Bitcoin raised eyebrows of the worldwide investors’ communities as they didn’t expect Bitcoin an entity for high-yielding investment. Bitcoin was designed to simply allow its users to send and receive payments with an acceptable level of privacy and any other form of money.
Still, it started bringing profits for its users that amazed investors’ communities. Bitcoin’s genesis was a philosophy as it seemed impossible for anyone to transact without a bank, but bitcoin did it well.
Bitcoin’s creation is a boon for those facing the challenge of using real-world currencies for illegal purposes, but it raised concern for the economies as Bitcoin doesn’t contribute to the GDP.
A decade after birth, Bitcoin grew up more significant and was called big money. It looks odd, but the things genuinely happened like this. Bitcoin started catching the eyes of three overlying communities:
- A small community of real believers and creative investors
- Casual investors having the intention of making some extra money
- Aficionados of blockchain technology
Bitcoin for real-world transactions
Bitcoin, an original version of peer-to-peer electronic cash, is successful for direct online payments from one party to another without a banking channel’s engagement. Bitcoin’s ideology has, therefore, influence on the banking system’s sovereignty in the financial kingdom.
Bitcoin’s invention is a strike over the banking rule. Bitcoin proved with its virtual existence that real money is bizarre in some sense. Cryptocurrency is not real, but its exchange or transfer is much more comfortable and secured than actual currency. Bitcoin is a godsend for those trying to find an alternative to the mainstream monetary system.
The catastrophic effects of the banking system are that,
- a bank may fail
- it is susceptible to financial scams
- the government may freeze your account
You are nowhere when your money is gone. Bankruptcy is inevitable when you play with real money. Dealing with Bitcoin takes anyone far away from the financial crisis.
Bitcoin – underworld transactions
Bitcoin’s structure reveals its philosophy. Bitcoin is typically universal, decentralized, transparent, anonymous, fast, non-repudiating, and highly portable. Bitcoin is thus loved by the underworld dons, but hated by the governments for these reasons.
Bitcoin transactions are not reflected in anyone or anywhere because of blockchain technology. The transactions are recorded in the electronic blockchain ledger and verified there. It is a significant advantage for those who want to make transactions for illegal purposes, as usual in the underworld.
The tax and other government authorities cannot track them online. Bitcoin is thus more useful for money-laundering.
Bitcoin for investment
People ready to take a high risk for their investment portfolios usually choose stocks, forex, commodities, or precious metals like gold trade, but a few think of cryptocurrency trade. In reality, investments in cryptocurrencies are more profitable than other speculative trades.
Bitcoin investment holds the authority in cryptocurrency trade. Crypto mining may not be comfortable for many newbies in cryptocurrency trade, but trading robots, like the bitcoin supreme, are quite useful for these traders.
Cryptocurrencies are more stable than stocks, forex, etc. Crypto exchanges, mainly operated through trade robots, provide all necessary facilities to cryptocurrency investors. Bitcoin, called “digital gold,” is a money-spinning investment, especially for those who understand it well.
Bitcoin has the attributes of verifiable ownership, censorship resistance, divisibility, portability, and immutability that makes it an attractive alternative to other forms of investment instruments. When other trading markets are on the verge of collapse, Bitcoin continues to surge.
What you can achieve from Bitcoin
In recent times, cryptocurrencies are moving faster in the currencies’ race to becoming a largely accepted financial instrument despite their non-applicability in the real world. They are consolidating their position as a usual means of payment, but they cannot be disregarded as an investment avenue.
Digital money is an attractive and convenient means of payment that would be widely used in the near future. It’s not a bad idea to add Bitcoin to your investment portfolio to be at the peak of the trend. The fact is that national currencies can catastrophically devaluate in the future, but Bitcoin will stand alone as a stable instrument.
Bitcoin did well in the past; it’s stable in the present and has a bright future, considering Bitcoin’s applicability as a secured payment channel and highly profitable investment instrument. Think of Bitcoin from various perspectives!
Video – Cryptocurrencies