When you think of crypto currency probably the first thing you think of is Bitcoin. However, often the question on people’s lips is whether they should invest in it or not. Crypto currency has high growth potential and can be a great way to easily increase how much money you have. But what is so great about Bitcoin? Find out below!
Bitcoin History
Bitcoin was created in 2009 after the big market crash of 2008. It was made to help people regain control of their financial future and was the first digital currency in the world that uses the peer-to-peer concept. Unlike fiat currencies, there isn’t a way that the government is able to print more Bitcoin and the supply is limited.
Nowadays cryptocurrency is bigger than ever, with thousands of different platforms. The oldest and largest being Bitcoin which has the most secure blockchain, making it one of the safest cryptos available.
Bitcoin Future
There will only ever be 21,000,000 available. Bitcoin provides the world with the first reliable global predictive currency. Many companies have now decided to invest in Bitcoin, as after the pandemic they believe it provides the best investment opportunities and is better for long-term investments.
As there are only so many Bitcoins available it has allowed it to scale to new heights. It has been 11 years now since Bitcoin was created and its prices have soared. It has gone from around $0.50 a coin to over $20,000 per coin. This high ROI has been able to turn investors into billionaires.
Now that Bitcoin is widely known and invested in there are more platforms that are accepting Bitcoin and there are even Bitcoin debit and credit cards that let users spend Bitcoin anywhere that accepts Visa. As it is now easy to spend Bitcoin money, Bitcoin is expected to continue to rise in the future. There are also Bitcoin-based financial products, such as EFTs which help bring the traditional market into the crypto sector.
The lightning Network is an upgrade available that provides Bitcoin with a load of different available functionalities. It has an off-chain solution that enable private payment channels that can eliminate on-chain congestion. This second-layer protocol is great as it allows Bitcoin to utilise new technologies on the market. Oracles being one of these, which are off-chain sensor that can trigger on-chain actions, expanding the usability of cryptocurrencies.
There is never 100% certainty that Bitcoin is going to continue reaching new heights, however it is predicted by many professionals in the financial sector that it will.