You are likely reading this article after the latest Bitcoin value surge that saw it just shy the $20,000 mark. You are now looking for reasons to invest and learn more about this cryptocurrency and blockchain technology. Many people believe that the current price is too high and that people who still buy Bitcoin are simply jumping on the bandwagon. Although the currency is still young and has years of mining ahead, its value is still rising and it is a sound investment.
Blockchain
Blockchain is more than cryptocurrency. Blockchain is the future supply chain and fight against counterfeiting. Blockchain can automate the workings of an organisation and money transactions. Every day, bank robberies are committed and people are robbed. Blockchain and Bitcoin ensure that your digital wallet has a level of security that is higher than the virtual number that represents your cash at your local bank. Have you ever had a bad experience when you needed to send money overseas and were surprised at the fees for currency conversion, opening Letter of Credits or banking charges.
Did it make you cringe? All that is gone with Bitcoin. There is no bank system for cryptocurrencies. Sending money directly to the recipient will save you from paying excessive fees. Did we mention that you can send the money yourself? This saves time as you don’t have to fill out forms or applications. Simply ask for the public address of the receiver and then click the appropriate amount.
Limited Supply
The supply of Bitcoins is limited (only 21 million will ever ever be produced), so the currency’s value cannot be devalued. However, there is an increasing demand for it. It is also self-floating currency. This makes it a great investment. Remember the Greek financial crisis, when the central bank demanded that city councils hand over additional cash to the central banks.
Normal currency is owned by the central bank, not you. They can force you to return it to them. You are the only person who owns Bitcoin. You cannot force it to be yours. You can still invest in Bitcoin and Blockchain. However, it is impossible to predict the future. Before you commit to an investment, make sure to thoroughly review the charts on your preferred bitcoin exchange.