If you’ve ever dabbled in Bitcoin or cryptocurrency in general (or considered doing so), one thought probably occurs repeatedly: Why use Bitcoin?
The question is valid. The typical Fisher person knows next to nothing about electronic cash, money that exists in the virtual space. Even when held on paper, it’s just a QR code. Why transform hard-earned dollars into something seemingly so abstract?
A multitude of motivations exist – among them, privacy, instant transactions, investment possibility and total financial control. Intrigued?
Of thousands of cryptocurrencies, Bitcoin (occasionally called “digital Gold”) is the most prevalent and frequently held. Demand has spiked so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Fisher , just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.
When you transform money to Bitcoin, you enter a financial world where you are in complete control. Bitcoin is not tethered by any government policies, nor rules of third-party Fisher financial institutions. It’s a decentralized, global currency used for dealings directly between two parties, with neither knowing whom the other is.
Bitcoin is immensely valuable as a remittance tool. It’s faster and far less costly than Western Union or MoneyGram for those sending money around the world. A local Bitcoin ATM can turn cash into remittances within minutes.
At one point in 2017, the price of Bitcoin surpassed the value of one troy ounce of Gold. Both are perceived as “safe haven” assets for Fisher investors. The “Bitcoin vs. Gold” argument has carried on for years, with some observers falling squarely on the Bitcoin side.
Why? Bitcoin can be applied as currency, unlike Gold. Bitcoin has a finite amount, while the worldwide availability of Gold increases roughly 1.5 percent annually. In the five years before 2020, Gold’s value grew around 67 percent; Bitcoin, though, rose as much as 4,500 percent.
The volume of Fisher businesses and organizations taking Bitcoin grows continuously. Everyday brands such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are included.
Anyone can obtain and use Bitcoin. Given that 25 percent of U.S. households, including those in Fisher, are unbanked or underbanked, its appeal to those who don’t use banks – whether by choice or other justification – is obvious. Bitcoin security is unequaled, guarded by a globe-spanning network of complex computers employing blockchain technology.
Dealings using Bitcoin are instantly completed. There’s no hindrances. The virtual currency is maintained in an online “crypto wallet,” inaccessible to all but those who know 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, perhaps begin with a small sum. Patronize a cheap local Bitcoin ATM near Fisher and deposit some cash. Understand how a virtual wallet functions, and how Bitcoin is used to purchase products and services.
You can feel safe doing so, too. Coinsource Bitcoin ATMs have one of the highest degrees of compliance in the industry, secured by more than 30 money transmitter licenses. Coinsource is one of the most validated Bitcoin ATM companies worldwide and in Fisher .
You might have more questions about Bitcoin … and that’s normal. But the answer to the incessant one – “Why use Bitcoin?” – will likely be answered in short order.