Whether you choose to pay with credit or debit card, or make an electronic fund transfer, you very much require proceeding through a proprietary network for passing all account credentials between merchants and financiers. For your information, these networks are basically owned and run by many financial institutions such as banks, payment processors, etc. Troubles arise, when server goes down or an incompatibility issue occurs between different networks. Using a private network has always been costly for an average earner, resulting in the rise of Bitcoin. Setting ripples in the markets since its launch, Bitcoin of all Crypto coins has had the investors bid for it wildly and across the globe. Despite being in the financial vogue for these eight long years, a majority is still in wonder ‘what bitcoin is and how it works.’
Here’s a glimpse
Crypto currencies have quite been a hit ever since. Bitcoin amongst many other digital currencies including Litecoin, Namecoin, Swiftcoin, Peercoin etc. accounts for the largest market cap, i.e. approximate $122 billion of $185 billion (65.94%).
Now, it’s pretty much natural for any freshman to go baffled at such an experienced statement. Unless you get the simple definition, you can’t get expert. Bitcoin is a digital currency, first launched in the year 2009. Having no physical actuality or even any traceable private accounts online, Bitcoin’s significant rise over this short span of time has left many bankers, economists and financial specialists dazed and inquisitive about it. The skeptics say that it’s no real money and investing in it will have you pay some day.
You can buy bitcoin and keep it safe to your untraceable BTC account online for later use and investments. Whether you are dealing with Dollars, Rubles, Sterling Pounds or Yens, Bitcoin is exchangeable with all currencies and worldwide. For instance: at the time of writing this piece, 1 Bitcoin = $7352.18, and it’s steadily increasing in value. Yes, you have read it right. Volatility is the main draw behind such a fast growing Bitcoin investors’ base. The price of Bitcoin is always surging up, and it currently accounts for the largest market share of digital currencies in 2017.
If we now reel a few years back, Bitcoin use was limited to only exchanges, but not anymore. The constraints have been pulled out and today, it is even accepted as a payment type on several e-commerce sites, such as Amazon, Overstock.com, Expedia and at the same time, by brick and mortar stores. Gaining popularity daily amongst retailers and investors worldwide, this digital currency enjoys 17 – 21 million circulation supplies as of today. It’s pretty much substantial and compelling—and that’s why, today, you’ll find many exchanges and crypto brokers becoming active.
Reasons behind such a phenomenal upsurge
- Unlike the high-street banks or any other independent money transfer agency, purchases and transfers are significantly cheaper, plus quicker with bitcoin. Paying a littlest amount as exchange fee, the money reaches the beneficiary within 15 minutes, which is quite unlike in other electronic payment modes.
- Bitcoin comes with several investment activities. For its value being completely self-regulating of the dollar, the value of Bitcoin not only rises in a healthy economy, but in the face of poor economy too. Apart from this, if you are dealing-in real estate, chances are that you may see a decent increase in your portfolio as Bitcoin has potential to go high during weak economy as investors turn to it to escape others, the dependent investments.
- As the investors and profit-makers believe, Bitcoin is a decisive investment vehicle. Its value is never dependent upon the dollar’s ups and downs, or on the strength of market economy. It can always secure your investment, providing a stronger hedge against loss than gold. If you happen to be one, looking for something new and different to invest in, buy bitcoins today for use at the right moment to re-invest.
- Bitcoin is the perfect medium for investors to access profitable investment opportunities, which was not possible prior to bitcoin phenomenon.
Unveiling Bitcoin Profit Opportunities
Unlike many other Crypto currencies like bitcoin, ethereum, and litecoin running in the marketplace, Bitcoin has emerged as groundbreaking vision of decentralized and perpetual movement of value, entirely free from any sort of control or authority. This is exactly where, discussing its profit opportunities becomes difficult with all its special characteristics nourished and upheld.
Before concluding, it’s better to compile the story in a nutshell. So, here come the benefits coupled with risks of investing in Bitcoin –
- The inflation risk is never high.
- The risk of collapse is almost nil.
- It’s cheap, safe and faster than other conventional payments.
- BTC accounts, to your surprise, are untraceable.
Risk factors are as follows:
- Bitcoin, being volatile, is a draw at the same time a risk factor.
- It is a bit difficult to buy stuff with Bitcoin. For example – a few countable online retailers accept Bitcoin payment type but it has been constantly increasing it’s acceptance in general. For example there has been rumours that Amazon might take it as official payment method in their webshop.
- Relatively difficult to trade: You just can’t use your credit card and buy bitcoins in many places. There are only a few exchanges that provide bitcoin purchase facilities and usually you have to first wire transfer money. Besides some of exchanges has been full or partly fraud. There is also a couple trusted ones.
- It’s still too new to believe right off the bat.