As the year 2020 closed, Bitcoin’s price was on an upward trend. Due to the pandemic’s effects, many economies were almost closing as business activities at stock markets were minimized. Against this bleak background, the digital currency space was gaining popularity as the best option for investment. Many investors started warming up to the idea of cryptocurrency. Some even pumped massive amounts of money to invest in this market. First-time investors, who had no idea about BTC but wanted to invest in it were grappling with questions like how does Bitqs work? Such investors realized that they had no business in conducting their trading as software came in handy.
With the multiple perks that come with investing in crypto, it’s essential to try your luck in it in 2021. Keep reading to discover compelling reasons why you should go for BTC in 2021:
Cryptocurrency is secure and Fraud-proof
Cryptocurrency implements the ‘cryptography’ process. The mechanism converts legible information into an uncrackable code for security. It is impossible to counterfeit this since the currencies are virtual and irreversible by the sender. It is what makes it so secure.
It also implements a public key cryptographic process whereby only the public key owner can send the money. Even most digital wallets offer several security features making them reliable to use. It ensures that you will experience no theft cases when you invest in cryptocurrency because the system guarantees that your assets are safe.
It is also fraud-proof. The government and other legal bodies cannot take it from you since any central authority does not issue it. You won’t need to depend on any financial institutions to hold or transfer it, no exorbitant fees. The public ledger stores all confirmed transactions and utilizes encryption of the coin owners’ identity to ensure record keeping legitimacy. Chargebacks are non-existent; the risk of customers asking for a full refund from Credit card companies through falsified accusations will never happen in cryptocurrency. You will experience no fraud cases.
It has an improved market.
There is substantial growth in the cryptocurrency world. Its market is one of the reasons why the market is gaining popularity. Since there is no centralized governance, the market is open to trade 24 hours a day, every day. It is a global market meaning there are numerous transactions taking place all over the world.
The all-time availability of the market has improved it and contributed to the growth of cryptocurrency. It is the best time to choose cryptocurrency. You will exploit the readily available market, meaning that you can easily take advantage of the ever popping up opportunities depending on how much time to put into it. Indeed, the market is always open will also help you ensure that you have a higher chance of earning a profit.
It is simple to invest in cryptocurrency.
When trying out new investment, whether stocks or bonds are bothersome, complicated, and time-consuming, most traditional investment opportunities require high capital. You would need to tap into a large sum of your investments to do it. If you lack the funds, then you can’t get into these kinds of investments. However, this is not the case for cryptocurrency.
For one, it is easy to join and get started. You don’t need to have a large lump of money to start. You can do it for even as little as $100! There is also no paperwork or visits to the bank and other financial institutions involved. All you need is a smart tool, like a laptop or smartphone, and a good internet connection to create an account, get a cryptocurrency wallet, and dive right through it. It is simple to use, and you can easily keep track of all your investments from the comfort of your home.
It guarantees high returns.
Before diving into any investment, it is always important to ask yourself, ‘Is it worth it?’ It is worth it investing in cryptocurrency. Though it is still relatively new, the market is more profitable than most of the other investments. For one, the market never sleeps, which means that it is always active for you to take advantage of any day anytime.
The currency has also gained popularity over the years. Many people are already doing it and therefore assure you that it is reliable and trying out. Also, the currency is highly volatile, and their price fluctuations over a short period.
If you choose a strategy, research it, and stick to it, you can easily make profits. Your tenacity and proper planning will help you use the digital currency’s volatile nature to your advantage. People lose money during crypto trading because they failed to implement a specific strategy.
It is suitable for international trade.
Cryptocurrencies can help you increase your revenue. You can diversify your business to international borders by implementing cryptocurrency as a payment mode. The currency is not subject to interest rates, transaction charges, exchange rates, or any other levy imposed by the country. You will conduct your business and servicing all your customers at ease at a worldwide level.
All your cross-border transactions and transfers will go through efficiently without complications such as currency exchange fluctuations through the peer-to-peer blockchain process. The currency is universally recognized. Therefore you can use it anywhere, anytime.
It offers minimum transaction fees.
No doubt you read your monthly account statement and get shocked by the number of fees imposed. You experience this, especially when using a bank or credit card Company for transferring funds, writing checks, or any other transaction. You may notice that you lose a large amount of money through transaction fees, mostly if you perform many transactions in a month. It decreases your assets.
Since the data miners that generate cryptocurrencies get compensated from the currency network involved, you will not need to pay any transaction fee. You may only pay if you use a third-party management service for your services, such as maintaining your digital wallet. The fees charged are, however, still lower than those you incur from traditional financial institutions. Using cryptocurrency will save you from significantly reducing your assets.
You will get faster transactions.
Transaction fees are not the only downside to traditional financial systems. Sometimes you will need to wait a day or two, or even longer, for your funds to reflect in your account. Using cryptocurrency will save you all the hassle.
Cryptocurrency transactions take place in a matter of minutes. All your transactions get updated almost immediately to your account, making it easier to keep track of your assets. It is faster than the processing speed by banks and other traditional financial entities.
It is accessible
It is a global currency that is easy to access. You may not have the right to utilize traditional exchange channels in your country. Cryptocurrency comes in handy in such cases. You can now create your account, get a wallet and use it for your transactions. All you need is to have an internet connection and a portable smart device, whether a laptop, desktop, or smartphone. You can start at any time.
It is portable
You may find it hard to carry other forms of money in large amounts. To do so, you will need to use banks, credit companies, or other financial institutions to store the money and go through a long process whenever you want to move it. Virtual currencies are easy to store, and you can move them around efficiently. You can store cryptocurrencies in a memory card!
The use of blockchain and cryptocurrency will eliminate redundant complex procedures and the need for banks. This currency’s portable nature makes it ideal to use, especially if you want to store and transfer a large sum of assets.
You can make your transactions more private.
Traditional financial systems involve a lot of paperwork and cross-checking. Whether you want to write a check or send money, they will need to examine your account first and maybe go more in-depth and check your financial history. The request to do any transaction depends on your financial statements. In some cases, your bank may deny your transaction request.
Another great advantage of using cryptocurrency is confidentiality in the transactions. Your unique exchange will be between just you and the other party according to the negotiated terms. The best part is, you can send the exact amount you wish to send without any restrictions from a third party. The privacy offered by cryptocurrency protects you against identity theft, a significant problem when using traditional financial institutions.
Cryptocurrency will get you ahead of your competition.
As a business owner, you are continually looking for ways to please and maintain your customers while increasing your clientele. Using cryptocurrency as a payment method will help you win over new customers. Especially those that are more digitally inclined in their transactions, gaining the upper hand over your competitors. Your existing customers will also prefer to stick with you since they see you are looking for intriguing ways to ease your service delivery.
The world is shifting to virtual technology, and digital currency is the way to go. Cryptocurrency is an improvement of the traditional financial systems through increased efficiency and speed in processing transactions. Along with its confidentiality and high security, there are beneficial reasons why you should choose cryptocurrency.
Post source: Compelling Reasons to choose cryptocurrency in 2021