If you’ve ever dabbled in Bitcoin or cryptocurrency in general (or thought of doing so), one question probably occurs over and over: Why use Bitcoin?
The question is not unreasonable. The common Larkdale individual understands next to nothing about electronic cash, money that exists in the virtual world. Even when held on paper, it’s just a QR code. Why change hard-earned dollars into something seemingly so abstract?
Multiple rationales exist – among them, privacy, instant transactions, investment possibility and total financial control. Intrigued?
Of thousands of cryptocurrencies, Bitcoin (occasionally labeled “digital Gold”) is the most widespread and widely held. Demand has grown so much that more than 4,000 local Bitcoin ATMs function in the U.S. If you’re in Larkdale , 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 utter control. Bitcoin is not bound by any government policies, nor regulations of third-party Larkdale financial institutions. It’s a decentralized, global currency used for transactions directly between two sides, with neither knowing whom the other is.
Bitcoin is hugely 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 instance in 2017, the price of Bitcoin topped the value of one troy ounce of Gold. Both are deemed as “safe haven” assets for Larkdale investors. The “Bitcoin vs. Gold” dispute has existed for years, with some watchers falling squarely on the Bitcoin side.
Why? Bitcoin can be used as currency, unlike Gold. Bitcoin has a finite supply, while the worldwide stockpile of Gold grows roughly 1.5 percent each year. In the five years preceding 2020, Gold’s value rose around 67 percent; Bitcoin, though, expanded as much as 4,500 percent.
The total of Larkdale businesses and organizations taking Bitcoin expands steadily. Everyday names 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 Larkdale, are unbanked or underbanked, its attractiveness to those who don’t use banks – whether by choice or other justification – is obvious. Bitcoin security is unsurpassed, protected by a globe-spanning network of complex computers utilizing blockchain technology.
Transactions using Bitcoin are instantly completed. There’s no hurdles. The virtual currency is held 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 standard currency. If you’re interested in exploring Bitcoin, maybe begin with a small value. Visit a cheap local Bitcoin ATM near Larkdale and invest 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 degrees of compliance in the industry, secured by more than 30 money transmitter licenses. Coinsource is one of the most validated Bitcoin ATM companies in the world and in Larkdale .
You probably have more questions about Bitcoin … and that’s normal. But the answer to the incessant one – “Why use Bitcoin?” – will likely be answered very quickly.