If you’ve ever invested in Bitcoin or cryptocurrency in general (or considered doing so), one question likely occurs simultaneously: Why use Bitcoin?
The question is understandable. The average Harristown person knows next to nothing about electronic cash, currency that exists in the virtual arena. Even when held on paper, it’s just a QR code. Why transform hard-earned dollars into something seemingly so abstract?
A multitude of motivations exist – among them, privacy, instantaneous transactions, investment potential and total financial control. Interested?
Of thousands of cryptocurrencies, Bitcoin (sometimes called “digital Gold”) is the most prevalent and widely held. Demand has grown so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Harristown , just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.
When you change money to Bitcoin, you enter a financial world where you are in complete control. Bitcoin is not held back by any government rules, nor policies of third-party Harristown 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 cheaper 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 point in 2017, the value of Bitcoin exceeded the value of one troy ounce of Gold. Both are judged as “safe haven” holdings for Harristown investors. The “Bitcoin vs. Gold” debate has raged for years, with some watchers falling squarely on the Bitcoin side.
Why? Bitcoin can be utilized as currency, unlike Gold. Bitcoin has a predetermined quantity, while the worldwide supply of Gold expands roughly 1.5 percent annually. In the five years before 2020, Gold’s value rose around 67 percent; Bitcoin, though, increased as much as 4,500 percent.
The total of Harristown businesses and organizations using Bitcoin expands steadily. Popular names such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are on the list.
Anyone can obtain and use Bitcoin. Given that 25 percent of U.S. households, including those in Harristown, are unbanked or underbanked, its appeal to those who don’t use banks – whether by preference or other justification – is obvious. Bitcoin security is unsurpassed, safeguarded by a globe-spanning network of complex computers operating with blockchain technology.
Deals using Bitcoin are immediately completed. There’s no red tape. The virtual currency is safeguarded in an online “crypto wallet,” inaccessible to all but those who hold 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 begin with a small amount. Visit a cheap local Bitcoin ATM near Harristown and deposit some cash. Get a feel for how a virtual wallet functions, and how Bitcoin is used to purchase products and services.
You can feel protected doing so, too. Coinsource Bitcoin ATMs have one of the highest levels of compliance in the industry, backed by more than 30 money transmitter licenses. Coinsource is one of the most validated Bitcoin ATM companies worldwide and in Harristown .
You likely have more questions about Bitcoin … and that’s to be expected. But the answer to the recurring one – “Why use Bitcoin?” – will likely be answered in short order.