Bitcoin is the first and the most popular cryptocurrency that arose in 2009. More than a decade people have argued about buying bitcoin and other cryptocurrencies. Critics regularly predict the death of cryptocurrencies, but so far digital coins are only developing. For example, the bitcoin rate in 2009 started at ~1.3 BTC for $1. Now 1 BTC is more than $10,000 (October 2020). This growth attracts many traders and people who haven’t any experience with digital money.
Some services are already accepting cryptocurrency payments, you can receive cash via crypto ATM and the area of the digital currency industry is actively developing. But is it worth investing in?
In its early days, bitcoins were worthless and were only used by crypto enthusiasts who were interested in blockchain technology. Everything has changed today and you can use bitcoin in different industries and directions.
More and more projects are accepting bitcoin and other cryptocurrencies as payment methods. These include such large companies as Microsoft, Wikipedia, KFC, Burger King, Twitch and Namecheap. Thus, you can store some of your assets in bitcoin to pay with cryptocurrencies online.
You can use a cryptocurrency wallet as a debit card. In some regions, you can find bitcoin ATMs that provide the same services as regular fiat ATMs.
Bitcoin can be used as a regular fiat currency if you will use goods and services that can be paid with cryptocurrencies. The cryptocurrency transitions are especially relevant for people who live in countries with a degrading economy or without a stable currency.
Bitcoin operates on a blockchain technology based on cryptography. This makes cryptocurrency transactions safe and secure. Decentralization makes these transactions transparent and open to all users of the system. Many people are attracted by the lack of a single regulatory instance in cryptocurrencies.
Bitcoin and other cryptocurrencies are becoming an excellent alternative in the economic crisis. The bitcoin rate is volatile, but not so rigidly tied to the quotes of national currencies or the situation on the fund exchanges. For example, in 2014-2017 in Venezuela, the popularity of cryptocurrencies has been driven by the bolivar devaluation.
Initially, cryptocurrencies drew a lot of criticism and interested only those who understood how they work. Now more people are interested in cryptocurrencies. And that puts digital money in a row with traditional payment methods. During its existence, bitcoin has proven its stability as a financial instrument.
As you know, the maximum bitcoin amount is 21 million bitcoins. This protects the cryptocurrency from inflation and creates additional value, while traditional currencies can be printed by banks almost anytime.
Bitcoin’s popularity is growing, as is the demand for it. More and more services provide an opportunity to pay with cryptocurrencies and more and more ways to use cryptocurrencies appear.
Wrapping up, we can say that bitcoin and other cryptocurrencies are no more the strange technology for a narrow group of people. Bitcoin is becoming a popular payment method and it’s the appropriate time to buy some coins. You can buy the first cryptocurrency on an exchange or P2P platform. At Bitcoin Global, you will get a reliable and secure crypto wallet where you can store your bitcoins and get access to them both through the website and through the mobile application.
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