Have you heard of Bitcoin before? I often meet when I ask someone about Bitcoin, they are skeptical or unaware that it exists. Believe it or not, Bitcoin is a great technological development on the Internet.
What is Bitcoin?
This is a digital currency, created and held electronically. No one controls it. This currency was developed by a programmer who has not yet known for sure his full identity named Satoshi Nakamoto. Peer-to-peer systems operate on servers to make payments directly to users, without involving intermediaries. Here are four reasons why you should always have bitcoin even a little:
1. Bitcoin Very Easy to Use
The first and most important reason for having bitcoin is affordability or ease of use. Undoubtedly, using Bitcoin makes it easy for almost anyone. Moreover, the Bitcoin network is cheaper than bank transfers, credit cards and other conventional banking methods.
If you use a Bitcoin payment system, you will be charged a very small transaction fee (much cheaper than credit card or banking fees) and everyone is entitled to use it. Low transaction costs make some people prefer this currency because of the relatively low cost and ease of use.
2. Bitcoin Can Help When Inflation
As we all know, inflation is rising all over the world and it could develop into an economic crisis. In a weak situation, Bitcoin is very useful. Currently, about 13.5 million bitcoin is circulating and the last bitcoin will be available by 2140. You may wonder why the year 2140?
Yes, because circulating Bitcoin can not exceed the 21 million limit due to technical limitations of computing so the price of a bitcoin is projected to increase as more euros and dollars flow into the system. Many people call bitcoin a gold substitute, and call it "Gold-2.0".
3. Bitcoin is For Anyone
This is the fact that the entire banking infrastructure around the world can be traced back to a small group of people making decisions and adjustments. In other words, we can conclude that all major financial decisions are in the hands of some businesses, individuals from very wealthy families, and companies that own and control most of their money.
Bitcoin is a decentralized crypto and is not controlled by any organization or institution. The Bitcoin system appears to be a promising undertaking to control the economy of a handful of people making decisions, increasing stability and prosperity.
4. Bitcoin is safe
Many people are afraid of Bitcoins intangibility, but Bitcoin is very safe to use because it can not be multiplied or faked at will. If somebody wants to emulate cryptocurrencies, they have to get into existing software on a decentralized network running on hundreds of thousands of servers. So far, bitcoin counterfeiting is not possible.
Bitcoin is considered the currency of the future and gradually taking over the traditional currency. While there may be no government support, it will soon become a recognized currency and will soon be used as a normal currency.