It goes without saying that Bitcoin provided us with a new and futuristic payment method, one that has the potential to become the universal payment method in the coming years. There is no doubt that Bitcoin revolutionized the financial industry as it was the first user-orientated method, designed to protect the users, rather than the banks/governments.
Bitcoin’s network already counts millions of users and it continues to grow with each passing day. Considering the fact that Bitcoin’s current value is over $30,000 and experts believe that it can still climb, you can see why new people register to get their hands on this cryptocurrency.
With all being said, we wanted to explain to you why Bitcoin is such a success by naming all of the advantages that it has over the FIAT currencies and the other cryptocurrencies. But first, let’s start with its biggest advantage – the possibility to make a profit.
The Most Profitable Cryptocurrency
As we stated at the beginning of this article, Bitcoin is currently valued at over $30,000. It is by far the most profitable cryptocurrency and the only currency in general that can make you an overnight millionaire.
As far as how people make money with it, we are more than happy to enlighten you on that topic. Traders earn Bitcoins through mining. This is a process in which they verify transactions made with this cryptocurrency. The reward for each verified transaction is Bitcoins.
After they earn them, comes the second hard part – selling them. The reason as to why it is so hard to sell Bitcoins is because the price of this cryptocurrency changes with each passing day and traders need to make sure that they sell it at the right moment to make the highest possible profit.
How do they do that? With the help of trading sites. Trading sites analyze the market and use the data to predict the future price of Bitcoin, thus letting you know when is the best time to sell them. For example, if you invest in BitPal, you will gain access to the site’s advanced AI system. This system uses algorithms to convert all the data into valuable information, thus providing you with an accurate prediction of Bitcoin’s future price.
The daily profitability rate at this platform is huge and BitPal is one of the most reputable sites these days. It has thousands of registered users from every corner of the world. Its AI system will help you figure out when to sell your Bitcoins and make the highest profit possible.
Advantages Over FIAT Currencies
First off, let’s see how superior Bitcoin is compared to the regular payment methods, like credit and debit cards. This cryptocurrency is self-sustainable, meaning that it is not controlled by banks, but the people using it. Due to that fact, banks are excluded from each transaction as the middlemen. In doing so, they cannot impose hidden or added fees to the parties that complete a transaction.
General fees are also much lower by using Bitcoin. So, people save money by not paying unnecessary fees when they use the cryptocurrency. Bitcoin also provides them with a high level of online security as it utilizes a method called cryptography. This method uses codes as a communications process and these codes cannot be cracked. Further proof of its security is the fact that Bitcoin has never been hacked.
All online transactions with Bitcoin are instant as this cryptocurrency is fully optimized for digital use. Just to compare, when using credit or debit cards, it can take up to several days for a transaction to be completed, due to the processing time. That is not the case with Bitcoin.
Advantages Over Other Cryptocurrencies
And finally, we are also more than happy to name a few advantages that Bitcoin has over other cryptocurrencies. For starters, Bitcoin is far more stable than the rest of the competition. Its network is growing with each passing day and has greater liquidity compared to other cryptocurrencies.
It also focuses on the security of its users far more than other cryptocurrencies, but most importantly – Bitcoin’s value is unmatched. When it comes to the price of 1 Bitcoin compared to other cryptocurrencies, Bitcoin is far more superior.
