Get Smart! Learn The 7 Benefits of Buying Bitcoin
Photo from Unsplash
Originally Posted On: https://www.bytefederal.com/learn-the-7-benefits-of-buying-bitcoin/
If you’re considering investing in cryptocurrency, you’re far from alone. Over 46 million Americans now own Bitcoin and are using it to make purchases, invest in the stock market, and place online bets.
Buying Bitcoin is especially important in a world where it’s becoming increasingly popular. But why is this the case? Read on for some insights about why you should buy Bitcoin and how buying and selling Bitcoin can benefit you in the coming years.
1. Bitcoin Is Increasing in Popularity
Although Bitcoin is a common investment in 2021, it’s set to become even more mainstream in the coming years. Currently valued at $1.6 billion USD, the cryptocurrency market is set to grow to $2.2 billion by 2026. This is an increase of 7.1% each year.
As demand increases, Bitcoin’s value will also increase. Buying Bitcoin now puts you at an advantage. You can resell cryptocurrency that you don’t use for more money later.
You also can feel secure in the knowledge that the investment isn’t going to become worthless overnight. Fads and trends change over the years, and a stock market investment could immediately go bankrupt. A Bitcoin investment can’t do that since it’s a full-on currency that never goes out of style.
2. Buying Bitcoin Can Diversify Your Portfolio
Bitcoin has a steadily low correlation to returns in the stock market. Some investors choose it for this reason. Bitcoin can diversify a portfolio and decrease your risk when investing elsewhere.
Since it has no 3-year correlations with other assets, it truly is one of the best investments for risk management. You will get a huge ROI when buying Bitcoin because of its steady rise in popularity and consistent return.
3. You Can Make Purchases With Your BTC
If you want to spend Bitcoin rather than resell it in the future, the proliferation of cryptocurrency is beneficial to you as well. More and more venues have been offering cryptocurrency as a payment method. This means that you’ll be able to spend your Bitcoin in an ever-increasing number of online locations.
This is often preferable to those who want to perform international transactions. Currency conversions are unnecessary when you shop with cryptocurrency. This makes it easier for you to purchase things from foreign venues and avoid international import/transaction fees.
Some companies like Visa have been letting you load virtual Bitcoins onto a debit card. You can then use the card at retail stores that accept them. This all-new way to use Bitcoin is a direct result of its popularity, and it’s likely to expand in the future.
4. Bitcoin Is Easily Accessible
Many first-time buyers worry about the accessibility of Bitcoin. This is a valid concern since mining for cryptocurrency is challenging and many people don’t have the tools necessary to do it. Luckily, Bitcoin is more accessible than ever before because of the proliferation of Bitcoin ATMs.
These machines can be found in gas stations, retail stores, and banks all across the US. All you need to do is find one near you, insert cash into it, and allow Bitcoin to be placed into your virtual wallet in exchange. It’s simple and accessible to anyone with some cash handy.
You can also convert Bitcoin into cash easily with a Bitcoin ATM. Simply go to a machine and enter the amount of cash that you want. It will automatically remove funds from your virtual wallet and give you the cash equivalent.
5. Buying Bitcoin Is Secure and Anonymous
At this point, you’re probably wondering: why is using Bitcoin preferable to always sticking with government-issued currency?
In an increasingly digitally-driven world, security and privacy are important features. Bitcoin is completely untraceable and allows for anonymous transactions to take place both online and in person. They’re in no way tied to your IP address, personal information, or identity.
This lets cryptocurrency users rest easy that their personal data and documents won’t fall into the wrong hands. Malware can’t latch onto Bitcoin and steal their money and financial information in the same way that hackers could break into your bank account or PayPal.
6. Using A Bitcoin ATM, You Will Avoid Transaction Fees
Another great aspect of buying Bitcoin, is the route of crypto ATMs, and purchasing things with cryptocurrency? You get to avoid transaction fees.
Because Bitcoin is untraceable and anonymous, you won’t get charged any additional fees for making a transaction with it. It provides you the convenience of a credit card all while giving you the benefits that cash transactions bring to the table. This ultimately will save you a lot of unnecessary fees.
7. The Value Of Bitcoin Is Constantly Increasing
The value of Bitcoin is always increasing, and investing today will ensure that you get it at an affordable price. Unlike saving government-issued currency, the value of Bitcoin will always go up over time. It won’t remain stagnant in the same way that a traditional bank account would.
You can liken this increasing value to interest, but exceedingly more lucrative. While you’d only earn a small percentage of interest leaving cash in a bank, your Bitcoin’s value could literally double in a couple of years.
Start Buying Bitcoin Today!
Now that you know some of the top benefits of buying Bitcoin, it’s time to begin investing. Contact us with any remaining questions that you have about accessing cryptocurrency near you.
We’re happy to answer any lingering questions that you have about the advantages of Bitcoin in addition to pointing you towards a Bitcoin ATM. Because we’re committed to ensuring that you can reap the many benefits of cryptocurrency, we look forward to you reaching out.
Sorry, the comment form is closed at this time.