What’s Bitcoin & Why Is Cryptocurrency So Popular?

Must Read Stories

Bitcoin has been the buzz word in the financial space. As of a matter of fact, Bitcoin has exploded the scene within the last several years and numerous folks and many big companies are now jumping on the Bitcoin or cryptocurrency bandwagon wanting a piece of the action.

Everyone is total a newcomer to the cryptocurrency space are constantly asking this question; “What is Bitcoin really?”

Well, for Hardware is in fact a digital currency that falls outside the control of any federal government, it is used worldwide, and may be utilized to buy things like your food, your beverages, real estate, cars, along with other things.

Why is Bitcoin so important?

Bitcoin is not susceptible to such things as governmental control and fluctuations in the in the international currencies. Bitcoin is backed by the full faith of (you) the individual and it’s strictly peer-to-peer.

This means anyone complete transactions with Bitcoin, the first thing they realize is it is lots less expensive to use than trying to send money from bank to bank or even using other services out there that calls for sending and receiving money internationally.

For example, if I needed to send money to let us say Japan or China I would have to have a incur of fee from a bank and it’d take hours or perhaps even days for that fee that money to get there.

If Bitcoin is used by me, I does it effortlessly from my wallet or my mobile phone or a computer instantaneously without any of those fees. If I was looking to send out for instance gold and silver it will require many guards it will take a great deal of time and a wide range of money to move bullion from point to point. Bitcoin can do it again with a touch of a finger.

Why do people want to use Bitcoin?

The big reason is because Bitcoin is the answer to these destabilized governments and situations where money isn’t as valuable it used to be. The money that we’ve right now; the paper fiat currency that’s in our wallets is worthless and a year from now it will be worth even less.

We’ve even seeing major companies showing interest in the blockchain technology. A couple of weeks ago, a survey went out to a handful of Amazon customers whether or not they would be thinking about utilizing a cryptocurrency if Amazon creates one. The results from that showed that many were very serious. Starbucks even hinted about the use of a blockchain mobile app. Walmart has even applied for a patent on a “smart package” that will utilize the blockchain technology to track and authenticate packages.

Throughout our lifetime we’ve seen many changes take place from the way we shop, the way we watch movies, the way we listen to music, read books, buy vehicles, look for homes, now how we spend banking and money. Cryptocurrency will be here to stay. In case you have not already, it is time for anyone to fully study cryptocurrency and discover the best way to make use of this trend that’s going to continue to thrive throughout time.

Leave a Reply

Your email address will not be published. Required fields are marked *