If you’ve ever invested in Bitcoin or cryptocurrency in general (or considered doing so), one thought likely occurs over and over: Why use Bitcoin?
The question is valid. The everyday Tolono person knows next to nothing about electronic cash, currency that exists in the virtual environment. Even when held on paper, it’s only a QR code. Why transform hard-earned dollars into something seemingly so abstract?
Many motives exist – among them, privacy, instantaneous transactions, investment potential and total financial control. Curious?
Of thousands of cryptocurrencies, Bitcoin (regularly called “digital Gold”) is the most popular and widely held. Demand has spiked so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Tolono , 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 arena where you are in total control. Bitcoin is not restricted by any government rules, nor policies of third-party Tolono 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 costly than Western Union or MoneyGram for those sending money abroad. 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” assets for Tolono investors. The “Bitcoin vs. Gold” discussion has raged for years, with some observers falling squarely on the Bitcoin side.
Why? Bitcoin can be applied as currency, unlike Gold. Bitcoin has a fixed amount, while the worldwide supply of Gold expands roughly 1.5 percent each year. In the five years before 2020, Gold’s value improved around 67 percent; Bitcoin, however, grew as much as 4,500 percent.
The number of Tolono businesses and organizations taking Bitcoin grows progressively. Popular 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 Tolono, are unbanked or underbanked, its appeal to those who don’t use banks – whether by preference or other justification – is natural. Bitcoin security is unequaled, safeguarded by a worldwide network of complex computers operating with blockchain technology.
Deals using Bitcoin are instantaneously completed. There’s no hurdles. The virtual money is maintained 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 option to commonplace money. If you’re interested in trying Bitcoin, perhaps begin with a small value. Patronize a cheap local Bitcoin ATM near Tolono and deposit some cash. Get a feel for how a virtual wallet works, and how Bitcoin is used to buy 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 trusted Bitcoin ATM companies globally and in Tolono .
You could have more questions about Bitcoin … and that’s understandable. But the answer to the incessant one – “Why use Bitcoin?” – will likely be answered very quickly.