A big buzz is being made about Bitcoin as the most reputable cryptocurrency. It all started in 2009 when Satoshi Nakamoto decided to create something no one had imagined until then. He created the first cryptocurrency, Bitcoin. Then many other cryptocurrencies began coming out, and now there are over 5000 according to coinmarketcap.
Eleven years after Bitcoin was launched, there is now a whole industry around them, and many individuals have created dizzying wealth thanks to cryptocurrencies.
In the meantime, various trading platforms emerged. Among them, cryptocurrency trading bots began to appear, many of which turned out to be profitable and impressive. Trading Bitcoin on platforms, such as the Immediate Edge website can help you make a profit easier and faster.
Below we have listed five reasons as to why Bitcoin is still the best cryptocurrency to invest in:
1. Bitcoin is consistent
Bitcoin never disappoints. It has always remained the king of cryptocurrencies, and none of the other cryptocurrencies has been able to surpass it. Bitcoin has had its bad times.
Just recently it crashed almost down to $3000 due to a coronavirus pandemic, but it did not take too long, and the king retook its throne climbing back and now as per Coinmarketcap it stands and $10,887. Although Bitcoin has had its bad times and has lost its value, it has always gained the value back.
2. Bitcoin’s reputation is undisputed
As mentioned above, Bitcoin is the first cryptocurrency to get released back in 2009, and many times it is used as a synonym for cryptocurrencies. When people speak about cryptocurrencies, they mostly refer to Bitcoin.
Bitcoin has been endorsed as the best cryptocurrency by many reputable figures and the wealthiest people in the world. Bill Gates, Richard Branson, Elon Musk are just some of the big names that have positive opinions on Bitcoin.
3. Bitcoin’s future is bright
Bitcoin is having a significant impact on the financial world. Banks have started to give cryptocurrency services, and companies that are worth Billions are buying Bitcoin left and right.
Cryptocurrency experts believe that right now, we are going through a special time where Bitcoin growth is expected to happen as never seen before, or something similar to 2017 might occur when Bitcoin reaches $20,000.
4. Bitcoin is volatile
Volatility is one of the main factors as to why so many people prefer investing in Bitcoin. Volatility increases the chances for profits when trading as there are more opportunities to make money when catching trades, especially in short period trading, although skilled crypto traders prefer day trading.
Anyhow, there will always be someone on the other end, ready to match your order. Not just that, but Bitcoin is also known to be one of the most stable cryptocurrencies, despite its volatility.
5. Bitcoin is safe
There has always been hesitation among many people to invest in cryptocurrencies since they are entirely virtual and there have been some cases when cryptocurrency exchanges got hacked. We all remember the Mt. Gox scandal where people lost their investment when the crypt exchange got hacked.
But with Bitcoin as a cryptocurrency things are different. It is almost impossible to hack Bitcoin due to the blockchain technology which supports it. As Bitcoin users are constantly reviewing blockchain, hacks are unlikely to happen.
Conclusion
Bitcoin remains the king of cryptocurrencies. Although it has had its bad times, Bitcoin has always climbed back up as a winner. There are many other cryptocurrencies, but Bitcoin remains the most reputable one.
Bitcoin is the synonym for cryptocurrencies. The future of Bitcoin is bright as it is expected to grow drastically in value. Volatility and security are the other two factors that make Bitcoin even more attractive in the eye of investors and traders.
Video – Cryptocurrencies
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