5 Reasons To Invest In Bitcoin
What Is Bitcoin?
The first question that comes to the minds of most people is “what is bitcoin’? Bitcoin is an asset – not much different from stocks, gold, bonds, or anything else. Bitcoin is “mined”, which is when people compete by using powerful computers to solve complex math problems. The winners are awarded with bitcoin.
The whole point of bitcoin is to be able to send money quickly, cheaply, and anonymously. Small businesses like Bitcoin because there is almost no transaction fee, and international transactions are easy because Bitcoin is not tied to any country.
The following are reasons to invest in Bitcoin, the cryptocurrency that turned the Winklevoss twins in to billionaires. (Continues on Page 2)
Something to add? Tell us in the comment section below!
1. Sending Internationally
Banks and services like Wester Union charge the customer with a transaction fee for every international transaction. These fees can be as high as 20% depending on the service, and for those who need to send money regularly or in large amounts, this can add up quickly. Not only that, these transfers can take days to complete. Bitcoin transactions happen immediately and only incur a 1% transaction fee. Because of this, Bitcoin continues to gain popularity with those who need to send money internationally, such as foreign exchange students and immigrants with family abroad.
Something to add? Tell us in the comment section below!
2. Almost No Transaction Fee
Bitcoin continues to gain popularity among small businesses as well. This is because unlike credit card transactions which can eat in to a businesses bottom line, bitcoin charges a mere 1% transaction fee which is split between the sender and recipient. This removes the need for the customer to pay a ATM or credit card fee, while also eliminating the transaction fee at the business, which ends up being beneficial for everyone.
Something to add? Tell us in the comment section below!
Advertisement
3. Investors Are Taking It Seriously
Since it’s inception in 2008 Bitcoins have mostly caught the attention of those invoilved in the tech industry. However, with it’s recent spike in value, Bitcoin has caught the attention of many hedge fund investors and entrepreneurs are taking it as seriously as stocks, bonds, or any other commodity.
Read Next: 27 Most Drug Addicted Cities In America
Something to add? Tell us in the comment section below!
Advertisement
4. There Is A Limited Amount Of Bitcoin
There will only ever be 21 million bitcoin in existence, 16 million of which have already been mined. The number of new bitcoins is cut in have every few years, and by 2040 there will be no new bitcoins available, only those in circulation. This shortage of supply for a large amount of demand could mean a large increase in value.
Read Next: 27 Most Drug Addicted Cities In America
Something to add? Tell us in the comment section below!
Advertisement
Read Next: 27 Most Drug Addicted Cities In America
Something to add? Tell us in the comment section below!
Advertisement
Reason 1 NOT To Buy Bitcoin: Reputation
Many people associate Bitcoin with criminal activity. This is because in the beginning many Bitcoin users were actually those seeking a currency which they could send and receive while remaining anonymous for things like illegal drugs or extortion. Because of this Bitcoin kind of has a bad rap, but that will change as more mainstream users begin to adopt the cryptocurrency.
Read Next: 27 Most Drug Addicted Cities In America
Something to add? Tell us in the comment section below!
Advertisement
Read Next: 27 Most Drug Addicted Cities In America
Something to add? Tell us in the comment section below!
Advertisement
