10 Reasons You Should Buy Bitcoin In 2017
1. The Price Of Bitcoin
Since Bitcoin was “invented” the overall price trajectory has generally been an upward one & looks likely to continue which is a pretty good reason to buy bitcoin now.
Looking back at how much some lucky individuals have made, provides good justification as to why you should buy bitcoin now as history could repeat itself.
Granted, it’s quite volatile but if you had bought bitcoins a few years ago your investment would be worth considerably more now.
In fact if you had bought just $5 worth of bitcoins in 2010, your measly $5 investment would be worth almost $4.5 million today (May 2017).
2. Making Global Payments Is Fast
Another excellent reason to buy bitcoin is that by using bitcoin for making overseas payments is far quicker option than using the traditional banking system.
- International transfers from one bank to another can take up to a week to be received in your account.
- Bitcoin transactions, on the other hand, are processed immediately and received within 30 minutes anywhere in the world.
The speed of a transaction is a massive benefit that come with using bitcoins for payment.
However, in some instances like paying for your coffee, cash or credit card may be quicker than using bitcoin which would take about 10 minutes or so to process – quick for an international transaction but not so quick for a cup of coffee.
Don’t Leave It Until the Price Is Over $10,000!
3. Bitcoin Users & Credibility Is Increasing
More justification for buying bitcoins is that more people are beginning to use it for transactions as more companies are accepting bitcoin as a bona fide currency.
Here are just three big votes of confidence for bitcoin as a legitimate currency for individuals & companies;
- The multi national Fidelity Investments Group allows employees to pay with bitcoin in their company canteen & Fidelity Charity will accept bitcoin as payments into their account.
- Whilst there are many individuals & companies adopting bitcoin as a legitimate currency, Japan has accepted bitcoin as a legal method of payment as of 1 April 2017.
- There is also speculation that the possible approval by the U.S. Securities and Exchange Commission (SEC), the American stock regulator, of the first bitcoin ETF is imminent.
4. The Creation Of Bitcoins Is Decreasing
With the actual production of bitcoins busy decreasing, as per the Bitcoin protocol, the demand for this cryptocurrency could increase dramatically.
This would push the bitcoin price up which would increase the value of your investment in this cryptocurrency.
Added to this is the fact that there will only be 21 million bitcoins created and to date already more than 15 million have been created.
This will increase the scarcity of bitcoins, thereby increasing its value which is another good reason to buy bitcoin now.
5. Blockchain Technology
The Bitcoin platform is based on Blockchain technology which is fast gaining ground as big companies are beginning to show interest in the Blockchain.
So powerful & popular is this technology that many in the industry think that blockchain will eventually become the preferred technology to manage everything from share trading to voting.
6. Easy To Buy & Sell
Buying and selling bitcoins is so easy to do through your bitcoin wallet or exchange.
There’s no need for stockbrokers, advices, orders or any other paperwork.
To buy or sell bitcoins can be done in a few seconds – quick & easy.
7. The Bitcoin Bubble Is Only Just Getting Started
As per this article, published by Stansberry Churchouse Research (by Tama Churchouse), the staggering growth of bitcoin isn’t done yet.
In fact some say this cryptocurrency could grow 10, 100 or even 1,000 fold in the years to come.
One thing’s for certain, it will be a bumpy ride especially if it becomes highly regulated. This won’t be a bad thing however, although there will undoubtedly be a significant drop in the price before it starts rising again.
8. Almost Zero Cost
Everyone knows how costly the banking system is which makes Bitcoin a welcome relief with its significantly lower transaction fees.
Compared to the fees charged by banks for international transactions, Bitcoin charges pale into insignificance.
For instance, merchants pay up to 6% to the banks for processing online credit card payments and together with the high rates of credit card fraud these costs all add up and are ultimately passed down to the consumer in the way of bank fees.
Bitcoin, on the other hand, doesn’t incur any of these costs to pass down to its users making it an extremely cost effective payment option.
When making or receiving a payment your privacy is protected with Bitcoin as you aren’t required to provide any sensitive or personal information.
For instance to receive payments you only need to provide the payer with your Bitcoin wallet address which you can hand out to anyone who needs to pay you in bitcoins.
This address is just a number which can only be used for receiving funds & cannot be used to make withdrawals.
So when it comes to transacting in bitcoins there is no necessity to provide any of your personal details at all.
10. Bitcoin Is Decentralised
Bitcoin has no centralised control, like South Africa has the Reserve Bank (SARB) and most other countries have a central bank which are responsible for printing & controlling their currencies.
Bitcoin’s network consists of a network of computers distributed all over the world which together form the Bitcoin network which, unlike with a central bank, there’s no potential for a collapse of the central bank or suchlike.
However, should some of the computers fail and part of the network goes offline, the remaining part of the network will continue functioning & processing transactions.
Bitcoin is not associated with other national currencies or the stock market which limits its exposure to collapsing of economies or currencies making it a potential safe haven for investors.
Don’t Miss the Boat, Start Your Bitcoin Journey Now