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Are you wondering why you need Bitcoin? If yes, here are reasons to convince you to purchase and hold onto this virtual currency.
While some people have used Bitcoin for over a decade now, some people don’t know much about it. Like the internet, Bitcoin is a brand that’s creating a lot of excitement and confusion in the world. Some mainstream establishments are indifferent and hostile towards this cryptocurrency.
But, this is understandable because even some people said they didn’t need an email back in the 1990s. At the same time, some people didn’t know what an email was. Later, people realized the importance and benefits of having an email address.
Today, some people don’t understand the benefits of Bitcoin and other virtual currencies. On the other hand, some individuals argue that investing in Bitcoin can be a life-changing move due to its consistently rising value. Here’s why you need Bitcoin or why you should purchase and hold onto this virtual currency.
Rising Bitcoin Value
Since its introduction, Bitcoin has been increasing its value. The world will only have 21 million tokens. And people will lose some of these tokens forever as they lose their wallets or keys. And this was also the case for the Roman gold coins. If this virtual currency could be worth half of this gold, its value would be around $200,000 a token. If the world had Bitcoin worth $1 trillion, its price would exceed $50,000.
By taking advantage of Bitcoin’s price fluctuation, you can use platforms like Bitcoin Pro to invest in this virtual currency with a small amount of your savings. Such platforms allow you to purchase Bitcoin using fiat money. After registering, a successful ethereum trader can make you a crypto trader as long as you have some money to invest in this virtual currency.
Blockchain Potential
Experts have said that blockchain, the technology behind Bitcoin, could be the next big thing. And for you to catch the wave once it lands, now is the time to learn about it. Purchasing crazes with zero knowledge can lead you to poverty. Owning Bitcoin with knowledge of the technology behind it will position you for the moment of the crypto IPO. And this day will eventually come. With knowledge of the blockchain and Bitcoin ownership, you will stand to benefit from this boom.
Using Bitcoin for Portfolio Diversification
Initially, everybody wanted to have some gold to buffer the other financial instruments’ roller coaster. Gold and Bitcoin are similar because they serve as havens. However, you can store gold and sell it faster. Also, it has a more significant upside when laying in your assets for something that seems highly volatile. Bitcoin can play the same role as gold, only that it’s virtual. Even better, you can travel with your Bitcoin without risking because somebody can easily steal your gold bars, which isn’t the case for Bitcoin.
Using Bitcoin as a Hedge for Equities
Currently, equities’ awful news is Bitcoin’s good news. For instance, the China trade war is bad news for equities with a clear link moving Bitcoin and emerging bad/good news on trade negotiations. Once Bitcoin sends a signal, the news will appear due to the insider flow of news in crypto-hungry China.
Bitcoin as an Exchange Medium
People are using Bitcoin to purchase things. Like MasterCard or Visa, people use Bitcoin to buy items and pay for services the world over. For some people, Bitcoin enables them to save when sending funds across borders. That’s because they don’t have to pay any intermediaries to transfer funds. What’s more, Bitcoin is more efficient and suitable for completing large transactions.
Final Thoughts
Everybody needs Bitcoin now, no matter how little. That’s because the mainstream adoption and usage of this virtual currency mean it might eventually become a tremendous financial phenomenon. And now is the time to purchase and hold onto this virtual currency before it’s too late.
