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Why Are People So Fond of Bitcoin?

Bitcoin is one of the largest innovations in the financial sphere in the modern era. This cryptocurrency provided users with a new and revolutionizing payment method which has tons of great advantages over the regular currencies.

One interesting fact about Bitcoin is that to this day, no one knows the true identity of its creator. All they know is this individual goes by the name Satoshi Nakamoto. It is presumed that he is an Asian male and that he is in his mid-40s. He created Bitcoin in 2008 and made the first transaction in 2009. Today, Bitcoin is one of the most profitable currencies in the world and many believe that it has the potential to become the universal currency soon.

Speaking of its profitability, thousands of people have managed to make a lot of fortune by using it. These people are called miners and they stack up Bitcoins, then sell them. Considering the fact that the current value for 1 Bitcoin is a little above $10,000, and 2017 was the year when it peaked at over $19,000, you can imagine how much of a profit these miners can make.

To make things even better, several factors indicate that its value has the potential to spike again and maybe even top the 2017 record. First of all, Bitcoin has never been more stable. Its infrastructure is growing and its volatility rate has recorded its second-lowest rate. Why is this important? The only time when Bitcoin’s volatility was this low was shortly before its value peaked in 2017. Many experts believe that Bitcoin’s value will go over $20,000 by the end of 2020, which is great news to all those that are looking to mine it.

If you are just getting into the world of trading with Bitcoins, it is important to find a reliable source which will do all the hard work for you. One reputable platform that has an auto-robot with a huge daily profitability rate is https://bitcoincompass.io/. This platform has thousands of users who managed to make huge profits in a short period.

As each day passes, Bitcoin’s popularity rises, which sets the question: why does this cryptocurrency is so well-accepted by the people? Why are they so fond of it? We decided to take a dive and try to answer these questions by explaining some of the best features that this cryptocurrency has.

Self-Sustainable and Profitable

One feature that separates Bitcoin from the regular currencies, is that unlike the fiat currencies who are regulated by banks and governments, Bitcoin is self-sustainable. There is no central regulatory body, the users regulate it, which means that you are in charge of every Bitcoin and you have the complete power of deciding how to spend it.

That is why many people used Bitcoin to trade it and make a profit off of it. By mining it and using the help of some platforms like the aforementioned Bitcoin Revolution app, they can make a lot of money and even make the mining process as their main job occupation.

No Hidden/Added Fees

We all know how banks charge all types of added or hidden fees to the users for various transactions. Since Bitcoin is not controlled by the banks and it is self-sustainable, users actually save a lot of money when trading with it.

Not only do they save a lot of money, but the general fees for international transactions are much lower than the standard. People will always prefer using the most cost-effective method and save as much money as possible, which is exactly what Bitcoin provides them with.

Fast Transactions

Since Bitcoin is a digital currency, it is fully optimized for online use. Each transaction made with it is instant. Other payment methods, such as credit and debit cards, may take a few days to complete one transaction since the banks have several verification steps. That is not the case with Bitcoin. By using it as a payment method, you will experience far more efficient and more effective transactions.

User Anonymity

Finally, we get to one of the biggest advantages that Bitcoin has. This cryptocurrency provides users with a certain level of online anonymity, which is a very beneficial tool, especially in times like these, when online scams are happening every day. Thousands of people fall victim to scammers and hackers who rob them of their money. But, thanks to the user anonymity and the fact that users are not required to provide a lot of personal data, the chances of a Bitcoin scam are slim to none.

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