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What is Bitcoin & Why is Cryptocurrency So Popular?

Bitcoin has been the buzz word in the financial space. As of a matter of fact, Bitcoin has exploded the scene within the last few few years and many people and many goldshell kd5 large companies are now jumping on the Bitcoin or cryptocurrency bandwagon wanting a piece of the action.

People are total new to the cryptocurrency space are constantly asking this question; “What is Bitcoin really? inches

Well, for starters bitcoin is actually a digital currency that falls not in the control of any federal, it’s used worldwide, and can be used to purchase things like your meals, your refreshments, real estate, cars, and other things.

Why is Bitcoin so important?

Bitcoin isn’t susceptible to things like governmental control and imbalances in the in the foreign currencies. Bitcoin is backed by the full faith of (you) the individual and it’s strictly peer-to-peer.

This means anyone complete transactions with Bitcoin, the first thing they realize is that it’s a lot cheaper to use than trying to send money from bank to bank or using any other services out there that will require sending and receiving money internationally.

For example, if i wanted to send money to let’s say China or Japan I it is fair to have a incur of fee from a bank and it would take hours or even days for that fee that money to get there.

If i use Bitcoin, I can do it easily from my wallet or my cell phone or a computer instantly without any of those fees. If i wanted to send for example gold and silver it would require many guards it would take a lot of time and much of money to move bullion from point out point. Bitcoin can do it again with some a finger.

Why do people want to use Bitcoin?

The main reason is really because Bitcoin is the answer to these destabilized governments and situations where money is no longer as valuable it used to be. The money that we have now; the paper fiat currency that’s in our accessories is worthless and a year from now it’ll be worth even less.

We’ve even seeing major companies showing interest in the blockchain technology. A few weeks ago, a survey went down to a handful of Amazon customers if they would be interested in using a cryptocurrency if Amazon creates one. The results from that showed that many were very interested. Starbucks even hinted about the use of a blockchain mobile request. Walmart has even sent applications for a patent on a “smart package” that will utilize the blockchain technology to track and authenticate packages.

Throughout our lifetime we’ve seen many changes take place from the way we shop, the way we watch movies, the way we listen to music, read books, buy cars, look for homes, now how we spend cash and banking. Cryptocurrency is here to stay. If you haven’t already, it’s time for anyone to totally study cryptocurrency and learn how to make best use of this trend that is going to continue to prosper throughout time.

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