If you’ve ever thought about Bitcoin or cryptocurrencies in general, a few queries probably come to mind repeatedly: Why are so many Fountain 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 everyday person knows next to nothing about electronic cash, money that exists in the virtual realm. Bitcoin increases in value because its supply will never be more than 21 million Bitcoin (it’s in the protocol). As demand multiplies, adoption rises, investors continue to invest in and hold Bitcoin and - because available supply is constrained - it just makes sense that its value continues to grow, and grow, and rise.
Of the thousands of cryptocurrencies, Bitcoin (also known as the “King of Cryptocurrencies”) is the most common and broadly purchased. Demand has expanded so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Fountain County, it is easy to find a close cheap, 24-hour customer-service Bitcoin ATM.
These local Bitcoin ATM machines allow consumers around the world who don’t have bank accounts (“unbanked”), and people who have little access to bank accounts (“underbanked”) to be a part of the Bitcoin arena. When you transform money to Bitcoin, you enter a financial world where you are in complete control. Bitcoin is not controlled by any government decrees, nor rules of Fountain 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 casts off intermediaries such as banks and other financial gatekeepers.
The number of businesses and organizations accepting Bitcoin grows continuously. Household brands such as Microsoft, Best Buy and Dish Network are on the roster. Amazon, Barnes & Noble, Home Depot, AT&T, Expedia, Subway, PayPal, Overstock and Shopify are on the list as well.
Anyone can purchase and use Bitcoin. Given that 25 percent of Fountain County and U.S. households are unbanked or underbanked, its attraction to those who don’t use banks – whether by choice or other reason – is reasonable. Bitcoin security is unmatched, protected by a global network of complex computers utilizing the unbanked and underbanked. They can purchase Bitcoin using cash, with no need 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 link to traditional banks.
Transactions using Bitcoin are completed instantly. There’s no paperwork. The virtual currency 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, undisclosed option to conventional currency. 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 Fountain County.
You can feel safe doing so too! Fountain 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 trustworthy Bitcoin ATM companies worldwide. It is also one of the select 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 assisting the unbanked and underbanked.
You’ll likely have further 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.