It won’t be wrong to say that Bitcoin has been serving as the ideal cryptocurrency for the last decade. During this time span, a number of altcoins have come into existence, but none of them could stand in front of bitcoin for any long. It’s no more an ordinary coin but Bitcoin Digital is a leader, ruling the crypto sector with all grace and glamour. The recent years have undoubtedly been the roller coaster for Bitcoin, considering its multiple spikes in price value and other influences.
From its skyrocketing prices to incredible hype over the internet, Bitcoin has finally achieved its long-lived success and can undoubtedly be called a safe haven asset. The cryptocurrency market has witnessed Bitcoin surging more than ever before in its history with the remarkable trillion-dollar marketization. From startups to exchanges, nearly everyone today has the desire to make profits from Bitcoin.
The pandemic was definitely a major eye-opener for the crypto sector because bitcoin continued to rise despite the massive economic turmoil all around the world. The reason behind this is the stability of bitcoin, which comes from its well-known decentralization that makes Bitcoin independent of every external factor.
Having said that, here are a number of ways why bitcoin is your go-to cryptocurrency for making real money in the highly competitive crypto market.
1. Market capitalization:
Bitcoin today makes up to 69% of the whole crypto market in terms of market capitalization and individual price value both. Being titled the trillion-dollar cryptocurrency, Bitcoin has experienced a massive increase in fan following. This swift increase in Bitcoin price value has also influenced the major economies ruling today. Needless to say how the trillion-dollar bitcoin has once again attracted individual investors and companies by its high price.
A famous crypto exchange, Coin Switch Kuber, has raised about $15 million worth of bitcoin, which was further followed by companies like Tesla and Microsoft. Except for Bitcoin, there’s no other cryptocurrency that can influence the market cap of the whole cryptocurrency market. The $1 trillion marks of Bitcoin also fueled the price values of other smaller altcoins, including Ethereum and Ripple. Being such a popular as well as expensive cryptocurrency, your decision of investing in bitcoin can never go wrong if you’re in favor of making good money in one or two strokes.
Today, times have changed. Bitcoin is again in the limelight, with governments paying enough focus and efforts in making the most efficient rules and regulations to use bitcoin. Being the first player in the market, everything that launches is first experimented on Bitcoin due to its high volatility and working on the decentralized blockchain network. This decentralization means that no official authority or third party has the allowance to interfere in Bitcoin’s safe, secure and efficient working mechanism.
However, today bitcoin has changed the outline as governments have shown immense interest in the revenue produced by this trillion-dollar cryptocurrency. Today, not only have the governments of several continents accepted Bitcoin but also supports its use in a different part of the world. It means Bitcoin is no longer supposed to be screened under the papers but can be openly used to make money as any other asset.
To use bitcoin, all you need is approval from the government and pay a certain amount of tax from the overall profit share of your bitcoin. In short, bitcoin is now officially considered a safe, secure, and legalized way to make money by complying with the government laws and keeping data confidential.
3. Excellent store of value:
As said earlier, Bitcoin today serves as an excellent store of value to hold real money in the safest form available. Despite its high volatility and inflation, Bitcoin can hold your money without asking you to pay regular interest on them like moneylending. In addition, bitcoin also proves to be an ideal way of making cross-border payments without paying hefty amounts to multiple third parties in between.
When using the blockchain, you’re promised a safe, secure, direct, and efficient transaction without mishaps. Due to this incentive, numerous large-scale public companies have accepted bitcoin and allowed their customers to make transactions in the form of bitcoin. Without a doubt, Bitcoin is your go-to solution if you want to have your real cash in the best form with getting capital gains from holding this asset in any bitcoin wallet.
4. Easy Accessible:
Before cryptocurrencies, very few investments were easily accessible to people, including all age groups and diversified backgrounds. Being a great store of value and safe mode of exchange, everyone wants to access bitcoin in the best way possible. To use bitcoin, you don’t need to run into hectic paperwork or dig a hole in your pocket for paying fees but simply choose a good bitcoin exchange and buy your bitcoin at the most competitive price.
Besides, bitcoin is also a legalized payment method which means anyone can make payments to friends, family, business, or anyone without paying commission to the middle party. Either you use it to make transactions, trade, or hold it for a certain period; there are hundreds of ways to explore for making profits from bitcoin convenience.
5. High potential bitcoin:
We can’t strengthen more on the instability of the highly competitive and utmost volatile cryptocurrency market. It’s like a gas-filled balloon high in the sky that can burst anytime due to several reasons. You might be having the best time with your moderate-priced altcoins today, but who knows if you would not see it on the cryptocurrency list the next day.
That’s how the devaluation of cryptocurrency occurs. Among all the altcoins present at the time of writing, no one can match the smoothness, efficiency, and security of using Bitcoin. It has the highest potential of all time and predictions that will soon spike Bitcoin more in price value and popularity.
It won’t be wrong to say that Bitcoin has driven the crypto world crazy by influencing other altcoins to a great extent. Every other day, we see a new bitcoin expert who not only mastered the art of using Bitcoin but also proves its credibility and never-ending potential in the crypto sector. Whether you’re someone who has owned bitcoin for the first time or a dedicated bitcoin user, it’s high time you choose a go-to cryptocurrency like Bitcoin that will rise in the future.