There are a lot of crypto currencies new and old but Bitcoin has become the stronghold of them all. It might fall sometimes but it always go up as people tend to prefer it more to fiat money and newly introduced crypto coins as some of them don’t make it to the end and they will suffer still birth.
There are some advantages which make bitcoin the best and without doubt almost every merchants which accepts crypto currency as method of payment prefer bitcoin as their main.
What are those advantages?
- Can be traced
- Cannot be hacked
- It is popular
- Random addresses
Can be traced. All bitcoin transactions are found on the blockchain which is the public LEDGER , at first you could not trace the transactions but now you can do so as there are software’s which can trace and with this the crime rate will be low as people were now abusing it. The use of hash code or the transaction id can also help to confirm if a transaction has been made.
Cannot be hacked. The cryptographic algorithm used on the creation of the blockchain makes it impossible to attack so bitcoin cannot be stolen on the blockchain but what can happen is hackers can hack your wallet or an exchanger as steal bitcoin.
Popular. Its popularity makes it the most favorite coins to accept as a payment method because it’s already tried and tested people believe in it. For new crypto coins it will take time for them to be accepted as payment methods as people will always be skeptical.
Random addresses. You have an option to use new address on each transaction if you wish as this will always maintain your anonymity and privacy but you can use the same address over and over it doesn’t matter but being able to change is best.
Reason to invest in bitcoin
Considering all these factors, we all know that price is driven by supply and demand so if bitcoin is adopted worldwide and is used for transactions then it’s obvious it will soon be on demand and supply will be low then its price will rise, there is a high possibility that bitcoin can surpass the $50,000 mark per each bitcoin.
You can save up more time if you transact with bitcoin as compared to fiat currencies as you are required to do some paperwork by the bank and the amount you can transact is always limited but with bitcoin that is a thing of the past.
You can spend some few dollars and then just live it so a few years and then check letter you will be surprised because bitcoin is now the revolutionary crypto currency and it is now its reign.
