Ok, many people have already been and moved past this phase. At one time, even I was standing here and wondering the very same question as you! Is Bitcoin worth it? Should I invest in Bitcoin?
It is not just that I would blindly invest in it, just because people are talking about it a lot.
Well, Bitcoin has been in existence since 2009 and has seen huge changes in its value. The price of value keeps varying vastly. It started from $0.01 and today the value of per Bitcoin is worth 20,000 $. In all these years of ups and downs, Bitcoin held its ground firmly and you will be amazed to know that Bitcoin has witnessed a growth of approximately 28 per cent every month since last 9 years.
Seems so interesting, isn’t it? In this article, I will try to figure out and explain the reasons for you guys that why Bitcoin is a seemingly great form of investment this year.
Let’s start from the beginning!
What is Bitcoin?
Bitcoin is a decentralized digital currency that works on the technology of Blockchain. The best part about Bitcoin is that it is decentralized. It is not controlled by a third party or bank. Whereas in case of fiat currency you have to depend on a third party like a bank to prove that you own digital money with the help of credit or debit cards.
Moving on, let me explain to you the reasons why trading Bitcoin in 2020 is a good idea.
- Bitcoin will always be scarce!
Many of you Guys must have this question in mind that why the price of Bitcoin keeps hiking so dramatically? The reason is pretty simple. Low supply and high demand lead to a hike in price. You must have understood what I am trying to say if you have studied economics.
Every person like you is attracted by the volatile nature of Bitcoin and wants to trade it, which has to lead to a rise in demand for Bitcoin, whereas the supply of Bitcoin is limited. In fact, there is just 21 million Bitcoin. It is a fact that cannot be changed.
You will be amazed to know that if Bitcoin was to be divided equally to all people of this world, there would be just 0.0023 BTC for each person.
- Bitcoin is transparent
Bitcoin is transparent. It is limited in number, unlike the Federal Reserve Bank that prints a huge sum of money almost every day, leading to inflation of the economy. What the Federal Reserve Bank does with that money, nobody knows! Not even the government.
Whereas, it is not the case with Bitcoin, which is fully transparent with a public ledger for everyone to see. Even if the government used Bitcoin, we would know!
- Bitcoin transaction fees are so less
The fiat money international transactions are very expensive and charge from 3.5% to a whopping 10% fees for each transaction. However, that is not the case with Bitcoin. Bitcoin charges a very small amount of fees ranging from 0.363 $ to 2.587 $.
Not just that, the transaction process of a bank is pretty slow. It takes 3 days time to transfer the money to another country, but with Bitcoin, it just takes 10 minutes times for processing and you are done.
- Bitcoin has a lot of potentials, you can be rich overnight!
Yes, you heard it right. Bitcoin is a super volatile currency and many people have become a millionaire by investing in Bitcoin Storm Login. Since 2019, Bitcoin has seen huge variations and variations in its value. It started with a value of $0.01 and today it has reached a value of 20,000 $ per Bitcoin.
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