Chances are you are reading this article after the latest Bitcoin value jump frenzy that saw it just before the $20,000 mark. Now you are looking for reasons to invest in this cryptocurrency and the blockchain technology. Here are some of the reasons why you should do this:
MORE TO COME
The first thing that many people think when they hear about the current price is that they are late and people who are still buying Bitcoin are just jumping on the bandwagon. In reality, with years of mining ahead and the currency still in its infancy (more like teenage years), its value will still rise and it is a good investment.
Blockchain is not just about cryptocurrency. It is the future of the supply chain and the fight against counterfeiting. Super smart protocols such as DAO (Decentralized Autonomous Organization) and Smart Contracts are a few things emerging from blockchain that automate the operation of an organization and money transfer.
Every day people are robbed and bank robberies are committed. Bitcoin and Blockchain ensure that the money stored in your digital wallet has a level of security that is extremely safe than the virtual number representing your money in your local bank.
Have you ever had the bad experience where you had to send some money to the other side of the world and the amount of currency conversion charges, opening letters of credit, bank charges etc. made you shudder? Bitcoin puts an end to that. Since there is no banking system when it comes to cryptocurrencies, there is no middleman like a bank. You can avoid all these outrageous charges by sending money directly to the intended recipient.
TIME IS MONEY
Did we mention that you can transfer the money directly yourself? This saves you time as you do not have to fill in forms and applications. Just ask for the recipient’s public address and click away the required amount.
Since Bitcoins are limited in number (only 21 million will ever be produced), the value of this cryptocurrency cannot be devalued as its limited supply, but an ever-increasing demand means it is a self-floating currency. No inflation translates into an excellent investment.
Do you remember the Greek financial crisis when municipal councils were asked to hand over extra money to the central bank? With normal currency, the central bank owns it, not you, and can force you to return it to them. Bitcoin belongs to no one but yourself for the amount in hand. No one can force it on you.
It is not too late to invest in Bitcoin and Blockchain, but like any other currency, the future is unpredictable. Before making an investment, study the charts of your favorite bitcoin exchange carefully.