Cryptocurrencies continue to attract heated debates, with opposing and supporting sides holding strong opinions. Over the years, the currencies have proven that they are here to stay, overcoming significant hurdles along the way. Today, the currencies have hit the mainstream stage, with more brands embracing the trend and showcasing their relevance in the modern technology-driven world. While Bitcoin, the most sought-after crypto, is continuously used in the eCommerce proceedings, the interesting consideration is how users continue to see it as a worthy investment platform. If you’ve been wondering whether you should be investing in Bitcoin, you are not alone. Investing in Bitcoin is a hot topic, and here is why Bitcoin is still worth investing in, in 2020.
Before we jump in, what is Bitcoin?
Bitcoin has been in the market for over a decade now. Simply put, Bitcoin is a digital and global money system allowing users to transact (send and receive) across the internet, even with individuals they don’t know. The currency, invented by the group known as Satoshi Nakamoto, is a computer file stored in digital wallets. While Bitcoin continues to dominate the crypto platforms, there are other alternatives worth considering, including Libra, Ethereum, Ripple (XRP), Litecoin (LTC), Monero, and Tether (USDT), to mention a few.
What about the wallets?
Crypto wallets are devices, physical medium, or program that stores public/private keys. There are numerous wallets to choose from based on your preferences. For instance, if you are a mobile user, Mycelium is among the best options, Exodus is ideal for beginners, while Electrum best suits advanced users. There are other options, including Ledger Nano X and Trezor Model T, giving you the flexibility of choosing the most suitable option as per your situation. With the best Bitcoin exchange, you won’t have a hard time choosing an ideal solution that matches your unique needs.
Why is investing in Bitcoin still viable?
Bitcoin’s popularity continues to rise by the day, but that’s not all; its adoption across the globe is quickly growing. With emerging economies embracing crypto technology, you can comfortably invest in Bitcoin and enjoy significant returns. This can be attributed to tech accessibility, such as affordable smartphones, with virtually everyone being able to access the online world. As more people continue to flood the crypto world, Bitcoin is among the most promising investment opportunities you can comfortably access.
Bitcoin hits Wall Street
For years, among the notable factors that have slowed Bitcoin’s success rate is opposition from mainstream forces. As of 2019, Intercontinental Exchange (ICE) and Fidelity launched crypto trading offerings for investors. JPMorgan, another giant that had previously opposed crypto, has also seemingly changed their stance. This is especially with the announcement that they would be processing crypto transactions and offer banking services to some of the leading crypto exchanges in the U.S. Hitting such a milestone is quite promising, a consideration that gives investors much-needed confidence as they invest in Bitcoin. In the recent past, Bitcoin was seen as a risky investment with an uncertain future. Still, as it goes mainstream, it is evident that crypto won’t be exiting the market anytime in the foreseeable future.
Promising stock to flow
Do you know why commodities such as gold continue to be valuable investment opportunities? Because of their scarcity, and if Bitcoin’s progress holds, its stock to flow could eclipse that of gold by 2024, that is, following the next halving. Stock to flow quantifies a commodity’s scarcity, with stock representing the total supply in circulation and flow the amount of supply per year. Bitcoin has a fixed supply schedule, and if it holds, its scarcity will considerably factor while evaluating its investment value. The best part is that the open-source software can be accurately evaluated to measure its stock to flow, an additional edge that investors can leverage to determine if their quests are on track.
The thing with fiat money is that it takes a great deal of trust to offer valuable returns. You have to trust that the central bank won’t debase the currency. Yet, as time has proven over and over again, such trust is easily bleached. Fiat money inflation rates, especially with a significant push like global pandemics, make the investment quite volatile. With Bitcoin, such concerns won’t affect your investment with such momentum, giving you the peace of mind you deserve as you navigate the complex economies. As Bitcoin’s value proposition proves that it is perfectly designed to fit the macro-climate, it remains to be an ideal investment opportunity worth your time and money.
In the recent past, only a few people could access Bitcoin. Bitcoin’s access was hindered by a range of concerns from expensive tech needed to transact safely and the need for internet access. Today, Bitcoin’s accessibility globally is a lot more comfortable, facilitating investment from large to small sectors. What’s more, finding the best Bitcoin exchange is no longer such a hassle, facilitating investors’ quest to enter the market and flourish.
Security is no longer a significant threat, another advancement that has driven Bitcoin’s growth and making it a worthy investment consideration. The readily available Bitcoin wallets have kicked security a notch higher. Regardless of the investment opportunity you choose, unsavory folks will always target you, in this case, hackers, scammers, and thieves. However, with innovative measures designed to protect the users, investing in Bitcoin is a lot safer. With a range of wallets designed with unique needs in mind, it’s now safer to buy Bitcoin and supercharge your investment quests.
Are you ready to invest?
Obtaining Bitcoins is not that complicated. You can obtain them by buying from an exchange, accepting them as payment for goods/services, or mining. Buying and exchanging Bitcoin is quite straightforward, while mining, a go-to for most pros, is a little technical. Simply put, mining entails adding transaction records to the Bitcoin’s ledger (blockchain). The process aims at verifying each transaction, a maintenance approach that ensures users don’t re-spend coins or attempt other approaches that would jeopardize the currency.
Despite being in the market for over a decade, Bitcoin and other cryptocurrencies continue to generate hot topics. Nonetheless, they’ve proved to be more than a viable solution, especially as online transactions continue to shape the new tech-oriented world. With the best Bitcoin exchange, it is now easier and safer, facilitating users’ quest to buy and invest in promising the currencies.