Bitcoin has been the most emblematic innovation of the past decade. Hailed by fans as a market-disrupting liberation. Nevertheless, its volatility is the reason we see the crypto giant sweep the headlines on a regular basis. In December 2020, the price of Bitcoin hit $20,000 for the first time in 3 years. In just a few weeks and heading into 2021 with a bang the crypto soared to $34,000.
This leap is said to be contributed to a wave of interest from both institutional and private investors spurred on by the Covid-19 pandemic. So, is Bitcoin a hedge against inflation? A Currency? Or Simply just another asset for people to take a punt on? Here we are settling the score on the role it plays and why being part of the Bitcoin movement is the right move.
Hedge Against Inflation
One of the many benefits of being part of the Bitcoin craze is that inflation has no impact on its value. Whereas with more traditional currencies price movements can largely be affected by government’s needs and requirements.
Banking the Unbanked
With a large proportion of the world living in an industrialized country, some may forget that there are people around the world that don’t have access to banking services. Why? It’s believed that these countries and the people that live here do not have the financial stability to fund these services. In such circumstances, Bitcoin is a blessing, because without the need for a middleman it is providing unbanked people with access to the necessary banking services.
Effortless & Secure Online Payments
Online payments via credit or debit card are not always straightforward. Worse still, they lack the privacy element. When we purchase online it is imperative that we supply our personal information. Traditional currency lacks the additional levels of confidentiality because banks know everything that we buy. Bitcoin solves this problem. The establishment of Bitcoin has not only allowed us to make instant transactions but in doing so our privacy remains intact. Of course, all transactions are stored in the blockchain. However, the only information that is stored in the addresses of your wallets. With Zeply you can buy BTC in 3 easy steps with no hidden costs and you can rest assured that you have a reliable source to keep your funds.
Decentralized by Nature
Another major driver in Bitcoin adoption is the fact that there is no government control, this is contributed to its high-level of decentralization. Traditional currencies on the other hand, are controlled by financial institutions such as central banks. These authorities can even prohibit you from using your own assets. With Bitcoin that is not possible. You have control over your own money. BTC is stored securely in a wallet and you are free to spend them any way you please, or maybe you prefer to join the HODLERs crew, either way you are the master in your money’s path.
Accelerate your Wealth
It is not breaking news that Bitcoin is a volatile creation. Nonetheless, this volatility presents endless opportunity for people. Buying Bitcoin to make investments with high capital gains is very much within reach.
What if you invested in Bitcoin 10 years ago? That investment today would have made you a millionaire. We invest in any asset with the aim of returning a profit, this is particularly true with BTC. People buy the crypto and HODL their positions at all costs because they are fully invested in the phenomenal potential the security has.
Be Part of the Revolution
The blockchain has been one of the greatest revolutions since the start of the internet. What the blockchain offers that the internet could not is the ability to eliminate the need for intermediaries when we want to send, receive or exchange money online. Bitcoin has undoubtedly played a starring role in the evolution of online payments and will continue to be a leader in driving the future of money forward.
Bitcoin is gold in that it cannot be created arbitrarily. There are and will only ever be $21 million BTC in circulation. Bitcoin is the largest digital currency today in terms of both market cap and price. While many may contribute Bitcoin’s value to adoption and increased use, scarcity is also one of the leading factors. The perceived supply limit of an asset doesn’t magically bestow value to it. However, the belief that there will be fewer opportunities to obtain Bitcoin or that it will exist in the hands of a select few can be attributed to the rise in its value. Basic supply and demand theory.
Global adoption for Bitcoin has grown massively in recent years. 2020 proved a very exciting year for the cryptocurrency with increased interest from institutional and private investors. Such players include PayPal, who have fast-tracked their crypto rollout making it available as a payment to its 26million users. Not only that the number of users of the popular Blockchain wallet was increased from 43 million to 62 million wallets in the last 12 months. Adding to this the number of people buying and holding Bitcoin in their wallets continues to grow.
As BTC’s bull market continues to heat up, we will continue to see increased interest with big players trying to chase the momentum. If this demand continues to grow, this will only mean good things for the price.
All-Time Highs After a Price Crash
Bitcoin has been known to keep us on our toes. The constant nail-biting performances that make people consider if they made the right choice. If you find yourself asking “should I buy Bitcoin?” then a look at historic data may just clear your doubt. It is true that the crypto has been privy to many peaks and troughs over the last decade. Moreover, the “BTC is dead” phrase has rung through the media more than we would like to admit. Nonetheless, it has managed to surpass all-time highs time and time again so there is no reason to think that it won’t do it one more time.
Ready to Unlock Digital Value?
It can be argued that Bitcoin is still in its infancy, but 12 years on and it has overcome all the challenges and doubts that have been presented thus far. Not only that, but it has also come out stronger. Proof, if necessary, that Bitcoin is here to stay and will play a vital role in the future of money. Zeply opens a world of possibilities when it comes to managing your own money, join and buy, sell, exchange and store Bitcoin instantly. Become part of the cryptocurrency movement today.