If you aren't too busy getting triggered reading social commentaries and have kept up to speed with the latest trends around the world, you might have noticed the word Bitcoin popping up more frequently than before. That's because Bitcoin is facing its biggest change since it was first discovered (it's more poetic than saying 'developed' or 'coded').
If you are still unsure if digital currency is a real thing or have never heard of it before, you are probably missing out quite a fair bit.
Bitcoin, as well as many other cryptocurrencies are thriving to change the way how our traditional monetary system works. It has made banks look old-fashioned and physical money a useless paper waste. Some people even go as far as to forecast that fiat currency (that paper money in your wallet) will be worthless in the next generation or two. As a fan of the sci-fi game Shadowrun, the imaginative part of me can fathom a landscape where people carry around thumbdrives and pay in digital currencies.
Below are the four ultimate reasons why you should start using Bitcoins right away:
If you are serious about privacy, pay attention. How many times have you been filling out forms be it online or offline only to provide your personal information like as if it means nothing? In a world where a simple search on Google can get you ‘stalking’ someone effortlessly, the issue of ‘privacy’ is becoming ever more important. No personal information is ever required for the use of Bitcoin. Transactions are handled out anonymously and you can send or receive money online at any time of the day from everywhere.
Bitcoin is profitable in the sense that its value is expected to rise with time. This means you can earn profits merely by holding onto them. Just like all other fiat currencies, volatility exists. Daily traders take advantage of this volatility to earn profits by trading them into fiat currencies and vice versa. However, the major difference to note here is that the volatility of Bitcoin is much higher as with unregulated exchanges. The best thing? Its value has more than tripled ever since the beginning of 2017 and it is expected to steadily rise with time as predicted by major financial analysts and investors. Your due diligence is however, essential when making investment decisions!
Anytime, Anywhere, Lowest Fees
If you are someone who sends or receives large amounts of money internationally, you would want to pay attention to Bitcoin. Unlike banks, Bitcoin transactions can be handled at any time of the day from anywhere around the world. They are usually carried out instantly but require ‘confirmation’ time to verify your transaction – it usually takes no longer than 1 hour on average. When it comes to sending large amounts of money, especially to other parts of the world, bank fees can be hectic. With Bitcoin, transaction fees regardless of the amount being sent/received will never be more than a dollar. Stop worrying about bank holidays and hectic fees!
Bitcoin is based on a decentralized network for everybody to use freely. This means no central authority or middlemen is involved with Bitcoin transactions. If you are not a fan of your Government watching every financial move you make, start using Bitcoins and support the financial revolution. In fact, the currency was created by Satoshi Nakamoto (the mysterious creator behind Bitcoin) over his frustrations and anger with the unpredictable monetary changes input by governments around the world. That’s right. He was fed up of hardworking people going bankrupt due to the mistakes of the banks and the government. Gain full control over your money and be your own bank with the use of bitcoins!