London, UK, 4th Dec 2021, ZEXPRWIRE, Bitcoin has been around for a while now, and most people have heard of it. However, many don’t know exactly what BTC is or the value it holds.
In this article, Victoria-Coins broker Phillip Houston will look at the benefits of BTC as a new form of currency with a specific focus on its current and future value. We’ll also discuss how it has become an important part of the financial industry and what is happening in the BTC world.
The Benefits of Bitcoin as an Investment
Bitcoin is the only cryptocurrency that has managed to maintain its place as a leader in the market since it first appeared on the scene. The other cryptocurrencies might be around, but they haven’t reached anything like Bitcoin’s success and acceptance throughout global markets and financial institutions.
Investing in Bitcoin is still a profitable venture as it continues to rise in value. At the end of October 2021 was around $40,000; Bitcoin’s value now (November 2021) is $58,539.60.
Bitcoin has been around since 2008, and it’s safe to say that the cryptocurrency market will likely continue to grow, especially if Bitcoin’s acceptance continues.
The term “cryptocurrency” explains how BTC works better than any other definition. It uses cryptography for security and the creation of new units while using a decentralized system through blockchain technology.
Bitcoin Is a New Form of Currency
The first and most important benefit of Bitcoin is that it’s a new form of currency and has several advantages over fiat (paper money) currencies. Let’s take a look at those benefits:
Currency can be transferred anytime, anywhere – A big advantage to BTC as a currency is an ease of transferring it. You can make a transfer or payment with BTC almost instantly and from anywhere in the world! This is easier than wire transfers and direct debits, where you need specific agreements and accounts set up.
Inexpensive to use – this might sound like a negative benefit (no one likes fees), but converting BTC into your local currency means you will get the best deal. There are no hidden fees or other charges, so it’s much cheaper to use BTC than traditional currencies.
It’s Fast – You can make transactions in minutes, which is much better than waiting for days until your money is transferred via wire transfers and direct debits. I’m sure we have all had the experience of transferring money between banks, only to find that it’s not in our account several hours later. This is frustrating and can be expensive when you need access to your funds immediately.
You Can Prevent Identity Theft – The decentralized and anonymous nature behind BTC means that companies and hackers aren’t able to steal people’s information during transactions like they do with credit card transactions. This provides much more security and peace of mind, especially when making online payments.
One of the most important benefits to Bitcoin is that it’s created a new system in the financial industry and one that will help people gain independence and freedom from traditional banking systems. The decentralization and transparency behind blockchain technology mean that we’re moving into a new age that will likely empower the individual.
The Financial Industry and Bitcoin
Another important benefit to BTC is how it’s becoming an integral part of the financial industry thanks to its acceptance by banks and other financial institutions. These are just some of the ways BTC has already changed banking:
Backup Protection: Many people don’t realize this, but you are protected if your bank goes out of business. If this happens, the Federal Deposit Insurance Corporation gives you access to your money, and you can make transfers as needed. However, it’s impossible to back up BTC because there is no central authority; your only option is to back up the key or keys to your cryptocurrency wallet (your BTC address).
There is a greater need for transparency in the financial industry, and Bitcoin provides this by creating a public ledger. Each transaction has a public key and a private key, ensuring that all transactions are secure and can’t be hacked or stolen from your account.
This means that governments who have been watching cryptocurrency closely should beware of possible decentralized attacks. Digital currencies are becoming more popular every day, especially here in the United States, where BTC transactions have increased by over 629% since 2013.
Should You Invest in 2021?
One of the most important benefits to Bitcoin is that it’s created a new system in the financial industry and one that will help people gain independence and freedom from traditional banking systems. The decentralization and transparency behind blockchain technology mean that we’re moving into a new age…
Many people think investing in cryptocurrency is too risky, but I disagree. I recommend buying BTC in 2021 when it’s projected to be worth $68,000. Suppose you don’t want to do that. In that case, I suggest at least placing a small amount of money into cryptocurrency so you can take advantage of the future financial freedom and independence opportunities here.
There are many benefits to investing in Bitcoin through BTC packages or other investment opportunities like mining and trading. Still, I recommend starting with something small (1 BTC) and moving on to larger investments. This protects you from losing all of your money in the unlikely event that Bitcoin fails.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.