Can Bitcoin become the 21st Century gold? (press release)
Satoshi Nakamoto launched Bitcoin in 2009, and in the thirteen years it has been around, it has worked as a better alternative to fiat currency. Also, there is an increase in the adoption rate of this virtual currency. More and more systems are incorporating a Bitcoin payment system, giving Bitcoin users a place to spend their virtual money.
Also, the way people invest and make payments is changing, and traditional banking fiat currency may not be able to catch up. So, here are a few reasons to believe this virtual currency can become the 21st Century currency. If you are interested in trading Bitcoin, you may consider using Quantum Code Software as your trading platform.
Better Liquidity and Portability
Bitcoin is the most liquid cryptocurrency and offers better liquidity than conventional currency. In addition, transacting with traditional currencies takes a few days, if not three. However, conventional money transfers take longer, especially during the holidays and weekends, because banks remain closed during that period.
On the contrary, Bitcoin transactions are faster than fiat currency transactions since they take minutes to complete. More so, Bitcoin is a digital currency that is easily portable. With your smartphone and access to some internet connection, you can transact this digital currency successfully via reputable exchanges. Many believe this virtual currency is the future gold due to its liquidity and ease of transacting.
Better Fraud Proof
This virtual money has an inbuilt technology, the blockchain, a distributed public ledger that records all Bitcoin transactions and helps validate transactions. In the end, these virtual money transactions are entirely transparent. Hence people cannot interfere with the system. Also, this digital currency uses the proof of work consensus process to ensure that all the transactions are visible, shared, and stored in the Bitcoin network.
On the other hand, traditional transactions involve a lot of intermediaries, which results in fiat currency transactions not being secure and transparent. This digital currency offers security against theft and fraud without third parties in these virtual money transactions.
As the first successful cryptocurrency, Bitcoin is easy to find, buy and use. Despite this digital currency using blockchain, a very complex technology, one is only required to trade, buy and invest in this digital money rather than trying to understand what blockchain is.
Few genuine exchanges help you to trade and purchase this digital currency. However, you should research and understand this digital currency without investing blindly. This virtual money is a risky investment that needs careful research.
Ease of Global Transactions
When you get hold of this digital money, you are not limited to transacting in your country only, but you can also transact globally. This virtual currency is the same globally, so you do not have to worry about exchange rate fees. In other words, transacting using this virtual currency will be simple whether you send funds to a recipient across the street or the globe. Ultimately, the ease of completing global transactions is another reason this digital money is the 21st Century digital gold.
Bitcoin is an Unstoppable Trend
Finally, when you purchase this digital currency, you become a part of something huge. Bitcoin is an invention that is here to stay and has survived a few significant waves, including attempts to get banned. You are always left out if you choose not to invest or purchase this virtual currency. Therefore, this digital currency being an unstoppable trend is another reason it is the future of gold.
Above are the most compelling reasons this digital money can become 21st-century gold. Also, this digital currency is more trustworthy than banks. That is why many consider it a 21st-century gold.
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