and deflation, and not being subject to geographically-based exchange rates.
In an episode of the Bitcoin Suisse in 2019 the benefits of the decentralization of bitcoin are further explored, including China’s impact on the cryptocurrency. This decentralization is one of the major reasons why Bitcoin continues to attract more users every day, as we live in a digital age and more people are looking for easier means of payment and money transfer.
Traditional banks can’t offer most of these benefits and considering how bitcoin has maintained a reputable track record over the years, there is more reason to trust its growth and what it has to offer in the future.
Anonymity
The components of your BTC such as your address, public and private keys, and transactions are masked from the public. This makes it easier for anyone to pay for anything with bitcoin, knowing that their identities are sealed. No transaction can be traced back to you, which is why more people choose bitcoin as a preferred form of payment in black markets.
If you want to make transactions while keeping your identity, bitcoin is your best bet. Unless you voluntarily publish your transactions or someone else has access to your account, your purchases will never be linked to you.
Easy-to-use Apps and Resources
Bitcoin is quite easy to learn and a beginner can grasp the basics within a short time frame and start trading. This is due to the numerous apps and resources available today. Platforms such as the Bitcoin Pro have made it easier than ever to trade bitcoin; with them, you can complete a transaction with a few clicks on your device. Some of these platforms also provide recent news and trends in the bitcoin industry to keep you up to date and also help you make informed decisions.
It generally takes an ample amount of time to learn about investments, whether it is traditional investments or stocks. However, with bitcoin, it is much easier. You can learn the basics for free and in a lesser time and gradually work your way up the ladder as your knowledge increases.
Conclusion
As more people choose to take their finances more seriously and seek easier means of transactions and investments, bitcoin will continue to gain more users. With the many benefits it has to offer and its track record over the years, there’s more to expect from this cryptocurrency in the coming years.
