Bitcoin is changing the way we do business. It’s a digital form of money that can be converted instantly and securely from one form to another without the need for a middleman. The advantages of using Bitcoin have been well documented and I’ll outline just a few of them below.
The first reason to buy Bitcoin is to diversify your investment portfolio. Most financial institutions will encourage you to invest in the stock market and other traditional forms of investment by offering attractive rates. But with Bitcoin, you get a lot of the benefits of investing without having to tie up your money in a company or organization for long periods of time.
People are slowly beginning to realize that they can put their money in a safe way that offers tax advantages. There is no record of how long Bitcoin will last, but it seems that its value will appreciate, as the Internet and its technology continues to improve. Once it has reached a certain level, which is not an unreasonable expectation, you’ll be able to convert all of your profits to cash.
There are several reasons to get involved in this exciting technology. First, its value fluctuates according to how much people are willing to pay for it. If you think that you will make a good investment, you can sell your Bitcoins and cash in on the fluctuations in the market. While you might be losing money initially, you are able to recover most of your investment and possibly even double your money if the price appreciates.
Another benefit of Bitcoin is that it is very low risk investment. Its value might fluctuate but it is not subject to inflation. Even if the price is dropping at the moment, it will eventually recover and if it drops lower than what you paid for it, you will still make money. Also, you don’t have to deal with fluctuations in the exchange rate.
As far as transaction fees go, they are very low. At the time of writing, the average transaction fee is about 2.5%. Compare that to the average transaction fee in traditional financial markets, where a transaction fee could reach 50% or more. With Bitcoin, you get all of the convenience of transactions, without paying high transaction fees.
The second reason to buy Bitcoin is because of its use as a payment option. You can send money to anyone with the click of a button. You don’t have to wait for money transfers to complete; you can deposit your money immediately.
All transactions are secure, and the system does not make time money transfers slow. If your transfer takes too long, it is possible to see the transfer in progress, but you won’t know whether or not the transaction is going through. In fact, you won’t know until the transfer is complete.