Are you thinking if you must invest in Bitcoin? Suppose you are around any financial news, you must have heard about the dramatic grow in the world’s well-known cryptocurrency. Suppose you are like many people, you are probably wondering, whether to invest in Bitcoin or not? Well here are certain things that you must know about this currency before you think of investing.
Bitcoin is well known as the cryptocurrency or digital currency. This is basically online money. Just like any other currency you may exchange for other currencies and it fluctuates related to other currencies. Unlike any other currencies it’s decentralized, it means there is not just one central bank, government or country in charge of this. That means it is not susceptible to central bank or government mismanagement.
Benefits of Bitcoin
Simple to Send Money
As it is decentralized, this means you may send your friend Bitcoin (or money) on other side within seconds without going through the bank intermediary (pay any banking fees). This fact makes Bitcoin quite popular. So, you do not have to wait for the wire transfer that will take many days, you may send the payment within seconds. If you want to get more knowledge about Bitcoins then visit Cryptalker.
There’re just 21 million Bitcoins, which can ever be mined. It limits to an amount of Bitcoin, which can be produced ever. It is like saying the government can’t print money as there’s the limited supply of the bills – and they will not print anymore. So, when there’s the set supply your buying power will be preserved and currency is immune for runaway inflation. The limited supply also has helped in contributing to an increase in its price. People do not want the currency that will get printed – and inflated – in infinity at whim of the greedy government.
Completely Safe and Private
Many people think that the Bitcoin is anonymous. However, it is not anonymous – but more private and safe. All the transactions of Bitcoins ever made can easily be seen on Blockchain – it is a public Bitcoin ledger. However, your name & identifying details behind this transaction aren’t seen. Every transaction will be linked to one address – string of text & characters. Thus, when people may see your address – bit there is not any way to link the address to you.
Much Cheaper to Transact
Lots of businesses need to take MasterCard or Visa to stay competitive. But, these cards will take some fees out from every sales transaction. However, merchant who takes Bitcoin does not have to pay hefty fees – thus it adds more money in the pockets.