If you’ve ever invested in Bitcoin or cryptocurrency in general (or wondered about doing so), one query likely occurs over and over: Why use Bitcoin?
The question is not unreasonable. The typical Bondville person knows next to nothing about electronic cash, money that exists in the virtual arena. Even when printed on paper, it’s just a QR code. Why switch hard-earned dollars into something seemingly so abstract?
A multitude of reasons exist – among them, privacy, immediate transactions, investment potential and total financial control. Interested?
Of thousands of cryptocurrencies, Bitcoin (occasionally termed “digital Gold”) is the most prevalent and commonly owned. Demand has swelled so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Bondville , just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.
When you switch money to Bitcoin, you enter a financial arena where you are in full control. Bitcoin is not tethered by any government regulations, nor strictures of third-party Bondville financial institutions. It’s a decentralized, international currency used for transactions directly between two parties, with neither knowing whom the other is.
Bitcoin is extremely valuable as a remittance tool. It’s faster and far less expensive than Western Union or MoneyGram for those sending money globally. A local Bitcoin ATM can change cash into remittances within minutes.
At one instance in 2017, the price of Bitcoin surpassed the price of one troy ounce of Gold. Both are viewed as “safe haven” assets for Bondville investors. The “Bitcoin vs. Gold” debate has carried on for years, with some watchers falling squarely on the Bitcoin side.
Why? Bitcoin can be applied as currency, unlike Gold. Bitcoin has a fixed amount, while the worldwide availability of Gold grows roughly 1.5 percent annually. In the five years prior to 2020, Gold’s value grew around 67 percent; Bitcoin, on the other hand, expanded as much as 4,500 percent.
The total of Bondville businesses and organizations accepting Bitcoin expands progressively. Popular names such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are on the list.
Anyone can obtain and use Bitcoin. Given that 25 percent of U.S. households, including those in Bondville, are unbanked or underbanked, its allure to those who don’t use banks – whether by preference or other justification – is reasonable. Bitcoin security is unparalleled, guarded by a globe-spanning network of complex computers employing blockchain technology.
Dealings using Bitcoin are immediately completed. There’s no red tape. The virtual cash is stored in an online “crypto wallet,” inaccessible to all but those who hold its private “key.”
In short, Bitcoin is for those who want a safe, private alternative to conventional money. If you’re interested in trying Bitcoin, maybe start with a small sum. Patronize a cheap local Bitcoin ATM near Bondville and use some cash. Get a feel for how a virtual wallet works, and how Bitcoin is used to buy products and services.
You can feel protected doing so, too. Coinsource Bitcoin ATMs have one of the highest levels of compliance in the industry, backed by more than 30 money transmitter licenses. Coinsource is one of the most trusted Bitcoin ATM companies globally and in Bondville .
You probably have more questions about Bitcoin … and that’s normal. But the answer to the recurring one – “Why use Bitcoin?” – will likely be answered in short order.