There are a number of reasons that Bitcoin is all the rage. Five of the top reasons are discussed herein, showing and explaining why Bitcoin is one of the most popular currencies of our time.
Anonymous and pseudonymous
The Bitcoin transactions that you make are anonymous or pseudonymous when in your Bitcoin wallet. Therefore, it must follow that as long as you keep your pseudonym well protected, your Bitcoin is also safe and secure. This level of anonymity is a reason why a large number of Bitcoin users claim the Bitcoin has become so popular so quickly.
The safety when using Bitcoin has simply been on the increase and as the global online hacking and data breaches increases, Bitcoin is seen as a means to avoid all such losses of personal information as well as the fraudulent loss of money in online transactions. It is the blockchain linked to Bitcoin, where all parts of all transactions are noted and listed in minute detail, that make it nigh on impossible to steal or fraudulently produce and use Bitcoins.
The different uses are ever increasing
The uses for Bitcoin and the number of direct vendors that now accept actual Bitcoin or parts thereof is on the increase. So from playing at places such as mbitcasino.io to buying a watch or luxury car, it is all possible, and it is this spread and increased social and financial acceptance in the online space that has led Bitcoin to becoming one of the fastest-growing cryptocurrencies to be accepted and used online.
No central controlling body
After the financial crises of 2008 and the ongoing volatility and uncertainty in traditional and conventional financial markets that was so badly handled by the central banking authorities and national banking organizations, the fact that Bitcoin has none of these regulatory controls (apart from those set by owners and users of the currency) has been one of the biggest drivers of its growth and expansion. No one is able to charge fees on your Bitcoin transfers and neither are you expected to provide a host of personal details and information that puts you at risk online every time you spend your Bitcoin.
This is one of the biggest debates at the moment—whether Bitcoin’s volatility is a benefit and one of the factors that is driving the ongoing growth of the currency. For many, it would seem a risk that Bitcoin’s growth was exponential and unexpected, and yet it has also had periods of decline and drops in value. For many investors it is this volatility that excites them about Bitcoin, as well as the chance to become enormously wealthy from investing at the right time.
Bitcoin is argued to be one of the currencies of our future and is also expected to stand the test of time. It has proven itself and now it is all about watching the use patterns and determining how you, too can benefit from a currency that is all the rage.