If you’ve ever invested in Bitcoin or cryptocurrency in general (or considered doing so), one thought likely occurs repeatedly: Why use Bitcoin?
The question is not unreasonable. The average Ivesdale person grasps next to nothing about electronic cash, currency that exists in the virtual space. Even when printed on paper, it’s just a QR code. Why transform hard-earned dollars into something seemingly so abstract?
A multitude of reasons exist – among them, privacy, instant transactions, investment potential and total financial control. Curious?
Of thousands of cryptocurrencies, Bitcoin (often termed “digital Gold”) is the most prevalent and frequently owned. Demand has accelerated so much that more than 4,000 local Bitcoin ATMs function in the U.S. If you’re in Ivesdale , 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 world where you are in utter control. Bitcoin is not held back by any government regulations, nor policies of third-party Ivesdale financial institutions. It’s a decentralized, worldwide currency used for transactions directly between two sides, 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 between countries. A local Bitcoin ATM can turn cash into remittances within minutes.
At one instance in 2017, the price of Bitcoin outstripped the value of one troy ounce of Gold. Both are perceived as “safe haven” holdings for Ivesdale investors. The “Bitcoin vs. Gold” discussion has existed for years, with some watchers falling squarely on the Bitcoin side.
Why? Bitcoin can be used as currency, unlike Gold. Bitcoin has a finite quantity, while the worldwide supply of Gold expands roughly 1.5 percent each year. In the five years prior to 2020, Gold’s value rose around 67 percent; Bitcoin, however, rose as much as 4,500 percent.
The volume of Ivesdale businesses and organizations accepting Bitcoin increases continuously. Well-recognized names such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are included.
Anyone can acquire and use Bitcoin. Given that 25 percent of U.S. households, including those in Ivesdale, are unbanked or underbanked, its attractiveness to those who don’t use banks – whether by choice or other reason – is undeniable. Bitcoin security is unmatched, protected by a global network of complex computers utilizing blockchain technology.
Dealings using Bitcoin are immediately completed. There’s no paperwork. The virtual money is stored in an online “crypto wallet,” inaccessible to all but those who know its private “key.”
In short, Bitcoin is for those who desire a safe, private alternative to commonplace currency. If you’re interested in checking out Bitcoin, perhaps start with a small value. Visit a cheap local Bitcoin ATM near Ivesdale and invest some cash. Get a feel for how a virtual wallet functions, 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 degrees of compliance in the industry, backed by more than 30 money transmitter licenses. Coinsource is one of the most validated Bitcoin ATM companies in the world and in Ivesdale .
You could have more questions about Bitcoin … and that’s to be expected. But the answer to the recurring one – “Why use Bitcoin?” – will likely be answered in short order.