Why You Should Own Bitcoins :- Bitcoins have recently made headlines. According to Tim Draper, Tim Draper identifies them as opening up an arena that will spark similar revolutions to what personal computers did during the 1970s or the Internet did during the 90s. In this post I will provide 10 reasons why Bitcoin ownership may be beneficial:
Why You Should Own Bitcoin
1. No Single Entity Has Control Over Bitcoins.
Bitcoin was created in 2009 by Satoshi Nakamoto, a software engineer. No single entity controls bitcoins; therefore neither governments nor central banks have authority over them.
2. Fees Are Lower Than For Other Standard Internet Payments.
Bitcoin has virtually no fees attached, while most apps and services created around its ecosystem and used by end users have lower costs than traditional online payment options.
3. It Is The Largest Cryptocurrency Available.
There are currently several cryptocurrencies available online, but by far Bitcoins have gained the greatest user acceptance and market capitalization.
4. Europe Just Regulated It As A Vat-free Item.
Europe recently passed legislation classifying Bitcoins as commodities and thus exempted from VAT, creating legal and tax-free status across Europe. This move should spur more demand for the digital asset.
5.High Volatility In The Stock Market Might Boost The Price Of Bitcoin.
2015 has been an extremely turbulent year for global equity markets. Stock markets around the globe have experienced dramatic swings. Bitcoin has gained popularity as an alternative way of storing value during this turbulent market environment; many view it as gold replacement; market instability can cause investors to invest more funds into this form of currency than others. We expect more instability over the coming months.
6. More And More Businesses Are Developing Tools For The Bitcoin Ecosystem.
Venture capitalists have invested hundreds of millions of dollars into the Bitcoin ecosystem. Consumers without technical skills now have access to services and applications that empower them. As more products enter this ecosystem, acceptance and demand will grow for Bitcoins.
7. To Avoid A Bank Run (Think Greece Or Argentina)
Ever heard of “bank runs?” Argentina and Greece have also witnessed them recently, prompting people to panic when bank runs occur. Bitcoin may provide an effective alternative way of keeping funds outside the traditional banking system without panicking when bank runs occur.
8. In Few Month, There Will Be An Upward Trend.
What we know about Bitcoins is their extreme volatility. In 2015, it appeared as though they might reach some sort of price plateau – only for it to rebound back after October’s slump and continue moving in an upward trajectory towards $600 per Bitcoin and then decline again before eventually stabilizing in 2016. However, 2016 may bring more stability as Bitcoin’s value begins to stabilize again.
9. The Most Secure Method Of Internet Payment
Since there are so many payment processing companies offering products to end customers, the bitcoin protocol offers one of the safest ways to complete online payments – making bitcoin one of the safest options.
10. Being An Early Adopter Of The Revolutionary Blockchain Technology
Bitcoins’ most impressive aspect lies not in their cryptocurrency status (known as cryptocurrency), but in their blockchain network – simply put, this means a distributed database with various uses across industries and communities. Adopting bitcoin technology early can change lives drastically!