The world has been going nuts over the recent bitcoin technology and more because it's price sky-rocketed almost overnight. Now, more people are paying attention to bitcoin, which is a type of cryptocurrency. It is innovative in its own way. It can be used for purchase or kept as investment as well. And if you are an investor, then following are the top five reasons why you should be thinking about investing in bitcoin next.
It's Easy and you can use it to Buy Goods
Bitcoin is extremely easy to get involved in. Investing in bitcoin is as easy as buying bitcoins on an online exchange. The decentralize system makes all transactions safe and easy. Moreover, a lot of organizations especially online companies are using bitcoin as their primary currency which makes it easy to use as well.
Shopping is easier than ever
Another advantage of bitcoin investment is online shopping is easier than ever. No matter what you want to purchase, you can easily buy it with bitcoins. Whether you want to buy Richard Mille with bitcoin or BVLGARI necklaces, it’s just one click away. Now there are many online shopping sites that are offering prices in crypto currency.
Bitcoin is Cost-Efficient
The usual exchange fee on bitcoin is 0.2% of the transaction fee, which is minimal if you compare it with the banks. Banks usually charge 3% as charge fee if you buy in foreign currency on credit cards etc. So it means it is cost efficient.
People Have Gotten Rich from it
There are at lest ten billionaires today who have made a fortune from investing in bitcoin. The most obvious reasons is because the value of bitcoin rose from $2000 to $16000 in just about a few months. The example of these people should be enough to convince you that bitcoin investment is a safe and profitable bet and these are real life examples.
Bitcoin is a Non-Governmental Currency
The progress of bitcoin is rumored to be dependent on political instability as it is a non-governmental currency. So, even if the future is unstable, you can be sure that your investment will stay unaffected to all the unrest. It will certainly yield profits. Moreover, it is obvious according to the finance experts that the future will belong to cryptocurrency. Not only bitcoin but other cryptocurrencies that have emerged recently will be the primary source of monetary exchange.
Bitcoin is becoming Mainstream
Bitcoin was an instant success on its debut on the Chicago Board Options Exchange, due to its transparency and liquidity. It is a technology derived from Blockchain which has become renowned for the safe transactions. This has increased the trust of people in bitcoin and more number of organizations are making bitcoin, the main mode of monetary exchange. This will also compel people to embrace it and enter the mainstream.
This is the great time to invest in bitcoin as after COVID19, things are quite uncertain. There is an expected hype in the coming future.
Ikhraaf Qaiser is a blogger and renowned author on many websites. He loves to write about health, lifestyle, and travel.