If you’ve ever studied about Bitcoin or cryptocurrencies in general, a few uncertainties probably appear repeatedly: Why are so many Livingston County people using Bitcoin? What does it mean to be banking the unbanked or underbanked? And, why is Bitcoin increasing in value so much?
These questions are no surprise. The everyday person is knowledgeable of next to nothing about electronic cash, currency that exists in the virtual realm. Bitcoin grows in value because its supply will never be larger than 21 million Bitcoin (it’s in the protocol). As demand grows, adoption rises, investors continue to invest in and hold Bitcoin and - because worldwide supply is contained - it only makes sense that the value continues to grow, and rise, and rise.
Of the thousands of cryptocurrencies, Bitcoin (also known as the “King of Cryptocurrencies”) is the most prevalent and widely kept in portfolios. Demand has increased to a level that more than 4,000 local Bitcoin ATMs are maintained in the U.S. If you’re in Livingston County, it is easy to find a close cheap, 24-hour customer-service Bitcoin ATM.
These local Bitcoin ATM machines allow those around the world who don’t have bank accounts (“unbanked”), and people who have minimal access to bank accounts (“underbanked”) to be a part of the Bitcoin ecosystem. When you transform currency to Bitcoin, you enter a financial realm where you are in absolute control. Bitcoin is not constrained by any government laws, nor policies of Livingston County third-party financial institutions. It’s a decentralized, worldwide currency used for transactions directly between two parties, with neither knowing whom the other is. It gets rid of intermediaries such as banks and other financial gatekeepers.
The quantity of businesses and organizations using Bitcoin grows continuously. Household names 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 lineup as well.
Anyone can obtain and use Bitcoin. Given that 25 percent of Livingston County and U.S. households are unbanked or underbanked, its allure to those who don’t use banks – whether by choice or other reason – is understandable. Bitcoin security is unmatched, guarded by a globe-spanning network of complex computers help the unbanked and underbanked. They can purchase Bitcoin using cash, with no need for a bank account. The unbanked and underbanked can shop with Bitcoin, send it around the world to family and friends, or just hold Bitcoin for investment purposes. All can be accomplished with no connection to traditional banks.
Transactions using Bitcoin are instantaneous. There’s no paperwork. The virtual cash is kept in an online “crypto wallet,” impenetrable to all but those who know its private “key.”
In short, Bitcoin is for those who want a safe, undisclosed alternative to traditional currency. Bitcoin is also for those who want to safeguard (“hodl” in the crypto world) it for a long-term investment. Visit a cheap local Bitcoin ATM near Livingston County.
You can feel secure doing so too! Livingston 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 worldwide. It is also one of the select 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 assisting the unbanked and underbanked.
You’ll likely have more 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.