If you’ve ever invested in Bitcoin or cryptocurrency in general (or thought of doing so), one question likely occurs simultaneously: Why use Bitcoin?
The question is understandable. The typical Warrensburg person knows next to nothing about electronic cash, currency that exists in the virtual arena. Even when seen on paper, it’s only a QR code. Why transform hard-earned dollars into something seemingly so abstract?
Multiple rationales exist – among them, privacy, instant transactions, investment possibility and total financial control. Curious?
Of thousands of cryptocurrencies, Bitcoin (regularly labeled “digital Gold”) is the most prevalent and commonly owned. Demand has accelerated so much that more than 4,000 local Bitcoin ATMs exist in the U.S. If you’re in Warrensburg , 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 space where you are in total control. Bitcoin is not held back by any government laws, nor rules of third-party Warrensburg financial institutions. It’s a decentralized, international currency used for dealings directly between two sides, 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 between countries. A local Bitcoin ATM can change cash into remittances within minutes.
At one point in 2017, the price of Bitcoin outstripped the price of one troy ounce of Gold. Both are deemed as “safe haven” holdings for Warrensburg investors. The “Bitcoin vs. Gold” debate has occurred for years, with some watchers falling squarely on the Bitcoin side.
Why? Bitcoin can be utilized as currency, unlike Gold. Bitcoin has a finite quantity, while the worldwide stockpile of Gold expands approximately 1.5 percent every year. In the five years prior to 2020, Gold’s value increased around 67 percent; Bitcoin, though, increased as much as 4,500 percent.
The volume of Warrensburg businesses and organizations using Bitcoin grows progressively. Household names such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are on the roster.
Anyone can purchase and use Bitcoin. Given that 25 percent of U.S. households, including those in Warrensburg, are unbanked or underbanked, its appeal to those who don’t use banks – whether by choice or other rationale – is undeniable. Bitcoin security is unparalleled, guarded by a worldwide network of complex computers employing blockchain technology.
Dealings using Bitcoin are instantaneously completed. There’s no hindrances. The virtual money is held in an online “crypto wallet,” impenetrable to all but those who know its private “key.”
In short, Bitcoin is for those who want a safe, private option to traditional currency. If you’re interested in trying Bitcoin, perhaps start out with a small sum. Stop by a cheap local Bitcoin ATM near Warrensburg and use some cash. Get a feel for how a virtual wallet works, and how Bitcoin is used to purchase 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 entrusted Bitcoin ATM companies globally and in Warrensburg .
You likely have more questions about Bitcoin … and that’s natural. But the answer to the repeating one – “Why use Bitcoin?” – will likely be answered before you know it.