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Four Reasons Why People Use Bitcoin

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If you haven’t heard of Bitcoin, you’ve been living under a rock. It’s the coolest form of currency around!

Bitcoin is a form of digital currency. It’s fairly new, only having been invented in 2009, but you can buy real things with Bitcoin.

You’re probably wondering why you wouldn’t just use regular cash instead? Here are four reasons why people choose to use Bitcoin as opposed to other forms of payment.

It’s an Investment Opportunity

First of all, Bitcoin has demonstrated its ability to be a great investment. Coins may go for just a few cents or so, but as demand for the currency increases, so does the cost of those coins. Investors that got in at the very beginning saw their $1,000 investment turn into $400,000.

A few other benefits of investing in Bitcoin include:

  • The supply is fixed, which will increase its value over time
  • It’s being accepted as a form of payment with more and more product and service providers accepting it every day
  • It is the most commonly used and accepted form of cryptocurrency

Bitcoin has the potential to make you cold hard cash. It’s a bit like putting your money in an account that accrues interest, but Bitcoin has the potential to make tons more money.

No One Can Steal Your Payment Information

Identity theft is a real problem, and thieves are even able to access your accounts at major retailers. They could drain your bank accounts and take out loans in your name, potentially destroying your credit for years.

When you pay with Bitcoins, there’s no way to trace any of your personal information. Your coins aren’t connected to any account, so no one can steal your payment information.

Inflation is Less Likely With Bitcoin

Inflation is a huge problem, not just in the U.S., but around the world. Inflation is when prices for things keep going up and the value of money keeps going down. It’s why your grandmother only paid a few cents for a loaf of bread and you’re paying a few dollars.

Inflation exists because more and more money goes into circulation. There are a finite number of Bitcoins, potentially eliminating the potential for inflation.

You Truly Own Your Coins

When you put your money in the bank, who owns it? If you know anything about the banking system, you know this isn’t true.

The banks use your money to give out loans to other people. Then, they collect interest on those loans. They’re essentially making money on your money.

That isn’t an issue with Bitcoin. You truly own your own cryptocurrency, which means you aren’t at the mercy of the banking industry when you want to make a large withdrawal.

Using Bitcoins may be a bit difficult at the moment, but many insiders say within the next few years to a few decades, it will be a true form of payment. Get in on this investment now and you may find that you were one of Bitcoin’s trendsetters.

Author: Susan Melony