If you’ve ever dabbled in Bitcoin or cryptocurrency in general (or thought of doing so), one query likely occurs over and over: Why use Bitcoin?
The question is valid. The average Forsyth individual 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 change hard-earned dollars into something seemingly so abstract?
Multiple rationales exist – among them, privacy, immediate transactions, investment potential and total financial control. Curious?
Of thousands of cryptocurrencies, Bitcoin (regularly called “digital Gold”) is the most common and regularly held. Demand has increased so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Forsyth , 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 world where you are in total control. Bitcoin is not restricted by any government regulations, nor strictures of third-party Forsyth financial institutions. It’s a decentralized, international currency used for transactions directly between two parties, 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 around the world. A local Bitcoin ATM can turn cash into remittances within minutes.
At one time in 2017, the value of Bitcoin exceeded the price of one troy ounce of Gold. Both are perceived as “safe haven” holdings for Forsyth investors. The “Bitcoin vs. Gold” discussion has occurred for years, with some observers falling squarely on the Bitcoin side.
Why? Bitcoin can be utilized as currency, unlike Gold. Bitcoin has a predetermined supply, while the worldwide supply of Gold grows around 1.5 percent each year. In the five years before 2020, Gold’s value rose around 67 percent; Bitcoin, however, increased as much as 4,500 percent.
The quantity of Forsyth businesses and organizations accepting Bitcoin increases steadily. Household names such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are included.
Anyone can obtain and use Bitcoin. Given that 25 percent of U.S. households, including those in Forsyth, are unbanked or underbanked, its allure to those who don’t use banks – whether by preference or other justification – is undeniable. Bitcoin security is unmatched, safeguarded by a worldwide network of complex computers using blockchain technology.
Dealings using Bitcoin are instantly completed. There’s no obstacles. The virtual cash 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 option to traditional money. If you’re interested in exploring Bitcoin, maybe get started with a small sum. Patronize a cheap local Bitcoin ATM near Forsyth and deposit some cash. Understand how a virtual wallet functions, 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, backed by more than 30 money transmitter licenses. Coinsource is one of the most trusted Bitcoin ATM companies worldwide and in Forsyth .
You perhaps have more questions about Bitcoin … and that’s natural. But the answer to the incessant one – “Why use Bitcoin?” – will likely be answered in short order.