Bitcoin is making headlines from the day it started circulating. People are enthusiastically grabbing Bitcoin as a method of payment and as an investment. Here is why you should get into the bitcoin game right now.
The cryptocurrency, Bitcoin is making headlines from the day it started circulating. Nowadays, it gets a lot of attention due to various reasons. When the idea of the digital currency coined out almost a decade back, nobody expected a transition we see today. Though there are many apprehensions about the digital currency, more people are enthusiastically grabbing Bitcoin as a method of payment and as an investment. At this juncture, we can look what makes investing in Bitcoin is promising.
While comparing with the initial days, anyone who did a careful analysis about this digital currency can see that it became popular year after year. The initial days, there were only around 5,000 transactions using Bitcoin per month, but now, it stands at more than 9,000,000 transactions in any given month. This means that the currency is very popular now, and a significant percentage of people are using it for their day-to-day transactions. Bitcoin has more utility in the recent years, the processing of buying, selling, and transacting it is much simpler and easier now, and it works as a key factor in the popularity of the cryptocurrency.
The Surging Prices
The increasing value of the currency is another important aspect that drives for the investment in it. From nowhere in 2009 to almost $1800 per each unit, it has given one of the biggest returns for its investors in the history of any investment product. Though there are speculations regarding the digital currency and its future, it should be remembered that it has no stops from the day it originated. Even though there were fluctuations in its value over the years, it has given only given sweet returns for long-term investors. Whoever wanted to invest in it, be ready for a long-term investment without minding the short-term fluctuations.
More and more sellers and brands are coming to support the cryptocurrency. Per the latest information, Amazon, Microsoft, PayPal, Dell, Overstock.com, Expedia, Tesla, and many other brands and merchants are currently accepting the Bitcoin. There are more than 150K merchants and brands in the digital currency network as of Jan 2016. In India, there are more than 2,000 sellers are on its network by the latest confirmation by Unocoin, the leading Bitcoin firm in India. The list of merchants includes both online and offline retailers, and some of the prominent merchants are Indsoft.net, Reload.in, and more. Interestingly, there is no processing fee for sellers is making it dear to them.
Prospects of Becoming the Global Currency
The steeply increasing popularity of Bitcoin is showing its way to become the global currency one day. When the digital integration is taking place at a quicker pace, the obvious beneficiary is the virtual currency. It has many advantages than any currency issued by various governments. Bitcoin is now accepted by a sizable number of merchants from almost every country. It can be easily transacted without the need to changing to local currency. On implementing a global currency by the countries, there is a need for consensus, regulations, talks, etc., but in the case of Bitcoin, its popularity and acceptance speak that all.
It is less Volatile Now
In the initial years of Bitcoin accession, the volatility on its value was very high, and it was at more than 16 percent. Over the years, it steadily reduced, and now, it stands at less than 2 percent. When the global currencies are trembling due to various political conditions in their countries, Bitcoin can serve the purpose of a credible investment option in the place of gold and become a trusted currency.