Even though Bitcoin is very popular these days, we can say that people know so little about it. We can compare this brand to the invention of the internet in the late nineties. When we say this, we mean the excitement that was present in the public. Again, like the invention of the internet, the invention of Bitcoin was surrounded with some hostility when it comes to establishments and mainstream. Also, we can compare this situation with some other inventions is the past. For example, a lot of people were reluctant to use email when it was introduced to the public. Today, we cannot imagine the business and personal relationships without it.
The next one, even though it was somewhat different, was the invention of social media. Because of its nature, people were a little less skeptical about it. However, it had some elements that were not welcomed by all people at first. Ironically, the invention of social media opened the floodgate the mainstream to all of the technical innovations that appeared after it. Naturally, that didn’t happen at once. People needed some time to get used to it before they completely acknowledged its benefits. Today, we can say that a huge percentage of humankind recognized all the benefits of this approach.
Anyway, we are here to talk about Bitcoins. When it comes to the benefits of the cryptocurrencies, we can say that they are not fully understood. As you can presume, digital currencies can have an impact so strong that they can change the way business is done completely. We are pretty certain that the vast majority of people don’t understand the importance of them. One of the things that can change the whole lives of some people is that its value is constantly changing. This means that some of the investors can significantly increase their wealth in times when the value of the digital currencies is going up.
Since it was introduced to the public in 2009, Bitcoin made some people very rich. Also, it ruined some fortunes in the process. It helped book publishers to sell a significant number of cryptocurrency-related books and other material related to the topic. A small percentage of the people immediately recognized once-in-a-lifetime chance to change their lives for good. On the other hand, the vast majority of people were pretty skeptical about the whole concept. We can imagine what was a public opinion about credit cards at the time they were introduced to the public.
However, there are some improvements that give us hope that more people will accept Bitcoin in the future.
Some people even started creating Bitcoin communities that are providing them with additional things that need to be known, especially about predictions, buying and selling digital currencies. If you are interested in learning a little more about it, you should definitely check out bitcoineras.com. Moreover, a high percentage of the public is still uncertain about using Bitcoin and they are wondering why do we even need them. Well, we are going to provide you, our reader, with several reasons why do we need them and why you should hold on to them, in case you have them.
Blockchain is the Future
If you are a person that likes to catch the trains, or waves, when they land, you need to have certain information about them before you go abroad. Taking a ride on the train you don’t have any knowledge about, you are on the shortcut to losing everything you got, in some cases. When it comes to Bitcoin and digital currencies, you need to start from scratch, literally. Before you start trading in Bitcoin, having at least basic knowledge is a must. When it comes to the future, all of the predictions and trends are showing that the blockchain system is a thing that can’t be avoided in the future. When that happens, having some digital currencies in your e-wallets is going to be a huge advantage.
Portfolio Diversification
Throughout history, it was always useful to have some gold coins with you. That way you could avoid all the rollercoasters of the financial systems. Gold and Bitcoin can be compared in this term. As you probably know, digital currencies are totally independent of financial and banking systems. In addition, you can trade with them and stay anonymous at the same time. This can prove very useful especially in volatile times like financial system crashes, like the ones that happened in 1929 and 2008.
You can stay independent and protected from all of the outside influences. The number of businesses that are accepting digital currencies as a legitimate paying method is increasing every year. The final argument for digital currencies in this part of the article is that storing and carrying Bitcoins with you all the time is much easier than carrying large amounts of money. It is both easier and safer.
Bitcoin is a Useful Currency
As we said in the previous part of the article, Bitcoin is accepted as a legitimate payment method by a high number of businesses. This number is only going to increase in the future. Only a miracle could prevent this trend from continuing. You can think of it as Bitcoins could totally replace credit cards. On the other hand, Bitcoin transactions are much safer and faster than usual bank transactions. Furthermore, you can remain completely anonymous. You can see that your privacy can remain untouched with these.
The pace of digital currency transactions is especially important when you are transferring large amounts of money. Usual, bank transactions of these amounts of money can even take several days to complete all of the needed elements. On a higher level, we can expect that even some of the countries could accept Bitcoin as a regular payment method in the future. Last year, we witnessed that Belarus was the first country that completely legalized digital currencies and made them nontaxable from the next five years. What will happen in the future remains to be seen?
