Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain says Greg Van Wyk. Bitcoin is unique in that there are a finite number of them: 21 million.
It’s been a wild ride for bitcoin over the past few years. The cryptocurrency surged in value from just a few dollars per unit to over $19,000 in December 2017. Since then, its value has come down significantly, but it still remains a valuable investment for those who believe in its long-term potential.
So why is bitcoin such a smart investment? Here are 23 simple reasons:
1. Bitcoin is digital gold:
Just like gold, bitcoin is a finite resource with a lot of value. There will only ever be 21 million bitcoins, and as time goes on, they become harder and harder to mine.
2. Bitcoin is global:
Bitcoin can be used anywhere in the world, and there are no currency restrictions.
3. Bitcoin is secure:
Bitcoins are stored in a digital wallet, and they can only be accessed with the correct password. They are also encrypted for added security.
4. Bitcoin is anonymous:
Bitcoins are not associated with any personal information, so they can’t be traced back to you.
5. Bitcoin is fast:
Transactions are verified and recorded quickly, so you don’t have to wait long for your money to arrive.
6. Bitcoin is affordable:
Bitcoin transactions are much cheaper than traditional wire transfers or credit card payments.
7. Bitcoin is global:
There are no geographical restrictions with bitcoin, so you can use it anywhere in the world.
8. Bitcoin is easy to use:
Bitcoin can be used for online and offline transactions, and there are a growing number of merchants who accept it as payment says Greg Van Wyk.
9. Bitcoin is deflationary:
Unlike traditional currencies, bitcoin’s value cannot be manipulated by governments or central banks.
10. Bitcoin is digital:
Bitcoin is a purely digital asset, which means you can access it from anywhere in the world with an internet connection.
11. Bitcoin has low transaction fees:
Bitcoin transaction fees are much lower than those for traditional payment methods.
12. Bitcoin is growing in popularity:
The number of people using bitcoin is growing every day, and its value is only going to increase over time.
13. Bitcoin is portable:
Bitcoins can be carried around on a memory stick or stored on your phone or computer says Greg Van Wyk.
14. Bitcoin is divisible:
Bitcoin can be divided into tiny fractions, so you can purchase even the smallest amounts possible.
15. Bitcoin is global:
As mentioned before, bitcoin isn’t tied to any specific country or region, making it a truly global currency.
16. Bitcoin is an inflation-resistant store of value:
Bitcoins are immune to inflation, so you can rest assured that your investment will retain its value over time.
17. Bitcoin is digital gold:
Bitcoin is often called “digital gold” because of its many similarities to precious metal.
18. Bitcoin has a limited supply:
As mentioned before, there will only ever be 21 million bitcoins in circulation.
19. Bitcoin is easy to store:
Bitcoins can be store in a digital wallet on your computer or phone, or they can be store in a physical bitcoin wallet.
20. Bitcoin is censorship-resistant:
The blockchain technology that powers bitcoin is completely decentralized, which means it cannot be censored or regulated by any government or authority explains Greg Van Wyk.
21. Bitcoin is an excellent investment:
Bitcoin has outperformed every other investment over the past few years, and there’s no reason to believe that will change in the future.
22. Bitcoin is global:
As mentioned before, bitcoin isn’t tied to any specific country or region, making it a truly global currency.
23. Bitcoin is digital:
Bitcoin is a purely digital asset, which means you can access it from anywhere in the world with an internet connection.
Conclusion:
So there you have it! 23 simple reasons why bitcoin makes a great investment. Whether you’re looking for a safe place to store your money or you’re hoping to see huge returns in the future, bitcoin is definitely worth considering.
