Incomparable Anonymity of Bitcoin
The thing that makes Bitcoin crypto accounts so attractive and reliable is the fact that although transactions are transparent and BTC flow can be traced among the users, the anonymity of individuals behind the accounts is fully secured and extremely difficult to break. This is not the case with storing money in the banks, for example, or transferring money via any other online platform.
Bitcoin is highly liquid
You know how they say that cash is the most liquid asset comparing to, for example, real estate, jewelry, etc.? Well, bitcoin is the most liquid asset among cryptocurrencies. This actually means that when trading with it, you will not lose substantial value, and you will retain most of its inherent value when converting to fiat currencies, such as the U.S. dollar.
Extremely Lower Transaction Fees and Less Paperwork
Bitcoin transfers abroad are way easier and less expensive than transactions of fiat currencies. This type of transaction is freed from transaction charges or paperwork usually imposed on transactions using credit cards, ATMs or international bank transfers. Everyone will agree that it is an advantage if you can save up to 10% or even 15% of value, which you would otherwise let slip into various fees. Bitcoin transaction fees rarely cost above 1% of its value.
Limited Number of Units
We have been measuring wealth by gold, for centuries. Until we stopped. Remember the program of quantitative easing? Therefore, the majority of traditional (fiat) currencies controlled by national governments are non-scarce.
Bitcoin (BTC), on the other hand, has a “mathematically-fixed scarcity” of no more than 21 million, as demanded by the blockchain protocol. Crypto enthusiasts believe that this is the thing that will secure its long-term value and advantage over fiat currencies.
Bitcoin as a Payment Method is Becoming Mainstream
A growing number of retailers accept Bitcoin payments. Nowadays, you can buy any kind of goods or service using Bitcoin units. Also, Bitcoin is a highly-recommended deposit method at our online casino, among many others. If you have never used it before, now may be a good time to check out our step by step guide to making your first Bitcoin deposit.
By now, most of you know that BTC was not created by any government entity and that there is no central bank controlling its flow. This feature makes BTC harder to control by traditional means. This is probably the characteristic that is difficult to grasp and only time will show to what extent this type of decentralization is feasible. If it proves to be so, the impact of cryptocurrencies on all other aspects of our lives and economies will be massive.