Why Bitcoin Is More Than Just a Fad

Finance | October 31, 2020, Saturday // 14:54|  views

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If there’s one thing we’ve all noticed through the years is the rise and fall of trends. From the once-coveted fidget spinners to the hype around streaming services, no industry is excluded from experiencing a fad or two from time to time. When it comes to currencies and the crypto world, the one thing many people still see as just a passing trend is Bitcoin. Even though the cryptocurrency has been around for over a decade now, and it’s relatively safe to say it’s thriving, many people still believe Bitcoin is going to meet its end sooner rather than later. Here’s why that’s highly unlikely.

The Potential to Make Money

If there’s one thing that people will never get tired of, it’s making money. Lucky for them, Bitcoin offers a ton of opportunities for this. Thanks to its highly volatile nature, the price of Bitcoin can vary quite a lot as time passes. This means that if you get a certain amount of Bitcoin while it’s at its lows when the price jumps days, months, or years later, you could be sitting on a gold mine. This is one of the many reasons Bitcoin trading has become such a hot topic nowadays, but we’ll talk more about that later.

Of course, this isn’t without its drawbacks. The same thing that gives Bitcoin the potential to be an investment gem is the thing that scares many people away from it. As with all investing, these things go both ways. The price of Bitcoin can drop to a staggeringly low amount and stay like that for long periods. There’s certainly a risk that comes with Bitcoin no matter how you look at it, but this immense potential to get rich fast is more than making sure Bitcoin stays relevant for a long, long time.

Bitcoin Trading Is Gaining Traction

Bitcoin trading has been a thing since the early days of cryptocurrencies, but as time has gone by it’s become increasingly popular. The most interesting thing about this is that Bitcoin isn’t just a tool for the rich to get richer. People of different demographics and social backgrounds are developing a new interest in Bitcoin, and there are a few reasons for this. The biggest one is arguably how easy Bitcoin trading has become. With the help of a Bitcoin digital app, anyone is free to learn more about how the exchange works, find the best options, and even automate the trading process.

While this still might sound a bit complicated to some, the simplicity of apps like these makes trading Bitcoin something that anyone can try out. Another big reason why Bitcoin trading is gaining traction is the demystifying of the cryptocurrency. Bitcoin hasn’t always had the best reputation, and sadly, this has mostly been due to the spread of misinformation about how it works. With detailed guides, histories, and articles on what Bitcoin is more readily available now than ever, it’s easy for people to see through the haze of misinformation and see Bitcoin for what it truly is.

The Rising Stability of Bitcoin

Bitcoin might be a volatile currency but over the last few years, the cryptocurrency has seen a decrease in volatility that points to a much more stable market. The reasons for this are widely speculated but a few possible explanations include regulatory developments and the involvement of government institutions, the increased interest in Bitcoin by major companies, and the increased liquidity. As time passes Bitcoin only seems to be cementing its place in the world, and if things continue along these lines, we can only expect Bitcoin to mature even more.

The Benefits of Using Bitcoin

It would be silly to talk about the reasons why Bitcoin is here to stay without mentioning the key parts of why people around the globe love the cryptocurrency. The benefits of Bitcoin are plenty, and while we’ve already mentioned its potential for turning people into overnight millionaires, another big part of why people turn to Bitcoin is the anonymity it offers. Like most cryptocurrencies, Bitcoin operates using blockchain technology. This incredible piece of tech offers its users a way to complete transactions in record time while keeping the user's identity under wraps.

Users don’t need to give out any personal information that may point to their identity when making Bitcoin transactions, which is a massive step up in the first place, but another thing they get when using Bitcoin is full transparency. All transactions made with the currency are inscribed on a public ledger that can be viewed by anyone at any time, leaving you with a sense of security that even fiat currencies can’t come close to.

 

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