Bitcoin is a cryptocurrency that is popular around the world, even, among the richest of the world. The world is taking over the digital currency, and many government are involving themselves to state that they don’t support it. Of course, there is a level of panic & rumors among the millennials and have no idea what this is all about.
Furthermore, big-time players don’t support the digital currency, and on the other hand, they are investing in it. Nonetheless, Bitcoin’s value is increasing exponentially, and many are making millions out of it. Here are five reasons, why cryptocurrency value is growing.
1. Rarity
We should take gold for instance, where there’s a limited amount of gold left in the world. We don’t have an unlimited amount of gold left in the world, and as new gold is mined from many regions, the value of it increases. The value of this particular metal will become scarce, and then it will be harder & expensive to find new mines for it.
You might have seen a huge inflation crisis in many countries, and every commodity price goes down. Gold is one metal, where you won’t decrease the price, despite, the economy & inflation is spiking.
There can only be 21 million Bitcoins and then, whoever owns the most of it will have an advantage. In short, the value of the cryptocurrency is guaranteed and it will play a crucial role in many cases.
2. No Fixed Price
Nobody can decide the price of Bitcoin because it is not regulated by the government. In short, there is no fixed price and it won’t happen anytime soon because it is decided by the people, who are paying for it.
If one individual is paying more than what it is worth, then its price will increase, thus, the value of the single Bitcoin increases. Overall, you cannot control and the government cannot regulate it because it is virtual money.
3. No Government Control
Millions of merchants have come along way to provide a “Buy” button for the customers to purchase the goods. Yes, you can buy goods from other countries using Bitcoin, and the government cannot block your account or freeze your account. In short, nobody can stop the transaction, and you can purchase the services, products, and goods from other countries. There are no border barriers, and no federal government policies can hold it back.
4. Availability
You can find hundreds of sources in the market, who are selling Bitcoins online and make the transaction instantly. Many reputed companies have come forward to sell, transfer, protect, and store the coins safely. You don’t even have to process a lot of information because sites like CryptoTips are providing in-depth information on Bitcoins purchase & selling. It takes one-click to buy, sell, and store the coins in the wallet and reap the maximum benefits in the future.
Many companies have created altenative form of Bitcoin cryptocurrency and it has become a new source of investment. There are so many options and availability in the market, and guides to help you out.
5. Acceptance
If cryptocurrency was illegal & blocked in many countries, then these 100+ top companies wouldn’t have accepted Bitcoin as payment.
Right now, hundreds of top companies in the world are accepting Bitcoin as a payment mode. Allow me to give you some names like Microsoft, Wikipedia, Newegg, BMW, AT&T, WordPress, LibreOffice, NameCheap, Purse, Etsy, etc.
We have mentioned some of the world’s re-owned brands, who are currently accepting Bitcoins. Even, world’s biggest source of information porta, Wikipedia accepts popular cryptocurrency.
If you have trust issues with merchants like Binance, who are selling or accepting cryptocurrency on the site, then you can read online reviews. Experts in the community provide in-depth information on the services, trust flow, and reputation of the company.
Bottom Line
The cryptocurrency is a controversial topic in the world as many are bashing it, while others are promoting it. Even Facebook tried to form their cryptocurrency for a smart paying system, but they failed due to wrongful data sharing capabilities. Let u know what do you think about Bitcoin in the comment section below.
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