If you’ve ever wondered about Bitcoin or cryptocurrencies in general, a few queries probably pop up over and over: Why are so many Coles County people using Bitcoin? What does it mean to be banking the unbanked or underbanked? And, why is Bitcoin growing in value so much?
These questions are legitimate. The everyday person is knowledgeable of next to nothing about electronic cash, money that exists in the virtual realm. Bitcoin grows in value because its supply will never be greater than 21 million Bitcoin (it’s in the protocol). As demand increases, adoption rises, investors continue to invest in and hold Bitcoin and - because available supply is limited - it only makes sense that the value continues to rise, and grow, and grow.
Of the thousands of cryptocurrencies, Bitcoin (also known as the “King of Cryptocurrencies”) is the most popular and widely held. Demand has grown so much that more than 4,000 local Bitcoin ATMs are available in the U.S. If you’re in Coles County, it is easy to find a close cheap, 24-hour customer-service Bitcoin ATM.
These local Bitcoin ATM machines allow people globally who don’t have bank accounts (“unbanked”), and those who have reduced access to bank accounts (“underbanked”) to join in the Bitcoin ecosystem. When you convert money to Bitcoin, you enter a financial reality where you are in total control. Bitcoin is not bound by any government regulations, nor rules of Coles County third-party financial institutions. It’s a decentralized, global currency used for transactions directly between two parties, with neither knowing whom the other is. It gets rid of middle parties such as banks and other financial gatekeepers.
The amount of businesses and organizations welcoming Bitcoin grows steadily. Household labels such as Microsoft, Best Buy and Dish Network are on the roster. Amazon, Barnes & Noble, Home Depot, AT&T, Expedia, Subway, PayPal, Overstock and Shopify are on the listing as well.
Anyone can purchase and use Bitcoin. Given that 25 percent of Coles County and U.S. households are unbanked or underbanked, its draw to those who don’t use banks – whether by choice or other reason – is no mystery. Bitcoin security is like no other, protected by a globe-spanning network of complex computers aid the unbanked and underbanked. They can purchase Bitcoin using cash, with no necessity for a bank account. The unbanked and underbanked can shop with Bitcoin, send it across the globe to family and friends, or just hold Bitcoin for investment purposes. All can be achieved with no connection to traditional banks.
Transactions using Bitcoin are completed instantly. There’s no paperwork. The virtual currency is kept 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 option to traditional money. Bitcoin is also for those who want to keep (“hodl” in the crypto world) it for a long-term investment. Visit a cheap local Bitcoin ATM near Coles County.
You can feel secure doing so too! Coles County COINSOURCE Bitcoin ATMs have one of the highest levels of compliance and security in the industry, backed by more than 30 money transmitter licenses. COINSOURCE is one of the most trustworthy Bitcoin ATM companies across the globe. It is also one of the few Bitcoin ATM operators to have a New York Bit-License. With a 24-hour support system and Bitcoin ATMs in over 35 states (and more opening every day), COINSOURCE is a leader in helping the unbanked and underbanked.
You’ll probably have additional questions … and that’s understandable. But the answer to the recurring one, “Why is the price of Bitcoin rising? And, “Why are the unbanked and underbanked using Bitcoin?” – will both likely be answered in short order.