Cryptocurrency

7 Striking Reasons Why You Should Buy Bitcoin

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If you are still wondering why you should buy bitcoin, then this article is for you. You see, bitcoin is the electronic cash that can be used on the bitcoin blockchain network without intermediaries. It is the digital cash created by Nakamoto Satoshi in 2009 for individuals to control and monitor their funds instead of them being managed by the government, banks and any company. Bitcoin is also that virtual money system where owners are in charge, middlemen are irrelevant, there are no interest fees and transactions are very clear.

Bitcoins are not in printed forms like other conventional currencies like dollars and euros, they are made using free software. One amazing fact about this bitcoin network is that it is not controlled by any institution, body or agency but rather managed and maintained by a group of coders. Here are major reasons why bitcoin is the best option for you than the current fiat money available to us around the world;

Bitcoin Is Limited In Supply

This simply means that you are secured with bitcoins because there is a limited supply which cannot exceed 21 million coin supply cap, unlike the paper money that the government manipulates by printing more currencies which causes inflation and eventually devalues the money thereby affecting the purchasing power of individuals in a state. Bitcoin is known to have zero tolerance for inflation which is actually of great benefit to both the buyer and seller.

Free From Fraud

With bitcoin, you can carry out successful transactions and trading without disclosing important financial details like credit or debit card numbers to your business partner. It affords you the security that makes it very difficult for fraudsters or scammers to interfere in your business dealings or even prevent hackers from intercepting one’s details or account. Bitcoin system guarantees your privacy because your identity is protected from your business colleague, only your bitcoin address code is visible.

Fast Transactions

When it comes to bitcoin dealings, it is usually the fastest in comparison with the regular money system that we all know. Sometimes transfers done with credit cards may be delayed as a result of bank network failure or the issue of signing of papers and documents to finalize heavy dealings but with bitcoin, it is almost immediately that the other end receives the payment. With bitcoin in place, distance is no barrier to transactions, currency difference is not a hindrance because transactions are sealed on the bitcoin network through its public ledger that can be confirmed using the free Bitcoin transaction Accelerator. International bitcoin transactions are faster, easier, safer and cheaper with very minimal fees than the usual credit card payment, ATM cash withdrawals, transfers between countries that usually attract lots of charges.

No Bank Account Needed

Bitcoin is also an option for many individuals around the world who do not own a bank account, all they need is a smartphone or a computer and internet services to create a crypto wallet which needs no filling of forms and documents with long processes. In this system, the whole process is done via peer to peer network. There are no external influences that are capable of freezing, taxing and determining of profits that one receives. You can even buy bitcoin with Paypal.

Pseudonymity

While regular users of online payments are identified and made to abide by the anti-money laundering rules, users of bitcoin are verified digitally almost immediately there is a request by another user of bitcoin. The protocol clocks their previous records if they are eligible to transact the business, if they are confirmed, then the transaction will be successful without delay.

Irreversibility

For bitcoin transactions, there are no refunds and it is irreversible. This is because there is no validator or controller who would give instructions like ‘’ok’’ or ‘’please refund’’, once the deal is recorded on the public ledger, then nothing can tamper with it. One cannot be cheated because every transaction is transparent and visible on the wallet, so it can easily be tracked. This bitcoin network gives no room for criminals, fraudsters and scammers.

In conclusion, bitcoin is one of the most reliable and fastest-growing digital cash systems that are available. If you are searching for what to invest in then, bitcoin is the best option, so buy bitcoin now.

Household names and prominent men who are financial pillars in our world today have invested into bitcoin and they seem to have no regrets.  They have this to say; Tyler Winklevoss, co-creator of Facebook, summed it up when he said:  ‘’We have elected to put our money and faith in a mathematical framework that is free of politics and human errors’’. Rick Falkvinge, the founder of the Swedish Pirate Party, predicted that ‘’bitcoin will do to banks what email did to the postal industry’’, so go for it, a trial will convince you!

Raj Hirvate
Hi, I'm Raj Hirvate and I am a Tech Blogger from India. I like to post about technology and product reviews to the readers of my blog. Apart from blogging i'm a big Anime fan I Love Watching Naruto, One piece and Death Note.

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