The future of Bitcoin: too late to get into cryptocurrency?
For the last few years one of the most spoken news in the financial world was the unbelievable growth of Bitcoin price. For many people it was difficult to imagine how something that cost several dollars skyrocketed in price just for three years? At that moment people started to think that perhaps Bitcoin got the great future and they were right.
Unfortunately, it’s hard to predict Bitcoin value because it’s totally depends on its demand on the market. However the fact is that all this time should be considered as the childhood of cryptocurrency. And this is quite reasonable excuse for high volatility. Later digital currency will be more stable.
When you get right down to it, the future of Bitcoin is even more predictable than fiat money. You know for sure that emission of bitcoins is limited, which gives you guarantee that you will not suffer from inflation. In addition, political instability or economic issues do not have any impact on bitcoin rate.
The last fact frightens the governments of many states, because first of all it leads to loosing control over the money stock. Some countries even think of creating its own digital currency, for example UK and Russia while Ecuador has already done it. The reasons for eagerness to keep the power are clear. Actually it is the best evidence to prove that Bitcoin is the alternative money system with its great advantages. And it really works. In terms of these facts in future Bitcoin can be good substitute for the traditional banking system, why not?
Although it is impossible to say for sure whether it would be another chance to become a millionaire due to extremely high bitcoin rate or not, but to learn how to use cryptocurrency can be helpful. To get into Bitcoin is even easier than to learn how to make traditional payments. Besides every payment system, as well as every bank, has its own terms and conditions that can vary that much. While the procedure of Bitcoin payments is simple and common for all the users in every country.
Legal digital money is a matter of time, someday it will replace our traditional fiat money. The grounds are quite simple for it:
- Сonvenience. There is no need to exchange the money to the local currency if you are travelling.
- Fast and low-cost transactions. Besides no one can freeze your account.
- Deflationary currency. This fact enables purchasing power growth in future.
Moreover more and more Bitcoin ATM machines appear, the number of big financial institutions that decided to get into Bitcoin is also growing. The major electronic commerce companies spend huge amounts of cash on credit card processing fees. For example the expenses on banking fees of Amazon amounts to $2.6 billion per year! So working with bitcoins people can make their business more profitable. There are 5-10 million BTC users all over the world (the exact number is unknown because of anonymity) who realize future belongs to Bitcoin.
So it is never too late to get into Bitcoin.