If you’ve ever invested in Bitcoin or cryptocurrency in general (or wondered about doing so), one query probably occurs repeatedly: Why use Bitcoin?
The question is valid. The everyday Harrison individual understands next to nothing about electronic cash, money that exists in the virtual environment. Even when held on paper, it’s only a QR code. Why convert hard-earned dollars into something seemingly so abstract?
Many motivations exist – among them, privacy, instant transactions, investment possibility and total financial control. Intrigued?
Of thousands of cryptocurrencies, Bitcoin (frequently called “digital Gold”) is the most common and commonly owned. Demand has increased so much that more than 4,000 local Bitcoin ATMs exist in the U.S. If you’re in Harrison , just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.
When you change money to Bitcoin, you enter a financial arena where you are in complete control. Bitcoin is not restricted by any government rules, nor regulations of third-party Harrison financial institutions. It’s a decentralized, international currency used for transactions directly between two sides, with neither knowing whom the other is.
Bitcoin is tremendously valuable as a remittance tool. It’s faster and far less costly than Western Union or MoneyGram for those sending money around the world. A local Bitcoin ATM can change 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 viewed as “safe haven” assets for Harrison investors. The “Bitcoin vs. Gold” debate has occurred for years, with some observers falling squarely on the Bitcoin side.
Why? Bitcoin can be applied as currency, unlike Gold. Bitcoin has a predetermined quantity, while the worldwide availability of Gold expands roughly 1.5 percent every year. In the five years before 2020, Gold’s value rose around 67 percent; Bitcoin, on the other hand, rose as much as 4,500 percent.
The volume of Harrison businesses and organizations taking Bitcoin grows steadily. Everyday brands such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network are included.
Anyone can purchase and use Bitcoin. Given that 25 percent of U.S. households, including those in Harrison, are unbanked or underbanked, its attractiveness to those who don’t use banks – whether by preference or other reason – is reasonable. Bitcoin security is unmatched, protected by a global network of complex computers operating with blockchain technology.
Dealings using Bitcoin are instantly completed. There’s no obstacles. The virtual currency is stored 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, private alternative to traditional money. If you’re interested in trying Bitcoin, maybe begin with a small amount. Visit a cheap local Bitcoin ATM near Harrison and deposit some cash. Understand how a virtual wallet operates, and how Bitcoin is used to buy products and services.
You can feel protected 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 Harrison .
You likely have more questions about Bitcoin … and that’s logical. But the answer to the repeating one – “Why use Bitcoin?” – will likely be answered before you know it.