If you are like the many who are just beginning their cryptocurrency journey and are unsure of "what's in it for you", you may be asking yourself this question. We are here to answer that and below are some of the major reasons why you should consider using Bitcoin.
- It is Fast and Global
Bitcoin can be used from anywhere in the world to make or receive payments instantly at close to nothing in transfer fees. It also gives you the convenience of making payments without stress as you can make a transfer without needing a credit card or physical cash from anywhere.
- It is Secure
Making credit card and online transactions leaves you open to fraudulent attacks and exorbitant charges. Bitcoin transactions cannot be reversed meaning that once a merchant makes a payment, it will not be cancelled. Also there is no need for a third-party merchant during transactions that will act as a a middle-man for payments.
- Privacy Assured
Bitcoin was designed with anonymity in mind. All transactions made across the network are anonymous, making use of only Bitcoin addresses and not names. You also have authority over your finances which was previously in the power of banks and other financial institutions.
- Not Subject to Inflation
Traditional currencies have no limit on the amount that will be in circulation at every point in time, therefore, the rate of inflation is high. The algorithm used in Bitcoin transactions has been programmed in such a way that only a few coins trickle out every few hours. Also Bitcoin is capped at 21 million which makes it scarce and valuable.
Note: As with all financial investments, Bitcoin is a risky investment and should be done with the knowledge that one may encounter high financial gains or none.