Bitcoin is the digital currency that is used by the people globally for online and offline transactions. Today, it has become an investment option for people. If you do not own the bitcoins, you can land on the bitcoin exchange platform to buy for the money and start to trade. When you earn money through bitcoin trading, you can convert it into your currency and use it. The best part of bitcoins is that there is no governing body or financial institution involved in the transactions you are making.
Here are a few strong reasons to own or trade cryptocurrencies
Not dependent on any of the financial institution
When you do a transaction, the financial institution will track the sender and receiver. On top of it, they also charge the transaction fee. The cross-border transactions will cost a lot to the person sending the money. However, with the advent of this digital currency in 2009, not many started using it. Recently, the craze for it has been increased as there is no third party or financial institution to track the transactions. No one will know the sender and recipient details. You can happily transfer the money while staying anonymous. There are no rules.
Chargeless fee compared to the traditional payments
Bitcoins would not charge any fee. The apps and services that are offering you one of the payment modes as bitcoin would charge a low fee for bitcoin transaction. It is lesser compared to traditional payment methods. Today, many prefer to do transactions using bitcoins.
There are different types of cryptocurrencies available on the internet. However, the crypt currency that has become popular is the bitcoin. Many top businesses are also encouraging their customers to pay through bitcoins. If at all you want to choose cryptocurrency, you should pick bitcoins.
Europe approved bitcoin as a commodity.
Europe has approved to consider bitcoin as one of the commodities. On this commodity, there is a VAT exemption given to the public. The bitcoin price would depend totally on the demand and its supply. This regulation would increase the demand for bitcoins as the government is offering tax benefit to the people. More importantly, the bitcoins are also regularized.
High volatility would have an impact on the bitcoin price
2015 has been a great year for the stock market as the market was going up and down. Many people consider bitcoin to be the best alternative to gold coins and consider this to be having a high storage value. When there is high volatility, it opens the door for the bitcoin to flow briskly. In the coming years, the market can be highly volatile.
Companies are developing tools for the bitcoin ecosystem.
Many of the venture capitalists globally are spending a lot of money on the bitcoin ecosystem. The services and apps are increasing in the virtual world. Today, even non-technical users can use the app for various purposes. Many applications are developed based on the bitcoin ecosystem, with many people embracing bitcoins. With the increase in demand from the people, bitcoin turned out to be a hero in the cryptocurrency world. When there is a massive demand for these coins, you can sell the coins for thousands of dollars and make a considerable profit.
No bank run is required.
The best thing is that you do not have to go to the bank to buy bitcoins or to do the transactions. Many countries have been running to the banks to complete the transactions for years. The best solution that is offered is in the form of bitcoins. It is the best way to store your wealth outside the traditional banking system. No individual has to run to the bank to store the money.
Bitcoin trend is picking up.
The one thing you should know about bitcoin is that it is highly volatile. The price of the coin would go up and down frequently. You have to keep a close watch on the bitcoin market. The bitcoin price has gone to thousands today.
Highly secure to make payment online
The bitcoin protocol is a safe and secure way to make the payment online. Undeniably, bitcoins are found to be highly secure when compared to the other payment methods.