Did you know that the cryptocurrency market is currently valued at over 2 trillion?
About 13% of Americans have bought or sold cryptocurrency, and one Bitcoin is projected to be worth more than $50,000 by the end of the year.
If you are interested in purchasing bitcoin but want to learn about the top five benefits that come with investing in bitcoin first, keep reading.
Bitcoin enables users to easily trade their coins for cash or other assets at low fees, making it one of the most liquid investment assets. Bitcoin’s liquidity makes it an excellent investment for short-term profit.
Being a great short-term profit investment does not mean you shouldn’t invest long-term. Bitcoin’s market demand is increasingly growing, giving users a potential for high returns.
2. Bitcoin Acceptance Is Increasing
More and more companies and businesses are accepting Bitcoin as a payment method, highlighting its popularity and proves it is not going anywhere. Some of the biggest companies that accept bitcoin include:
- Whole Foods
- Home Depot
More recently, AMC Theatres announced they would also accept Bitcoin for online ticket purchases and concession payments by the end of 2021.
3. Low Inflation Risk
Bitcoin is immune to inflation because the government does not regulate it. Instead, the infinite blockchain system is in control. The blockchain system removes the power that Fiat money has over people and eliminates any third-party interference.
The lack of government regulation means that you do not have to worry about the value of your crypto decreasing. If you are interested in learning more about the low inflation risk, you can look at the BTC to USD and BTC to CAD conversion rate.
4. Low Transaction Fees for International Payments
When making a traditional wire transfer or foreign purchase, there are fees and exchange costs. Bitcoin, however, does not have any government involvement making the transaction costs lower.
The transfers are also faster and eliminate the waiting process as well as the need for typical authorizations.
Remittances, payments transferred to another party in another country add up to make a $550 billion-dollar industry, where Bitcoin plays a significant role. People use bitcoin for these remittances due to the decreased fees and cryptocurrency’s general borderless nature.
5. Protection from Payment Fraud
All bitcoin transactions are peer-to-peer. This means that when making a bitcoin transaction, the seller does not have access to your confidential financial information, making it similar to cash. This protection prevents hackers from accessing your information, and your identity remains hidden through blockchain technology.
The entire system relies on blockchain, which should provide users greater peace of mind knowing there are high levels of security in place.
Start Investing in Bitcoin Today
There are numerous benefits to investing in bitcoin. Before you know it, you’ll be a confident bitcoin investor reaping the benefits of cryptocurrency.
If you enjoyed learning about the benefits of investing in bitcoin and want to learn more, be sure to check out our blog.