Cryptocurrency such as bitcoin and others haven’t been around all that long but they have taken the online marketing world by storm.
Paying for virtual purchases with virtual money is becoming more and more the norm. If you’re a little confused by all of this, you’re not alone. Nevertheless, for people who aren’t that familiar with cryptocurrency, learning more about it is a good idea because many experts consider it the wave of the future. Before you rush out and buy bitcoin to start your online adventures, here are a few reasons why most people think that this type of currency is here to stay.
- It Is Easily Accessible
Bitcoin and other types of cryptocurrency are very easy to find, to buy, and to use. Even though bitcoin itself uses blockchain technology, which is complex to understand, you won’t need to know any of that yourself just to buy, sell, or invest in this type of cryptocurrency. You can start by buying a small number of bitcoin and you can find them almost anywhere. To get started, do a little research online to learn the basic rules needed to make the right decision and the rest of the process should be simple.
- Middlemen Are Usually Not Needed
If you execute a financial transaction online, especially if you’re trading or selling anything, you usually need a middleman to complete the process. If you buy Bitcoin for any purpose, you won’t need a third party just to complete the transaction. Even if you use PayPal or a regular credit card, you’ll pay them a fee for their service; however, when you’re dealing with cryptocurrency, this won’t happen. You’ll be dealing directly with the person you’re buying from and no one else, which makes the transaction both less expensive and faster.
- The Transactions Are Very Secure
Thanks to blockchain technology, there is no central bank or other financial institution involved in the transaction, which makes all of your transactions not only faster and simpler but a lot more secure as well. Because of this technology, there is less threat of malicious attacks and other security threats; in fact, no one can trace your purchase of any cryptocurrency even if they tried. Rather than deal with banks and other financial institutions and risk the transaction being not completely secure, currency such as bitcoin never has that problem.
- Transactions Are Global and Not Local
When you buy bitcoin and other cryptocurrencies, you can use it all over the world. There are no exchange rates, no researching what the other country’s form of payment is, and no trying to figure out how many bitcoins you need for a certain purchase. In other words, your transaction will be simple whether you’re sending currency to an entity across the street or across the globe. This is one of the many reasons why so many businesses located all over the world are completing some of their transactions via cryptocurrencies.
- It Is More Trustworthy Than Banks
Banks fail and they lose money but you don’t have to worry about losing a lot of money when you deal in cryptocurrencies instead of cash, credit cards, or bank loans. If you study the past 20 years or so, you’ll see numerous debt and financial crises that have ruined millions of people’s lives. In fact, bitcoin came into existence right after the housing “crash” of 2008 as a possible solution to these crises. Although this isn’t always the case, you can generally trust cryptocurrencies way more than you can trust a central bank, which is yet another reason why more and more people are executing their transactions with cryptocurrency.
- It Is an Unstoppable Trend
Finally, when you buy bitcoin, you become part of something huge because by all accounts and predictions, cryptocurrencies are not going away anytime soon. For all practical purposes, cryptocurrency cannot be tracked, shut down, or even affected by crypto bans, as we’ve seen in the past few years. Much as with other trends that people now accept as part of everyday life, cryptocurrency is going nowhere but up in popularity and efficiency. In fact, if you choose not to buy or invest in cryptocurrency, you may soon find yourself feeling very much left out of the mix.
