If you’ve ever pondered about Bitcoin or cryptocurrencies in general, a few queries probably come to mind over and over: Why are so many Vermilion County people using Bitcoin? What does it mean to be banking the unbanked or underbanked? And, why is Bitcoin increasing in value so much?
These questions are legitimate. The average person is knowledgeable of next to nothing about electronic cash, money that exists in the virtual world. Bitcoin grows in value because its supply will never be beyond 21 million Bitcoin (it’s in the protocol). As demand grows, adoption rises, investors continue to invest in and hold Bitcoin and - because worldwide supply is restricted - it further makes sense that the value continues to grow, and rise, and rise.
Of the thousands of cryptocurrencies, Bitcoin (also known as the “King of Cryptocurrencies”) is the most widespread and broadly held. Demand has multiplied to a level that more than 4,000 local Bitcoin ATMs are maintained in the U.S. If you’re in Vermilion County, it is easy to find a close cheapest-fee, 24-hour customer-service Bitcoin ATM.
These local Bitcoin ATM machines allow consumers around the world who don’t have bank accounts (“unbanked”), and consumers who have minimal access to bank accounts (“underbanked”) to be a part of the Bitcoin arena. When you convert money to Bitcoin, you enter a financial world where you are in unquestioned control. Bitcoin is not controlled by any government regulations, nor policies of Vermilion County third-party financial institutions. It’s a decentralized, global currency used for transactions directly between two parties, with neither knowing whom the other is. It removes middlemen such as banks and other financial gatekeepers.
The volume of businesses and organizations welcoming Bitcoin grows unchecked. Household names such as Microsoft, Best Buy and Dish Network are on the roll. Amazon, Barnes & Noble, Home Depot, AT&T, Expedia, Subway, PayPal, Overstock and Shopify are on the listing as well.
Anyone can obtain and use Bitcoin. Given that 25 percent of Vermilion County and U.S. households are unbanked or underbanked, its appeal to those who don’t use banks – whether by choice or other reason – is natural. Bitcoin security is unparalleled, protected by a worldwide network of complex computers utilizing the unbanked and underbanked. They can access Bitcoin using cash, with no necessity for a bank account. The unbanked and underbanked can shop with Bitcoin, send it globally to family and friends, or just hold Bitcoin for investment purposes. All can be accomplished with no connection to conventional banks.
Transactions using Bitcoin are instantaneous. There’s no paperwork. The virtual cash is kept in an online “crypto wallet,” inaccessible to all but those who know its private “key.”
In short, Bitcoin is for those who want a safe, confidential option to conventional money. Bitcoin is also for those who want to hold (“hodl” in the crypto world) it for a long-term investment. Visit a cheap local Bitcoin ATM near Vermilion County.
You can feel safe doing so too! Vermilion County COINSOURCE Bitcoin ATMs have one of the highest levels of compliance and security in the market, backed by more than 30 money transmitter licenses. COINSOURCE is one of the most trusted Bitcoin ATM companies globally. It is also one of the only Bitcoin ATM operators to have a New York Bit-License. With a 24-hour support system and Bitcoin ATMs in over 35 states (and more opening every day), COINSOURCE is a leader in serving the unbanked and underbanked.
You’ll likely have additional questions … and that’s natural. But the answer to the recurring one, “Why is the price of Bitcoin rising? And, “Why are the unbanked and underbanked using Bitcoin?” – will both likely be answered in short order.