If you go through several research papers and survey results on cryptocurrency network transactions, you would be surprised to know that the total number of Bitcoin trading transactions that have taken place since its launch in 2009 is almost 668 million! Even if you go for proper research today, you will find out that most people enjoy investing in Bitcoins each day and get high-value returns whenever they want. In today’s world, people go for almost over two lacs in investments and transactions worldwide in one day.
But have you ever thought to yourself about the possible reasons behind such high demand for Bitcoins? If not yet, it is time to trigger your curiosity and find out the relevant reasons from the following article. Read on to know more in detail.
Why Bitcoins Are So Popular? Here Are Points To Note
Bitcoins are extremely popular today and this has led to massive price fluctuations in the past few years. The original intention of the creator of Bitcoins was to create an anonymous peer-to-peer decentralized cash system that didn’t rely on any third party or central authority, but due to its current form, it has been widely used as an investment vehicle as well as means of payment on the web. Here are some points to note if you want to learn more about Bitcoins
Unlike most currencies, which are issued by central banks that incur costs to produce new notes and mint coins, bitcoins can be created without having to rely on a government. That means you don’t have to spend a penny when it comes to doing any transaction with Bitcoins.
Merchants may choose to pay a fee for accepting bitcoin transactions because it does not carry any inherent processing cost like credit cards do. However, these days many merchants accept bitcoin without any fee as well. For customers, it’s an easy way to save money when making purchases from over 100 million stores around the world that accept bitcoins as payment method.
1. No third-party interference
Once you own Bitcoin, no one can take it away from you. In some countries, inflation and volatile governments have led people to seek out alternatives like Bitcoin. When your money isn’t protected by a bank or government institution, it’s important to know that it’s secure from theft.
When it comes to Bitcoins, you don’t have to deal with any banking firm or credit card company to do the verification of transactions. The system is completely transparent – all transactions are viewable in real time on Blockchain, which is essentially a huge public ledger of all Bitcoin activity.
2. Complete anonymity
One of Bitcoin’s most attractive features is its ability to provide anonymity. The cryptocurrency allows users to transact and store money without having to deal with any personal information or credit card numbers.
This helps keep hackers out of your wallet since they won’t have access to any of your personal data, making it one of our favorite places to keep your cash. But there are some drawbacks with Bitcoins which every Bitcoin investor should be well aware of. Aside from a limited network, fraudulent transactions could lead to you losing your hard-earned money.
3. Lightning-speed transactions:
Bitcoin transactions take place instantly, in contrast to bank transfers that can take up to several days to complete. This makes it much easier and faster for customers to send funds anywhere in the world, no matter how big or small.
For example, if you’re a merchant selling products online, accepting bitcoins means you don’t have to wait days for your payment; you can immediately accept payments from anywhere on earth and transfer bitcoins into dollars (or any other currency) within minutes. That adds up to much lower transaction fees than traditional payment methods.
Final Words
The world has already got almost about 19 million existing Bitcoins. Would you not have the urge to get hold of one piece or fractional unit of such an item that would not be found in the future for long? Think about it, and you will automatically understand the reasons behind such a craze! So, what makes you wait? Invest in Bitcoins at Bitcoin Era today!
