If you’ve ever invested in Bitcoin or cryptocurrency in general (or pondered doing so), one query likely occurs simultaneously: Why use Bitcoin?
The question is legitimate. The typical Thomasboro person knows next to nothing about electronic cash, currency that exists in the virtual environment. Even when seen on paper, it’s only a QR code. Why transform hard-earned dollars into something seemingly so abstract?
A multitude of reasons exist – among them, privacy, instantaneous transactions, investment potential and total financial control. Curious?
Of thousands of cryptocurrencies, Bitcoin (regularly labeled “digital Gold”) is the most prevalent and widely held. Demand has increased so much that more than 4,000 local Bitcoin ATMs exist in the U.S. If you’re in Thomasboro , 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 space where you are in full control. Bitcoin is not held back by any government laws, nor policies of third-party Thomasboro financial institutions. It’s a decentralized, global currency used for dealings directly between two sides, with neither knowing whom the other is.
Bitcoin is tremendously 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 value of Bitcoin exceeded the price of one troy ounce of Gold. Both are perceived as “safe haven” holdings for Thomasboro investors. The “Bitcoin vs. Gold” argument 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 fixed amount, while the worldwide availability of Gold grows approximately 1.5 percent every year. In the five years preceding 2020, Gold’s value rose around 67 percent; Bitcoin, however, grew as much as 4,500 percent.
The amount of Thomasboro businesses and organizations accepting Bitcoin increases progressively. Well-recognized brands such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are on the list.
Anyone can buy and use Bitcoin. Given that 25 percent of U.S. households, including those in Thomasboro, are unbanked or underbanked, its appeal to those who don’t use banks – whether by preference or other justification – is understandable. Bitcoin security is unparalleled, guarded by a globe-spanning network of complex computers operating with blockchain technology.
Deals using Bitcoin are instantly completed. There’s no hurdles. The virtual currency is stored in an online “crypto wallet,” impenetrable to all but those who hold its private “key.”
In short, Bitcoin is for those who desire a safe, private option to commonplace money. If you’re interested in checking out Bitcoin, maybe start with a small value. Patronize a cheap local Bitcoin ATM near Thomasboro and deposit 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 levels of compliance in the industry, secured by more than 30 money transmitter licenses. Coinsource is one of the most trusted Bitcoin ATM companies globally and in Thomasboro .
You maybe 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 very quickly.