It is the most famous crypto, practically known to everyone, even to those who know little or nothing about finance. The merit of this fame is given by the fact that she was the first of many of her and that in the 13 years of her life she contributed to making many of her investors millionaires.
You can buy it as an investment for the future, buy and resell it for a quick profit, use it as a currency to buy anything and even self-produce it, thanks to mining or cloud mining.
We are obviously talking about Bitcoin, the creature of Satoshi Nakamoto, still unknown genius, and what this coin has created in world finance.
A coin with many strengths and some weaknesses, factors that we should keep in mind if our idea is to invest in it.
Bit Coin Value
From less than a cent to about 40.000 dollars for a Bitcoin in just over 10 years, a roller coaster that if well mastered can really give excellent results to those who can "guess" the right time to enter and to exit.
An investment that despite being safe, thanks to the many strengths of this coin and its diffusion, however, also has some weaknesses. Factors we need to keep in mind and consider if we want our Bitcoin investment to be profitable.
Let's see our comparative analysis between the advantages and disadvantages of investing in cryptocurrencies and in particular in this currency.
Advantages that can affect the Bitcoin value, related to the use of Bitcoin as a currency and not just as a form of investment:
Bitcoin like other cryptocurrencies allows incredible payment freedom. You can send and receive the Bitcoin without any kind of problem or use the Bitcoin to make purchases. This makes it not only an investment but also a “useful” product with obvious repercussions on its importance.
Any type of payment made in Bitcoin is constantly processed at no cost or with truly microscopic charges. The transaction can usually be of two types, or two speeds. A slow type transaction, the cost of which is zero and a high-speed processing and verification with minimal costs, for a freedom of choice in the name of transparency.
Friend of the merchant.
Unlike many other payment systems that weigh heavily on the seller, the payment made through Bitcoin has many features that make it ideal and welcome even by shops and businesses. For Bitcoin, special commercial programs were created to facilitate the trader in managing transactions. These solutions allow the conversion of Bitcoin into currency and the immediate deposit of the converted value in the bank accounts of the merchants. These solutions are therefore simple to use and immediate, which is why, in addition to the minimum cost of the transaction, they are often chosen and appreciated by various shops and businesses.
Security and control
The management of the transaction is totally in the hands of the Bitcoin user, who has full control over it, with the certainty that no one can intervene from above or secretly.
In fact, to make a payment in Bitcoin it is not necessary to upload or give any personal information. This, in an era where phishing is a daily problem, becomes one of the greatest possible shields against identity theft.
In addition to anonymity in transactions, the Bitcoin user can also protect his money through back-up and data encryption systems.
Transparent and neutral
Relying on a blockchain widespread that guarantees transparency and neutrality, Bitcoin places itself above national or community interests, disconnecting itself from the Ministries of the Economy, National Banks and other financial control bodies.
As we have therefore been able to discover, the advantages and strengths of Bitcoin do not exclusively concern the investment part, but can also fall into everyday life, for ever greater diffusion and adoption over time.