The most popular cryptocurrency is again a moment. But what do Bitcoin hyps have right now?
It’s been almost 12 years since Satoshi Nakamoto developed the peer-to-peer electronic checkout system that brought us Bitcoin. Millions of people have been buying and selling this decentralized cryptocurrency for years.
So why this global hype all of a sudden? As NordikCoin points out, there are a handful of reasons. Let’s see.
1. Bitcoin is hovering around the $ 20,000 mark again
Bitcoin rose to an all-time high in 2017 when its price peaked at $ 19,783. Today, the cryptocurrency is once again hovering around the hard-to-reach $ 20,000 mark.
Its instability can prevent many people from investing in it, but rarely can anyone resist at the moment. Don’t want to get your hands on a few BTCs that are worth so much money? We know we would.
If there had ever been time to start mining Bitcoin, it would be now. And who says this encryption doesn’t break another record? Its price may well go through the roof.
2 / The desired encryption may be in the direction of troop deployment
PayPal has just launched a cryptocurrency service, becoming one of the newest companies to have introduced encryption, including Bitcoin. Its U.S. users can now buy, hold or sell digital currencies directly from the platform.
Many other companies are also adding cryptocurrencies to their business, which is excellent acceptance. Even banks jump slowly into the lane and join the jump.
All of this means that Bitcoin is becoming more and more readily available. That’s why more and more people are whining about it and rushing to get their piece of the pie.
After all, that delicious pie is gone one day, leading us to the next point.
3. BTC is limited
The limit for Bitcoin supply is 21 million BTC, according to a pre-defined protocol.
So far, more than 18.5 million BTCs have been excavated, leaving less than 2.5 million BTC.
However, thanks to the halving of Bitcoin, the rest of the BTC that people can dig will not be in circulation until 2140.
Halving Bitcoin is an annual event when miners ’fees are halved. So miners get 50% fewer coins every year than the previous year from adding new blocks to the block chain.
But as NordikCoin explains, because there is a limit of 21 million, the value of Bitcoin will increase as supply decreases. As a result, demand is also growing.
So it is clear why large companies are implementing it and slowly arousing mass transformation. And who knows, maybe the protocol will change to allow for an increase in supply. Wouldn’t that be a pleasure?
4. You can use Bitcoin for a range of products and services
Thousands of merchants around the world accept Bitcoin valid payment method – more than 15,000.
With Bitcoin, you can buy almost anything, including clothing, accessories, food, electronic equipment, appliances, games, jewelry, event tickets, software, and more.
You can book vacations through travel agents, donate to charities, buy or rent a car, pay bills, pay for online services, and more.
With so many options available, mass conversion may not be far-fetched.
5. Bitcoin can be a hedge against deflation
The value of Fiat currencies, especially the US dollar, is steadily declining in the midst of an ongoing pandemic. The worst part is that economic problems are constantly increasing as commodity prices rise.
That’s why many organizations are currently investing in Bitcoin. One example is Square.
Square recently bought $ 50 million in Bitcoin, saying that the company believes in the future potential of the cryptocurrency as a global currency.
Many other investors believe that Bitcoin can be a hedge against deflation, especially when it cannot be devalued like fiat currencies.
Although Bitcoin is inflation-resistant, its volatility remains a major factor to consider. If everyone suddenly invests in it, its price could go up before a dramatic drop.
6. You can buy Bitcoin in minutes
One of the best parts of Bitcoin is that you can buy it in minutes.
We recommend that you check NordikCoin, Estonian cryptocurrency exchange.
It only takes a minute to create your account on the platform and get your own free Bitcoin wallet. You can register with various electronic identity solutions and buy Bitcoin with VISA or MasterCard.
Buying it couldn’t be simpler. All you have to do is enter the amount you want, choose your fiat currency, click the “Buy Bitcoin” button and check the payment method you want.
7. Bitcoin exchanges are open and secure
The whole purpose of Bitcoin and other cryptocurrencies is to make online transactions more transparent and secure.
Therefore, BTC operates in a block chain, which is a publicly distributed general ledger that contains unchanged information about all events. The book is decentralized, which means there are no intermediaries.
More importantly, no one can change records, so there is no room for fraudulent transactions or theft. All data and digital money passing through the system is completely secure, including the Bitcoin wallet.
The blockchain-based general ledger is encrypted, and no one else has the encryption key needed to use the wallet.
All these aspects of Bitcoin make this currency so attractive.
Have you joined the Bitcoin Hype program?
Mining, buying and selling Bitcoin can offer you a wealth of benefits. So, what are you waiting for? Jump on the carriage and join an exciting ride! You never know – you might turn your whole life around.
If you haven’t joined the jump yet, now is the time. Take the opportunity to get your hands on BTC and enjoy much more convenient online payments.
Register at NordikCoin today and connect thousands of happy users easily, securely and cheaply to all your cryptocurrency needs.
The platform features military-level encryption, state-of-the-art security, and a multi-signature system to prevent unauthorized access. So get your free Bitcoin wallet today and start trading!