If you’ve ever studied about Bitcoin or cryptocurrencies in general, a few questions probably pop up over and over: Why are so many Bergen 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 reasonable. The everyday 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 greater than 21 million Bitcoin (it’s in the protocol). As demand multiplies, adoption increases, investors continue to invest in and hold Bitcoin and - because worldwide supply is contained - 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 popular and widely purchased. Demand has grown to a level that more than 4,000 local Bitcoin ATMs are available in the U.S. If you’re in Bergen County, it is easy to find a nearby fast, 24-hour customer-service Bitcoin ATM.
These local Bitcoin ATM machines allow people 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 ecosystem. When you convert money to Bitcoin, you enter a financial world where you are in complete control. Bitcoin is not bound by any government laws, nor policies of Bergen County third-party financial institutions. It’s a decentralized, worldwide 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 non-stop. Household labels 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 buy and use Bitcoin. Given that 25 percent of Bergen 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 no mystery. Bitcoin security is unmatched, protected by a globe-spanning network of complex computers utilizing the unbanked and underbanked. They can buy Bitcoin using cash, with no need for a bank account. The unbanked and underbanked can shop with Bitcoin, send it across the globe to family and friends, or just retain Bitcoin for investment purposes. All can be done with no connection to traditional banks.
Transactions using Bitcoin are instantaneous. 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 alternative to conventional money. 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 Bergen County.
You can feel secure doing so too! Bergen County COINSOURCE Bitcoin ATMs have one of the highest levels of compliance and security in the business, backed by more than 30 money transmitter licenses. COINSOURCE is one of the most trustworthy Bitcoin ATM companies globally. It is also one of the few 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 aiding 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.
|Carlton Hill||Cliffside Park||Closter|
|Englewood||Englewood Cliffs||Fair Lawn|
|Fairview||Fort Lee||Franklin Lakes|
|Harrington Park||Hasbrouck Heights||Haworth|
|New Bridge||New Milford||North Arlington|
|Palisades Park||Paramus||Park Ridge|
|Ridgefield Park||Ridgewood||Ridgewood Junction|
|River Edge||River Vale||Rochelle Park|
|Saddle River||Saint Josephs Village||Teaneck|
|Upper Saddle River||Waldwick||Wallington|
|Warren Point||West View||Westwood|