Cryptocurrency, or to be more precise, Bitcoin has been the word of the year, and the reasons for that are numerous, and if there weren’t for this freaking pandemic, it would probably be the world of the decade. Investing, trading, buying, selling, market, all of these words a decade ago were closely connected to stocks or real estate business, but today, our first thought when someone mentions one of these terms is about digital money. From the very first moment that cryptocurrency became a real thing, and not just something imaginary, everything changed. Of course, it all started with an unproven attack on Bitcoin like it was some kind of hoax or scam, Ponzi scheme, but with time, even the fierce doubting Thomases started saying that crypto represents something unique, something that will mark our future.
The blockchain technology behind digital money is the most complex line of code humans ever created, and it is the core of all cryptos out there. Yes, Bitcoin shooked up the whole financial market as we know it, but isn’t that precisely what we want? We value and speak about privacy all the time, but when it comes to money, well, we let banks and governments deal with it. BTC changed all that, and today, we can complete any transaction in no time and without banks acting up as a third party, a party that overlooks those transactions. Everything about cryptocurrency is still relatively new. Nonetheless, it is still something that will mark our future, and even though it affected the global financial system, it changed it for the better, and the positive effects of Bitcoin on the world economy can already be seen. It for sure is a currency of the future, and here is why:
1. Limited amount
Just those who are new to Bitcoin and cryptocurrency may not be aware of the fact that there is “only” 21 million of Bitcoin that can be mined, but what even those trading BTC probably don’t know is that there is only slightly above 2 million left. That is why its value is rapidly increasing, and even with halving, this trend is only to continue as demand is setting the price, and the demand of BTC is increasing every minute, which just increases its value. Okay, by many predictions, at this rate, the last BTC is going to be mined in 2140, but that doesn’t mean that its value or demand for it will drop until then.
2. There is no possibility of inflation
Many fiat currencies faced inflation at least once, and it is very difficult to recover from it. Inflation is decreasing the value of the money, and the governments print it more and try to find a balance, but it is not that easy. The other factor that can easily cause the decrease of the money value is stimulus bills, which are necessary during and after the crisis. These crises can be various, and they can be natural disasters, disasters caused by war, or pandemics that change our lives in so many ways. People are running out of their money because they are losing their jobs, and they are losing them because small businesses are forced to shut down. It becomes a vicious circle, and it is impossible to get out of it without money, so the governments need to help them with some stimulus funds, which usually means printing more of them. It results in decreased money value, and recovering from it usually takes a lot of time. The situation with Bitcoin is different, and no matter what happens, we already know how many of them will ever exist. Because of its limited amount, it can maintain its value and avoid inflation. There are many other cryptocurrencies on the market, but none of them have the fixed supply as BTC, and its amount is already written into its code.
3. The safest network
The cryptocurrency market is improving all the time, and many new currencies appear, but we should keep in mind that not all of them are safe to use. The technology which is used for Bitcoin is the safest one, and it is impossible to hack it or abuse it, and it can become even safer in the future. The fact that there are more than 18 million people around the world who mine BTC is a great indicator of how secure its decentralized network is. This decentralized network is called blockchain, and the more users it has, it becomes more decentralized and secure for BTC payment methods. That is important because it prevents us from losing all our money in only a few seconds due to an unsafe network or other technical problems.
4. Simpler usage
BTC and its technology are improving all the time, and because of that, more and more people are using it around the world. It might be quite challenging to learn everything about BTC and blockchain technology in the beginning, so many people avoided even reading about it. Luckily, the situation is much different now, and it is easy to learn everything you need online, which makes the usage less complicated and closer to regular people. Many remember the struggle to buy or mine BTC once when it is developed, but today it is possible to buy it even if you are not a technical individual. People know more about digital money, and many companies are accepting this payment method just like using fiat money or credit cards, and their usage will probably become even more spread in the future.
The bottom line
For many years now, investing in BTC has been the best way to place our money in order to make some extra profits, and if there were any uncertainty about whether this hype over Bitcoin and cryptocurrency, in general, will stop soon, these reasons mentioned above should provide necessary consolation. The only remaining thing is to choose some reputable trading platform like BitcoinEqualizer, where you will get both great exchange rates and advice and guidance on crypto trading.