If you’ve ever dabbled in Bitcoin or cryptocurrency in general (or wondered about doing so), one thought probably occurs simultaneously: Why use Bitcoin?
The question is understandable. The everyday Guttenberg individual grasps next to nothing about electronic cash, money that exists in the virtual environment. Even when printed on paper, it’s just a QR code. Why convert hard-earned dollars into something seemingly so abstract?
A multitude of motivations exist – among them, privacy, immediate transactions, investment possibility and total financial control. Interested?
Of thousands of cryptocurrencies, Bitcoin (regularly termed “digital Gold”) is the most popular and commonly held. Demand has spiked so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Guttenberg , just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.
When you convert money to Bitcoin, you enter a financial playing field where you are in full control. Bitcoin is not tethered by any government laws, nor policies of third-party Guttenberg financial institutions. It’s a decentralized, international currency used for dealings directly between two sides, with neither knowing whom the other is.
Bitcoin is tremendously 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 turn cash into remittances within minutes.
At one instance in 2017, the price of Bitcoin topped the price of one troy ounce of Gold. Both are perceived as “safe haven” assets for Guttenberg investors. The “Bitcoin vs. Gold” argument has raged for years, with some watchers falling squarely on the Bitcoin side.
Why? Bitcoin can be utilized as currency, unlike Gold. Bitcoin has a predetermined supply, while the worldwide availability of Gold grows around 1.5 percent every year. In the five years preceding 2020, Gold’s value grew around 67 percent; Bitcoin, however, rose as much as 4,500 percent.
The amount of Guttenberg businesses and organizations using Bitcoin expands steadily. Popular names such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are on the list.
Anyone can buy and use Bitcoin. Given that 25 percent of U.S. households, including those in Guttenberg, are unbanked or underbanked, its allure to those who don’t use banks – whether by choice or other rationale – is obvious. Bitcoin security is unequaled, protected by a globe-spanning network of complex computers using blockchain technology.
Transactions using Bitcoin are immediately completed. There’s no paperwork. 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 conventional currency. If you’re interested in examining Bitcoin, maybe begin with a small value. Visit a cheap local Bitcoin ATM near Guttenberg and invest some cash. Understand how a virtual wallet operates, and how Bitcoin is used to buy products and services.
You can feel safe doing so, too. Coinsource Bitcoin ATMs have one of the highest levels of compliance in the industry, backed by more than 30 money transmitter licenses. Coinsource is one of the most validated Bitcoin ATM companies globally and in Guttenberg .
You probably have more questions about Bitcoin … and that’s natural. But the answer to the repeating one – “Why use Bitcoin?” – will likely be answered in short order.