5 Reasons Why Bitcoin Still Continues to Be the Top Cryptocurrency in the World

by Susan Paige on May 18, 2020 · 0 comments

Bitcoin, the cryptocurrency is not a trend or a fad. It is a sure and concrete way of working with financial transactions and using it when it matters the most. It is not merely currency, kit is a way by which you can redefine your economies, financial systems and monetary ecosystems. 

Bitcoin’s decade-long existence has seen it coexist with several other cryptocurrencies or Altcoins. Even though many of them have claimed to be bigger than Bitcoin, the results stand for everyone to see. Bitcoin continues to enjoy over 65% of the total cryptocurrency market. This figure is only going to rise in the coming years. 

In this article, we are going to look at five reasons why Bitcoin is still the preferred cryptocurrency of the world. 

Top 5 Reasons why Bitcoin dominates the Crypto Ecosystem: The List

  1. Bitcoin is Real Money, not an instrument or a Tool-

If you want to pay someone’s salary halfway around the world, you can do that with Bitcoin. The person receiving his salary can exchange it with his own native currency at any point. If you want to invest in Bitcoins (like gold) and use it when there are periods of inflation, you can do so. 

In other words, Bitcoin is a recognized and globally accepted form of financial asset. There is no debate around its existence or its value. Bitcoin’s value is not dependent on the success or failure of any one single entity unlike fiat currencies. Where one bank’s failure leads to a trail of destruction. 

  1. Financial Tech Development is independent of Emergencies-

As a financial model, Bitcoin and its transaction networks are constantly evolving. It does not stop, even when there is a natural disaster or an emergency. The Coronavirus pandemic was not enough to stop the Bitcoin Halving from taking place. Bitcoin’s tech is resilient. 

This is something, which is highly desirable when it comes to how you want your money to be. Even if you consider the way the ecosystem, along with the exchanges and the trading platforms work, you will see that it is far more convenient and stronger than traditional models of finance and banking. 

  1. Lightning Fast Payments all over the world-

While Bitcoin and Blockchain had been criticized because only a limited number of payments could go through on the Blockchain, the same has been rectified. The rectification is again a tech innovation, with the emergence of the Lightening Network. 

The Lightening Network has made it possible for people to send and receive small Bitcoin payments in different parts of the world at an astronomically fast pace. Payments conducted through the Lightening Network are tamper proof with no possibility of being compromised. 

  1. The most Secure Financial System ever to be made by man-

Bitcoin and Blockchain is un-hackable, period. For the last ten-odd years, many experts have been trying to find a crack in Bitcoin and its transaction network, Blockchain. However, they have not yet been successful, nor will they ever be successful. 

This makes it a safe option for global corporations who are always worried about sending and receiving huge transactions. This is the reason why many companies have started experimenting with Blockchain technology. 

  1. A Guarantee against the Tyranny and Malpractices of the Government-

We all know how governments are more susceptible to passing bad policies. The corruption, incompetence and short sightedness for political gain blinds them at many levels. This can lead to faulty monetary policies resulting in inflation, recession or even depression. 

Bitcoin is a hedge against all the malpractices of the government. You can compare it with gold. People are using Bitcoin as a safe bet, for a rainy day. 

With Bitcoin trading on the rise with credible and reputed platforms like Financial Peak, we can only expect that more people would start engaging with the crypto. 

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: