If you’ve ever invested in Bitcoin or cryptocurrency in general (or contemplated doing so), one query probably occurs simultaneously: Why use Bitcoin?
The question is legitimate. The typical Niantic individual grasps next to nothing about electronic cash, currency that exists in the virtual environment. Even when held on paper, it’s only a QR code. Why transform hard-earned dollars into something seemingly so abstract?
Multiple justifications exist – among them, privacy, instantaneous transactions, investment possibility and total financial control. Intrigued?
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 Niantic , 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 playing field where you are in full control. Bitcoin is not held back by any government regulations, nor regulations of third-party Niantic financial institutions. It’s a decentralized, worldwide currency used for transactions directly between two sides, with neither knowing whom the other is.
Bitcoin is tremendously valuable as a remittance tool. It’s faster and far less costly than Western Union or MoneyGram for those sending money globally. 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 deemed as “safe haven” assets for Niantic investors. The “Bitcoin vs. Gold” debate 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 predetermined supply, while the worldwide availability of Gold expands roughly 1.5 percent each year. In the five years prior to 2020, Gold’s value increased around 67 percent; Bitcoin, however, rose as much as 4,500 percent.
The volume of Niantic businesses and organizations taking Bitcoin grows continuously. Household names such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are included.
Anyone can purchase and use Bitcoin. Given that 25 percent of U.S. households, including those in Niantic, are unbanked or underbanked, its allure to those who don’t use banks – whether by preference or other reason – is unmistakable. Bitcoin security is unsurpassed, guarded by a worldwide network of complex computers employing blockchain technology.
Dealings using Bitcoin are instantly completed. There’s no paperwork. The virtual cash is held in an online “crypto wallet,” impenetrable to all but those who hold its private “key.”
In short, Bitcoin is for those who desire a safe, private option to conventional money. If you’re interested in examining Bitcoin, maybe begin with a small amount. Stop by a cheap local Bitcoin ATM near Niantic and invest some cash. Understand how a virtual wallet operates, 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 validated Bitcoin ATM companies globally and in Niantic .
You might have more questions about Bitcoin … and that’s understandable. But the answer to the recurring one – “Why use Bitcoin?” – will likely be answered in short order.