Bitcoin is a type of virtual currency where you can invest and get returns at the same time. Even the bitcoins has yet not been accepted as illegal currency in most of the countries, but later if it is accepted it will raises the level of the international trade in and all around the world.
Bitcoin is a peer-to-peer network and digital currency that was introduced first in 2009.it is decentralized and is independent of any scrutiny or management from any government or banking authorities. Among some of the other popular benefits, bitcoins allow the users the option to make any kind of financial transaction at much cheaper rates than the other traditional online payment mechanism.
As a user, bitcoins are quite helpful in facilitating financial transactions with minimum fees. Available to both the regular and new users looking to invest in bitcoins, all users can buy or sell Bitcoin from established Bitcoin Agencies. As because bitcoins can be converted into several fiat currencies, the companies offer the user with the unlimited conversion of bitcoins into fiat money and vice versa. So just Go for it.
So a question may come up, Is Bitcoin a good investment? So in this article, we will be sharing some of the benefits of using bitcoins.
- Bitcoins offers several users
Initially, most of the users were introduced to bitcoins as a simple digital currency to carry out daily financial transactions with minimal charges as compared to the other forms of online payment methods. Since that time people found that there are several uses for bitcoins as the market began maturing. Bitcoin uses the blockchain technology for all the digital transactions, where every transaction is recorded and held for the verification purpose and then to process them based on their validity. All these transactions are in the form of the public ledger and that can only be viewed from specific blockchain websites. Some other activities that can be done using bitcoins, one can go for it are digital reading of securities for land titles and other properties, large insurance claims, as a payment method for remittance, for settlement of confusion between Financial institutions, for all types of documents stamping and auditing, for customer rewards and crowdfunding.
- The expected gains from bitcoins are much more than the expected loss
The potential gain in BTC is much more than the potential loss as because most of the cryptanalysts from all over the world have speculated that the bitcoins could become a global currency shortly even though it is very hypothetical. Economists have speculated that the price of a bitcoin would hike up to 200 times of its present value that is$1 worth Bitcoin would range to about $20,000 in the future.
- Bitcoins provide interest on your investment
Bitcoin is considered as simple commodity money and so when you hold bitcoins you can invest them in the same way you invest in your business with your fiat currency. Like Fiat currency, you will also generate interest from this investment, so holding up some bitcoins could allow you to invest in them and then earn interest on the same.
- The easy access
While using bitcoins, you are not required to link up your money in any long term plans so to make a profit out of it as you can make a profit in a short period, depending how much money you have transferred through the Bitcoin network. As such, you can easily invest in bitcoins and use the interest generated from the transfer in buying daily purchases like groceries. This simply means that you can get instant access to the money and do your daily financial transactions even though it is being invested.
To summarize a Bitcoin transaction is just like another financial transaction made through debit or credit card or even through paypal account that keeps a track of your fund movements that keeps updating your block chain to record all your transactions.