If you’ve ever wondered about Bitcoin or cryptocurrencies in general, a few queries probably appear over and over: Why are so many Warren County people using Bitcoin? What does it mean to be banking the unbanked or underbanked? And, why is Bitcoin growing in value so much?
These questions are no surprise. The everyday person understands next to nothing about electronic cash, currency that exists in the virtual realm. Bitcoin grows in value because its supply can never be beyond 21 million Bitcoin (it’s in the protocol). As demand increases, adoption increases, investors continue to invest in and hold Bitcoin and - because available supply is limited - it just makes sense that the value continues to grow, and grow, and rise.
Of the thousands of cryptocurrencies, Bitcoin (also known as the “King of Cryptocurrencies”) is the most prevalent and broadly held. Demand has expanded so much that more than 4,000 local Bitcoin ATMs are available in the U.S. If you’re in Warren County, it is easy to find a close lowest-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 those who have little access to bank accounts (“underbanked”) to be a part of the Bitcoin ecosystem. When you change cash to Bitcoin, you enter a financial world where you are in complete control. Bitcoin is not governed by any government decrees, nor policies of Warren 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 number of businesses and organizations taking Bitcoin grows continuously. 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 list as well.
Anyone can obtain and use Bitcoin. Given that 25 percent of Warren 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 natural. Bitcoin security is unparalleled, guarded by a global network of complex computers help the unbanked and underbanked. They can access 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 achieved with no connection to conventional banks.
Transactions using Bitcoin are instantaneous. There’s no paperwork. The virtual currency is kept 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 alternative to conventional currency. Bitcoin is also for those who want to maintain (“hodl” in the crypto world) it for a long-term investment. Visit a cheap local Bitcoin ATM near Warren County.
You can feel secure doing so too! Warren 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 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 popping up every day), COINSOURCE is a leader in helping the unbanked and underbanked.
You’ll likely have further questions … and that’s reasonable. 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.
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