Four Obvious Reasons Why Bitcoin Is The Best

Bitcoin has just passed the $2,000 this month to surpass the value of every other currency issued by any central bank. All in all the world’s first digital currency has already grown a whopping total of 125% for the year 2016. If you’re ever wondering why a digital currency is able to beat fiat currencies, it’s because of the simple yet giant advantages it offers.

Safe Haven

More and more people is seeing bitcoin as a safehaven because it is mostly unaffected by geopolitical events and global instability. This use of bitcoin has been increasingly prominent in 2016 with many financial struggles boosting bitcoin. The coup in Turkey, the financial scandal in Malaysia, and the rendering of 500 and 1000 notes in India all helped bitcoin get more users last year. The ability to be unaffected by these kinds of things make bitcoin highly appealing for people who look for consistency.

Affordable

While both bitcoin and cards can seem equal in being instantaneous, an advantage of bitcoin is that it is cheaper to transact than cards and any payment service for that matter. Card companies have a swipe fee and some of the merchants actively add a service fee for card usage on the total bill. This complicated fees are the reason why more and more people are attracted to digital currencies which have little to no fees.

Anonymous

Perhaps the most polarizing issue with bitcoin is the anonymity it offers. For many, this feature is a double-edged sword. People have the right to privacy but governments and other authorities are afraid that this will encourage criminal activity and terrorism funding activities. Still, more users see it as an advantage. No one would know who purchased what. It’s a public ledger without the risk of identity.

Quick

The most obvious reason why bitcoin is simply the best is because it is efficient. Banks can take days to process transactions while international wire transfers can take hours to come through. This is because these financial institutions generally have to go through several validations before payments can be verified. In the case of bitcoin, there is this thing called “zero-confirmation” transactions. This means that service is done in an instant. A lot of people find this feature simply amazing.

Bitcoin continues to climb in value and it is likely that it will continue doing so. Consider your options and see if bitcoin has a place in your assets.