After its launch in 2009, Bitcoin is gaining fame right now more than ever. It trailblazed a path that opened up to more cryptocurrencies. Bitcoin has its ups and downs through the years and it’s undeniable that it has a tainted reputation. Businessmen hate this for being the avenue for the black market. Illegal drugs, guns, scams, and more. So you’re asking now, why should I invest in Bitcoin?
A newbie would likely back off after reading my first paragraph. But like any other investment, Bitcoin has the other side of the coin. If you speculate well and use it in legal means-which is very important-you won’t have anything to worry about. Aside from the volatility that it can’t live without, Bitcoin is the next gold rush. Why? Here are some of the reasons:
1. Bitcoin is the new gold
Nothing beats physical gold in signifying bounty. But in these modern times, it might not be a practical choice. Experts see Bitcoin to be the next gold because of its soaring value and continuous trend. On the other hand, gold can also be like this, but governments have control over its production, distribution, and price.
Gold bugs are known for their penchant to own the precious metal. But analysts say that these individuals will be switching to Bitcoin soon. If ever these gold bugs will ditch their gold and invest to BTC, we’re foreseeing a large addition to the funds that will power the crypto. That will definitely make Bitcoin as the new gold rush!
2. Multi-million companies are serious about Bitcoin
If you think Bitcoin is a petty investment, you might want to reconsider as the likes of Microsoft, WordPress, Intuit, and PayPal accept BTC as a legitimate mode of payment. Why? Because Bitcoin is secure and it’s way convenient for users or subscribers than swiping their credit cards.
More and more mainstream companies are adopting BTC to their systems. Shopify also allows website owners to install plugins to start accepting Bitcoins. Such market openings are testaments to Bitcoin’s legitimacy. This is also the same reason why many exchange platform and wallet products sprung over the web. Bitcoin is reaching out more people and who knows, one day it can be a parallel currency.
3. The amount in circulation is limited
No matter what you do, Bitcoin will be at 21 million market cap. It’s scarcity entails security as investors and users won’t worry about overproduction. The limited number of BTC will also ensure price stability. Right now, there’s only 20% left of this number that hasn’t been extracted from the web. As the demand for Bitcoin grows, it will be harder to purchase units in the future. So why should I invest in Bitcoin? This is the reason!
There is no established proof, but there are rumors in the crypto world that countries’ central banks are starting to purchase it as “foreign currency reserves”. Even the banks can’t resist its value!
4. Every transaction is traceable
Those criminals think that they can easily get away with their acts because they won’t leave traces using Bitcoin. But little they know, they left not only crumbs but a detailed path of their every transaction in the blockchain.
Every transaction in BTC is recorded in a ledger-like internet setup. These include the identity and other information of the user. Though some can hide really well, the federal don’t take much time in figuring out their whereabouts. Ross Ulbricht, Trendon Shavers, and more criminals fell into hands on the FBI. These people along with other shady individuals think that they are hiding in the cloak of invisibility of Bitcoin. As you know, a little pressure from the FBI can put transaction records public.
5. Why should I invest in Bitcoin? It’s an easy payment scheme
If you have Bitcoins before, you’ll know how easy it is to pay using the cryptocurrency. You don’t have to invest or subscribe to a certain banking plan just to earn gains from it. BTC value can spike in a day without you doing anything.
Bitcoin is also available to anyone who wishes to buy units. No requirements needed, just a little bit of common sense. There’s also more financial privacy to Bitcoin and you won’t be compelled to sacrifice it.
BTC can settle transactions within 12 minutes. This might be slower than other cryptos and money transfers. But the catch here is that Bitcoin offers lower transaction fees regardless of what amount you’re going to pay or transfer.
6. Bitcoin is decentralized
No institution or bank can regulate the circulation of Bitcoins. This crypto has its own financial market on the web governed by users and investors’ trend. Since it’s decentralized, Bitcoin breaks the barrier of currency conversion and its value is the same anywhere in the world.
