If you’ve ever dabbled in Bitcoin or cryptocurrency in general (or pondered doing so), one query probably occurs repeatedly: Why use Bitcoin?
The question is not unreasonable. The average Fountain County individual grasps next to nothing about electronic cash, money that exists in the virtual space. Even when printed on paper, it’s only a QR code. Why switch hard-earned dollars into something seemingly so abstract?
Many justifications exist – among them, privacy, immediate transactions, investment possibility and total financial control. Interested?
Of thousands of cryptocurrencies, Bitcoin (regularly called “digital Gold”) is the most popular and frequently held. Demand has increased so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Fountain County , 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 arena where you are in full control. Bitcoin is not bound by any government regulations, nor policies of third-party Fountain County financial institutions. It’s a decentralized, global currency used for dealings directly between two parties, with neither knowing whom the other is.
Bitcoin is incredibly valuable as a remittance tool. It’s faster and far cheaper than Western Union or MoneyGram for those sending money abroad. A local Bitcoin ATM can change cash into remittances within minutes.
At one time in 2017, the price of Bitcoin topped the price of one troy ounce of Gold. Both are perceived as “safe haven” holdings for Fountain County 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 amount, while the worldwide stockpile of Gold grows roughly 1.5 percent annually. In the five years preceding 2020, Gold’s value grew around 67 percent; Bitcoin, however, improved as much as 4,500 percent.
The number of Fountain County businesses and organizations using Bitcoin grows steadily. Well-recognized names such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are included.
Anyone can buy and use Bitcoin. Given that 25 percent of U.S. households, including those in Fountain County, are unbanked or underbanked, its allure to those who don’t use banks – whether by preference or other reason – is natural. Bitcoin security is unrivaled, protected by a worldwide network of complex computers employing blockchain technology.
Deals using Bitcoin are instantaneously completed. There’s no obstacles. The virtual cash is stored 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 money. If you’re interested in checking out Bitcoin, maybe get started with a small sum. Stop by a cheap local Bitcoin ATM near Fountain County and invest some cash. Understand how a virtual wallet functions, and how Bitcoin is used to acquire products and services.
You can feel safe 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 entrusted Bitcoin ATM companies in the world and in Fountain County .
You probably have more questions about Bitcoin … and that’s logical. But the answer to the recurring one – “Why use Bitcoin?” – will likely be answered very quickly.