Cryptocurrency has been existent in the investment market since last nine to ten years. Bitcoin has gained popularity because it is decentralized nature, hence has a potential to revolutionize the world investment and commerce market. It is gaining acceptance as a mode of payment by many large established online retailers like Amazon, Expedia, etc. since it is a cheaper and faster way of doing the transaction. As per a recent study done by JeffLenney.com, The volume of e-commerce transaction done via Bitcoin is increasing every day. Since it is a volatile currency, you may need to keep constant track on the fluctuation happening in the market which you can do through online websites like bitcoinist.com/coinbase-adds-100k-new-users-just-24-hours-bitcoin-prices-continue-climb/
Few benefits of Bitcoin are as under:
1. The chances of third-party seizure are minimal. It is impossible to seize bitcoin because there is multiple copies transaction database. Unlike other options where there is regulation authority or government who have the power to freeze the accounts or take over the assets of the company or individual defaulting, people dealing in Bitcoin have full freedom.
2. Anonymity is another advantage. Since an alias name does the transaction, there is no way to link this digital currency to the actual user. Transfers are made to address which keep changing with every transaction. Therefore, it offers better privacy and alternative currency options.
3. Faster and cheaper transaction: The transfer fee is lesser compared to other currency options, and its value is not correlated to the volume of the deal. Therefore, it is a cheaper option for investment. The chargeable bitcoin fee is 0.0005 Bitcoin per transaction which is very negligible. Since there is no verification check done, the sale is swift.
4. There is no risk of chargebacks: The deal is irreversible once done. Once the bitcoin is transferred, ownership address changes in the name of the new owner and he are given a private key which provides him with only the right to change the ownership. Therefore, the chances of defaulting payments are very rare in case of transactions done via Bitcoin.
5. Bitcoin is theft resistant: Since the owner can only be changed by using the owner’s computer, it is challenging to steal. Unlike other traditional currencies, where getting access to specific personal information and login details, one can access the accounts of the user, bitcoin is a safer option.
6. There has been a constant appreciation of the Bitcoin value. Since the inception, bitcoin has stabilized in amount, and a continuous increase in cost has been registered since then. People who have made investments at the right time have earned high profits.
The beauty of this investment option is it is not affected by the world economic and political changes, unlike equity markets. Therefore, you can register an increase in your portfolio even during the economic slowdown. Although there is a sense of volatility connected to it, it usually works in favor of the risk takers as per the records.
Bitcoin is gaining global acceptance by all prominent companies who are accepting payments in this currency. Since it is free from the complex problems of currency conversions and massive transaction cost, more and more investors are getting attracted to it in the past few years. So, if you are a risk taker and want to make fast financial gains, invest in Bitcoins right now.