Itâs all well and good, but why bother with crypto at all? Why would one convert USD to BTC? Well, there are a lot of good reasons to exchange at least some of your trusty bucks for Bitcoin. Weâll list only the major ones:
Bitcoin does not belong to anyone, but to everyone
There is no âowner of all Bitcoinâ. It is completely decentralized. So there is no risk of someoneâs singular decision screwing up the entire currency. Thus, Bitcoin does not depend on the whims of politicians. Unlike USD.
Bitcoin is easy to keep secure
Unlike fiat money, BTCs are much easier to keep secure. Basically, if you handle your cryptocurrency correctly - with care and common sense - no one can steal you digital coins.
Bitcoin benefits e-commerce
BTC is safer than ânormalâ e-money not only for ordinary users, but also for online payment platforms - there is no risk of double spending exploits, which are quite harmful for online commerce.
Bitcoin speeds up money transfers
Bitcoin is not the fastest crypto out there, but it is much, much faster, than bank transfers. At least when we are talking about international transfers and\or large amounts. Blockchain doesnât care about borders and works the same whether you transfer the equivalent of $1 or $100,000.
Bitcoin is not the fastest crypto out there, but it is much, much faster, than bank transfers. At least when we are talking about international transfers and\or large amounts. Blockchain doesnât care about borders and works the same whether you transfer the equivalent of $1 or $100,000.â
Bitcoin transactions are cheap
It doesnât matter how large your transaction is - the fee stays almost the same. So for large amounts Bitcoin is much cheaper than any bank transfer..
The global demand for Bitcoin grows
Given all of the above, it is obvious why Bitcoin is in high demand. Of course, sometimes Bitcoin suffers from sharp drops in price and demand goes down for a while as well, but in the long run - its growth is pretty impressive.
There will be only 21 million BTC
Unlike fiat currencies, the amount of Bitcoins that will ever exist is finite - 21 million. And it mined slower and slower every year. Thus, while demand will further increase, there will be a huge BTC deficit.