If you’ve ever dabbled in Bitcoin or cryptocurrency in general (or considered doing so), one query likely occurs repeatedly: Why use Bitcoin?
The question is legitimate. The typical Boody individual grasps next to nothing about electronic cash, currency that exists in the virtual world. Even when printed on paper, it’s just a QR code. Why switch hard-earned dollars into something seemingly so abstract?
Multiple reasons exist – among them, privacy, immediate transactions, investment potential and total financial control. Curious?
Of thousands of cryptocurrencies, Bitcoin (occasionally called “digital Gold”) is the most widespread and frequently owned. Demand has spiked so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Boody , just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.
When you convert money to Bitcoin, you enter a financial arena where you are in complete control. Bitcoin is not tethered by any government regulations, nor regulations of third-party Boody financial institutions. It’s a decentralized, worldwide currency used for dealings directly between two parties, with neither knowing whom the other is.
Bitcoin is immensely 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 change cash into remittances within minutes.
At one time in 2017, the price of Bitcoin surpassed the value of one troy ounce of Gold. Both are viewed as “safe haven” holdings for Boody investors. The “Bitcoin vs. Gold” discussion has raged for years, with some observers falling squarely on the Bitcoin side.
Why? Bitcoin can be utilized as currency, unlike Gold. Bitcoin has a fixed amount, while the worldwide availability of Gold increases around 1.5 percent each year. In the five years before 2020, Gold’s value increased around 67 percent; Bitcoin, though, rose as much as 4,500 percent.
The volume of Boody businesses and organizations accepting Bitcoin increases continuously. Everyday brands 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 Boody, are unbanked or underbanked, its appeal to those who don’t use banks – whether by choice or other reason – is natural. Bitcoin security is unmatched, shielded by a globe-spanning network of complex computers employing blockchain technology.
Transactions using Bitcoin are instantaneously completed. There’s no obstacles. The virtual currency is stored in an online “crypto wallet,” impenetrable to all but those who know its private “key.”
In short, Bitcoin is for those who desire a safe, private alternative to standard money. If you’re interested in examining Bitcoin, perhaps start out with a small amount. Stop by a cheap local Bitcoin ATM near Boody and use some cash. Get a feel for how a virtual wallet works, and how Bitcoin is used to acquire products and services.
You can feel protected 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 in the world and in Boody .
You maybe have more questions about Bitcoin … and that’s normal. But the answer to the recurring one – “Why use Bitcoin?” – will likely be answered in short order.