Bitcoin has shaken up the world of finance since its inception, acting as the first-of-its-kind currency for authentic, peer-to-peer transactions.
While it’s been around for more than a decade, Bitcoin’s prominence—and cryptocurrency’s prominence, as an extension—has gained traction relatively recently, gaining unprecedented worldwide acclaim in the early 2020s.
While the days of $67,000 Bitcoin have passed, there are still undeniable positives associated with investing in this digital currency. And its continuous contribution to the financial world is surely not going to stop now.
Let’s look at six ways having some stake in Bitcoin can be positive to your life.
1) It’s completely decentralised
The unchanging element of Bitcoin is its decentralised nature. This means that the currency is completely independent of any government or bank, allowing you to make and receive payments without needing approval from other institutions.
Bitcoin allows users to transact with each other directly and securely, without the need for a middle-man. This form of currency also operates under an independent valuation system, meaning that it can be traded, sold and exchanged in a legitimate supply-and-demand economy.
With Bitcoin, the power of your finances is governed by the users themselves. Not the founders. Not any financial institutions. Just the buyer and the seller, on their own, independent accord.
2) It has few transaction fees
Banks frequently charge a percentage of whatever money you send to the intended account. For people who transact using Bitcoin, the fees are often very small and even negligible with big purchases.
This is a good thing because you’re essentially removing the middleman from your transaction. You get to keep a larger chunk of your assets, while your intended recipient gets what they want as well.
Whether you’re sending 1 Bitcoin or 10,000 Bitcoins, the transaction fee of Bitcoin will remain the same depending on the ongoing default fees. It doesn’t increase based on the total amount, unlike other payment gateway methods.
3) It mobilises money faster
You don’t have to wait for banking hours to transact funds. If you want to receive your money quicker, you can do so with Bitcoin from all around the world, like with Bitcoin Australia.
This is a great option if you’re operating a global business and want to avoid the hassle of wire transfers and waiting days for a bank’s approval of the transaction.
Furthermore, you won’t be questioned or limited on the amount you can transfer. This makes it a great choice for entrepreneurs and global workers who might be dealing with large sums of money regularly.
While the standard transaction fee is fast, it can even go faster. All you have to do is pay a slightly higher fee for the Bitcoin transfer a speedier transaction. This can be done on a case-by-case basis, allowing you to customise your payment method depending on the urgency of the situation.
4) It’s a growing investment
The best time to invest in Bitcoin was during its early days. The second best time? Arguably, now.
Bitcoin, just like stocks, bonds, and gold, is a viable investment alternative to cash. It can be exchanged, bought and sold just like any other asset or commodity.
Furthermore, its growth potential is immense. Compared to the growth of bonds and stocks, Bitcoin and other cryptocurrencies are highly volatile. While this can come with its fair share of risks, its benefits are not to be dismissed either.
After all, no one expected the 2018 Bitcoin crash to be followed by its meteoric rise in 2020. So who knows what we’ll be seeing in a few years?
The great thing about investing in Bitcoin is that you have the freedom to put in how much you want, when you want. This makes it suitable for people with limited budgets to dip their toes in the Bitcoin sphere.
You don’t have to put in your entire life savings (and we strongly suggest you don’t, at least not yet!), but having some stake in this currency is a strategic way to future-proof your investments.
5) It expands your horizons
With Bitcoin, the window of opportunities is practically borderless.
Traditional banking systems often impose strict restrictions on cross-border transactions, increasing the difficulty for individuals and businesses to conduct international transactions. In contrast, Bitcoin offers limitless possibilities, being able to be transmitted and received from anywhere in the world with no single institution bogging down this process.
Seeing things through a more practical lens, people from third-world countries in South America, Africa, and Asia can do business with more developed nations without being hindered by the differences in their fiat and the government regulations related to it. It
This, in turn, grants equitable opportunities on a global scale that would’ve been inoperable otherwise, providing stability to people living in a place with unstable currencies. With Bitcoin, businesses can pay skilled workers from overseas, while skilled workers from low-paying countries can exchange said skills to live a better life.
6) It’s a revolutionary way to crowdfund
Whether you’re a digital media creator whose livelihood revolves around donations or an entrepreneur looking to gain capital to fund your venture, Bitcoin makes accumulating financial assets very accessible.
The traditional crowdfunding method can take a long time to process. It can also be limited in terms of payment gateways, as many popular payment gateways are restricted in certain countries.
On the other hand, Bitcoin allows for near-immediate transactions with little fees across the globe. In addition, people don’t have to donate through a middleman too. All they need is a digital wallet and the address of the recipient. This streamlines the entire funding process, gives more money to the recipient, and leads to the flourishing of many businesses on a global scale.