August 16th, 2018
Ever since Bitcoin price touched $20,000 mark it seems to have skyrocketed in many places across the globe. The trend to buy bitcoin is constantly increasing with many new cities coming up with Bitcoin ATMS to help digital currency users. Online exchanges like Bitcoin of America are making it easy to trade digital currencies since Bitcoin is here to stay Here’s why:
Completely a different concept
Many are still unaware why Bitcoin is taking the world by storm and new Bitcoin ATMs are coming popping up in major cities. Bitcoin is a new concept which is different from traditional fiat currency. The result is that the price of one Bitcoin today has risen to almost three times that what it was at the start of the year. There are concerns about a cryptocurrency bubble, but many investors have seen success and upward movement until this point by avoiding the panic and sitting tight with their digital currency investments hence the term HODL.
Bitcoin is a decentralized currency system which is not controlled by the government or any single entity. Thus there are multiple ways for cost reduction. In the future, users will be investing some amount in the crypto cash and everyone will possess the digital wallets. Right now, there are different and secured digital wallets and these will gain popularity. There are countries like China and Japan who wanted to be the first governments who are entirely working on the cryptocurrency. Recently many consumers are buying Bitcoin more frequently. This clearly shows how this currency is gaining popularity with time.
Is falling price a concern?
There are many cases where the value of the Bitcoin has dropped multiple times. But again, it has come back to the original position because of its popularity. On the other hand, other digital currencies such as Ethereum have a wide array of applications to help consumers aside from investment. The rise of interest in Ethereum is growing as well.
Among all digital currencies, lthe eading cryptocurrency is Bitcoin as it is having a lot of market share, user base and popularity. There are many cryptocurrencies that are becoming more popular however, there are only few which will be able to withstand to the competition in the market. More and more people buy Bitcoin but now interest is peaking in other currencies. There are a few digital currencies which are used for transactions and business and others such as Ethereum and Ripple that are helpful for the enterprise solutions.
What’s unique about Bitcoin?
The digital nature associated with Bitcoin as well as its universality makes it more difficult to keep track of it in cross-country purchases and sales. In many countries initiatives have been taken by law enforcement authorities to regulate Bitcoin. Initially there was a lot of negative press written about Bitcoins, but now people have started realizing the benefits. Bitcoin ATMs in major cities are getting huge response; users are lining up to buy Bitcoins every day.
For many years ahead, Bitcoin is going to be the best price model when it comes to the cryptocurrency. There is a great belief for the Bitcoin enthusiants about the future of the Bitcoin, as Bitcoin is helpful in changing the phase of the industries and business. This cryptocurrency will also help the governments to works in the most efficient and transparent manner. There are many entrepreneurs who are working on the blockchain and the Bitcoin to make the transactions more flexible and transparent. Overall, the benefits of Bitcoin are becoming more well known throughout the digital currency community.