Bitcoin can’t also be shut down in force unless users and investors decide to ditch their assets. This is far from happening with the enthusiasm BTC is gaining nowadays. The government can’t step into enforcement except for the only move of banning it to their countries. This is a big deal if you’re investing large sums of money as it allows more flexibility in strategies. So why should I invest in Bitcoin? You got the answer!
7. It’s appreciating more than ever
A few months ago, Bitcoin is at the stable $2,000 mark. Who knows that by October it spiked up to $5,300? There’s so much promise about Bitcoin right now that the trend is relatively proving that the bubble myth is far from happening.
This appreciation is a good sign that investing will be a wise choice. Imagine if you bought units months ago in a $2,000 value, you’ll have double the price right now. With analysts forecasting a $10,000 mark in the future, you might want to start pumping up your investments now.
In 2013, Bitcoin recorded a 5,000% increase in value. There might be dumps from time to time, but BTC is regaining strength after recovering from its losses.
8. It’s foolproof
Why should I invest in Bitcoin if it’s not trustworthy? Contrary to the beliefs of many, Bitcoin is made to be fool-proof. It exists in a blockchain platform that records all the transaction so there will be a retrievable reference once an individual finds a suspicious act. However, it’s advisable that you practice proper caution as hackers can always find ways to get through your unguarded account.
Bitcoin is almost fool-proof except to the fact that it’s made by humans. It’s still subject to errors from time to time but in the most minimal incidents. Like other software and internet accounts, you should use security features like the two-factor authentication keys. You should also use hardware wallets to secure your addresses and keys.
9. Bitcoin is unstoppable
Eight years after its launch and we can’t see any sign that Bitcoin is ceasing. It just won’t. Forget about the bubble because you’ll just rack your brain over it the same way when you wait for the world to end in 2012. Here we are five years after and we’re still enjoying our lives with Bitcoins.
Market openings are continuous and adoption for BTC in small businesses is also speeding up. Why should I invest in Bitcoin? Even the poor can buy units the same way a rich human does.
Bill Gates already said it: nobody can stop Bitcoins. Not even Jamie Dimon or President Putin of Russia.
10. Financial freedom
Bitcoin’s value is ever-changing. It can be a stable $3,000 now, and it can be a whopping $6,000 in the future. Although this may be a bad thing for newbies who fear the dump, price fluctuations are good opportunities to make money. This is where financial freedom comes. If you have Bitcoin, there’s a big chance that you’ll earn gains by just having it. This is not the case with fiat currency as you’ll have to invest it.
But financial freedom, to be attained, needs a lot of intelligent speculating. The Bitcoin market is huge and you should be always in the loop to grab the opportunity.
11. It’s very divisible
Bitcoin can be divided in as small as 0.0000001 BTC fraction. This doesn’t have substantial value in dollars, but its divisibility is an advantage in the spending users. Day by day transactions won’t always be worth $10 or $20. Bitcoin allows you to transact easily without fearing the cost of extra fees. If you’re still asking yourself why should I invest in Bitcoin, this is the answer.
If you have gold or legal tender, it would be hard to achieve this. Cutting off gold in tiny bits is almost impossible and the gold dust might just perish in the air in one sneeze. Though I won’t deny the value of gold, Bitcoin definitely has an edge.
12. More and more people are investing on it
Studies found that Bitcoin is the “most crowded trade” of the year. But this isn’t a bad thing at all. Having many people on the other side can result in higher prices and a more positive trend. Some NASDAQ overcrowded trades also do well in the past months and observed a spike in sales.
With more people trusting Bitcoin as an investment, the future is gleaming with positive results. Lately, Bitcoin price was hit by the Chinese regulation but I’m pretty sure that it will be recovering soon. It does every time dumps happen because Bitcoin is one hell of a fighting cryptocurrency.
Why should I invest in Bitcoin? I think I said it enough. Through the years Bitcoin has ruled the web currency and I’m pretty sure that it’s going to be the next gold rush among investors. The prices are spiking and there’s no better time to invest than now. Are you planning to invest? Tell it to us in the comment section!