Bitcoin is labelled as one of the greatest inventions in the modern era. It presented us with a new way to pay for products and services and in doing so, made all regular payment methods look extremely obsolete.
But, even though Bitcoin is far superior to other methods, it is still deemed as an outlaw currency by numerous governments around the world. Due to the fact that they cannot control it and that it is self-sustainable, they don’t want it interfering with the global financial industry.
Thanks to the fact that Bitcoin has over 5 million users and its network is ever-growing, some experts believe that a time will come when a majority of the world’s population uses Bitcoin and governments will have no other option but to legalize it. With that being said, we wanted to name a few reasons why it should be a legal currency, but before we do that, let’s see what is Bitcoin mainly used for today.
What is Bitcoin mainly used for today?
It is no secret that most of the people that sign up for Bitcoin’s network are in it for profit. Thanks to the fact that Bitcoin is valued at more than $55,000 (April 2021), thousands of new traders join the network and start trading with this cryptocurrency.
Trading sites are the platforms that help them make money. Not only do they act as marketplaces, but reputable and trustworthy sites like https://bitcoin-code.io/ even help traders maximize their profits. These sites utilize AI systems that collect data about Bitcoin from the market with the purpose of making accurate predictions on Bitcoin’s future fluctuations. The results are then shared with the traders who have intel on when is the best time to sell their assets, thus generate the highest possible profit.
Thanks to these unique services, many traders are able to have a decent profit. Not only that, but it was reported that there are around 100,000 millionaires in the world who managed to become wealthy by trading Bitcoin with these types of tools.
Now that we’ve gotten that cleared out, let’s check out some of the reasons why Bitcoin should be legalized.
Bitcoin is synonymous with security and safety. It utilizes a method called cryptology. This method hides the information that is transferred between the serves by using codes. In doing so, it provides its users with a certain level of online anonymity, which greatly increases their security.
Considering the fact that we live in a time where online scams are taking place daily and many people fall victim to them, online security is a major factor and Bitcoin can help you be secure.
Instant online payments
It is a well-known fact that most of the payments done today are electronic. We use credit and debit cards to buy products more than ever before and cash is slowly becoming very obsolete. But, even though credit/debit cards are the most preferred method, they are not the best.
Since banks process every transaction, it may take up to 7 business days for transactions to be completed. On the flip side, online transactions with Bitcoin are instant. This is a digital currency that is fully optimized for online use, hence it is far superior to any other payment method.
Bitcoin is better than any other cryptocurrency
Lastly, Bitcoin is by far better than any other cryptocurrency. Its network is way more stable, the infrastructure grows with each passing day, has greater liquidity, and there are already millions of people that use it. Not only that but when it comes to security, Bitcoin is second to none.