If you’ve ever thought about Bitcoin or cryptocurrencies in general, a few questions probably arise over and over: Why are so many Hudson 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, money that exists in the virtual realm. Bitcoin increases in value because its supply can never be greater than 21 million Bitcoin (it’s in the protocol). As demand goes up, adoption goes up, investors continue to invest in and hold Bitcoin and - because its supply is limited - it only makes sense that its value continues to rise, 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 grown to a level that more than 4,000 local Bitcoin ATMs can be found in the U.S. If you’re in Hudson County, it is easy to find a nearby cheapest-fee, 24-hour customer-service Bitcoin ATM.
These local Bitcoin ATM machines allow consumers globally who don’t have bank accounts (“unbanked”), and people who have reduced access to bank accounts (“underbanked”) to participate in the Bitcoin arena. When you transform currency to Bitcoin, you enter a financial realm where you are in absolute control. Bitcoin is not constrained by any government laws, nor policies of Hudson 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 gets rid of middle parties such as banks and other financial gatekeepers.
The quantity of businesses and organizations using 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 buy and use Bitcoin. Given that 25 percent of Hudson 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 unmatched, guarded by a worldwide network of complex computers utilizing the unbanked and underbanked. They can purchase Bitcoin using cash, with no necessity for a bank account. The unbanked and underbanked can shop with Bitcoin, send it around the world to family and friends, or just retain Bitcoin for investment purposes. All can be achieved with no link to traditional 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, undisclosed alternative to traditional money. Bitcoin is also for those who want to safeguard (“hodl” in the crypto world) it for a long-term investment. Visit a cheap local Bitcoin ATM near Hudson County.
You can feel safe doing so too! Hudson 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 across the globe. It is also one of the rare 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.
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