Bitcoin continues to rule the market of cryptocurrencies. In 2008, when bitcoin was first invented, everyone had their concerns. After all, nothing was really clear about transactions. Ever since brands like Microsoft and PayPal started accepting bitcoins for payment, things changed considerably. Today, mainstream and regular investors consider it as lucrative as stock or equity. Below, we have discussed the pros and cons of bitcoins, so that you can take a call.
- In case you are worried by credit card fraud, bitcoins can be a good alternative. Transactions are recorded in a public ledger known as the blockchain and cannot reversed or counterfeited at any point.
- It is easy to deal in bitcoins. There are dealers with physical offices, where you can visit, ask the relevant questions, and buy bitcoin in cash. The whole process is transparent, fair, and there’s no risk involved.
- In many parts of the world, access to the regular and traditional exchange systems, but with the internet, cryptocurrencies expand the options for everyone. In short, everyone can make an investment and earn from bitcoin, just like they would with other regular equities and commodities.
- Transaction fees are limited as compared to the traditional debit cards, credit cards and banks, which is also one of the many reasons why bigger companies have started to accept bitcoin as form of investment.
- The demand for bitcoin is likely to increase or at least remain stable, because 21 million of these will ever come into circulation, and most of it is already out there. As investors take interest in bitcoin, it continues to be a lucrative investment.
- Bitcoin follows the decentralized system, and therefore, economic and social factors, such as war, depression and natural calamities don’t impact its value. This ensures that bitcoin remains a lucrative choice for most investors.
On the flip side
Not considering the trends, there is always a chance that bitcoin prices may fluctuate, which means that the investment does have inherent risk. With increasing prices, this might not be a great choice for small investors, who are probably more interested in physical assets like gold.
If you want to get into buying and selling Bitcoins, there are a bunch of dealers who can simplify things for you. Do your homework, consider the risks and take a call accordingly. Don’t shy away from asking questions- in case you don’t understand how to invest and make the most of cryptocurrencies for your portfolio.
With so many areas to spend bitcoin easily, pros are definitely more then the cons.