Will Bitcoin be the currency of the future, or will it crash? I believe Bitcoin will be the main currency in near future. Why? Okay, let’s see:
- Highly secured transaction.
- Bitcoin will be the shield against economic problems
- Only works as Universal World Currency
- People may invest for long-term returns
- As no third party is involved in the transaction so it is difficult to hack for the criminals
- No paperwork for a transaction as well as quick and cheap transactions
- Accessible to anyone, anywhere just using a small smart device
1. bitcoin will be the shield against economic problems: Yes it will.
Unless Bitcoin is no more a decentralized currency, then I can say that the 2008 American Economic problem can affect it.
Cryptocurrencies can be used at the international level without facing any problem because it is not restricted by the exchange rates, interest rates, transaction charges or any kind of other charges of any country. So anybody from anyway can make use of it.
In Kenya’s M-PESA system for an instant, a mobile phone-based money transfer and microfinancing service recently announced a bitcoin device, with approximately one in three Kenyans now owning a bitcoin wallet.
Now, consider it, if I and you and everyone on this forum could transact business, and rapid growth using the blockchain technology, tell me, what would the economic situation of the world concern us, no way, right?
A clearer example, on my Top 5 Cryptocurrencies to buy in MAY, 2018 blog post, I considered the nature of Ripple. I mean the purpose of what it was meant to be.
Ripple is one coin that its mission in terms of economic value is for the whole cryptocurrency community.
So, if a coin like Ripple is there and another like coin like Ontology whose mission is out of this world, I think, the certainly, Bitcoin and other altcoins will be the shield against economic problems.
2.Highly secured transaction: Confidential
In cryptocurrency, the privacy options of the user are well protected unless you want to go the way of a credit card.
As the signs or codes are used in the transactions associated with cryptocurrencies, there is no any possibility of leakage of personal information.
Just imagine sending money through a technology known as the blockchain. A protocol whereby everyone sees that payment is going on but, the security syntax makes the transaction super secure.
As a matter of fact, there is no how such a blockchain can be hacked, even though with legions of hacker.
3. Only works as Universal World Currency
Yes, bitcoin can work as a universal currency. I mean, take a look at the numerous ICOs launched, every single one of them paired their purchases with bitcoin.
That alone is one traction that has made bitcoin a universal world currency.
Now, take, for instance, if I can stay in Nigeria and ship an iPhone X from Bitcoin shops, is that alone not traction that this revolution currency a big deal? Of course it.
Recently, although I had a list of over 800 places accepting bitcoin (now that is worldwide, right, no currency restrictions), I recently was amazed to see up to 3 million places you can spend bitcoin. That was amazing
Although I will publish that soon, the one fact is that Bitcoin is still growing, (over 40 million users), and will break new grounds. Just forget about what the government of some countries is doing, they know that their investment might be in stocks, and so, there should be o competitor.
They don’t want Bitcoin to do to local currencies office what email did to post office.
So, the question of universality is sure. If I can stay in Ireland and order a product in bitcoin, as far as it delivers, that currency is SURE A UNIVERSAL CURRENCY.
4. People may invest for long-term returns
As far as Bitcoin and cryptos are the concern, buying bitcoin for HOLD is a long time investment. I remember buying bitcoin last year mid-June, in December I exchanged it and I made mum happy about it.
Now, about the question of being a long-term investment, the answer is, it sure is.
Although I revitalized my site again on April 25th, trying to reposts all my old posts, , in one of my CRYPTOLIFE posts, I showed my readers how to buy ripple from beginning till the end.
Now, if I showed them how to buy, it also means I bought mine for a long term.
The truth is that Bitcoin and other cryptos are a long-term investment. Although now, I target altcoins since they can reproduce result more having bought some bitcoin.
5. As no third party is involved in the transaction so it is difficult to hack for the criminals
Yes, bitcoin is difficult to hack. However, you need to be careful though not to trust an exchange fully with your bitcoin.
But by & bye, it is not easy to hack bitcoin.
Think about decentralized exchanges. No hacker can go there. That is why they use some low security conscious centralized exchange(s) to Play FIFA 2018- Coincheck Exchange Hack.
6. No paperwork for a transaction as well as quick and cheap transactions
Yes, absolutely, we won’t be seeing anything like paperwork, unless, there will be a technology to print Space Paperwork, lol.
Hitherto, bitcoin and cryptos transactions are quick. Truth be told, although, it can cost a little to deal with Bitcoin delivery, with other altcoins like Ripple and Litecoin, it flies like Jet.
7 Accessible to anyone, anywhere just using a small smart device.
Yes, it sure accessible to everyone. Just think about the Ledger Nano wallet stuff. Things can get pretty sweet. As matter of fact, I love that wallet.
So, my krafa , I believe, I have been able to exert some points that BITCOIN’S RELEVANCE is just starting out?
Please, guys, let me know what you think, Upvote if worthy.