Bitcoin has become one of the fast-rising phenomenons of the early 21st century.
Since the publication of Satoshi Nakamoto’s whitepaper in 2009, the emergence of Bitcoin has created a new niche ecosystem referred to collectively as cryptocurrencies.
Bitcoin is the first example of a working digital asset. It is now trendy for people to invest in Bitcoin as an asset. So far, they haven’t been wrong.
We are still in the initial stages of the Bitcoin price rise. And, Bitcoin itself has advantages that other cryptocurrencies don’t offer. It is the reason for Bitcoin’s dominance in the cryptocurrency markets. Here are a few strengths that make Bitcoin a world-class investment.
Bitcoin is Truly Decentralized
Bitcoin has no centralised control. Even the Bitcoin Foundation, whose role was to spread its propagation, has been used to encourage Bitcoin’s adoption, even at the country level.
The miners that determine transaction confirmation on the Bitcoin blockchain are so far apart that control of miners on a global scale is next to impossible. It also helps as price manipulation of the Bitcoin markets also cannot occur.
Bitcoin Transactions are Immutable
The irreversible nature of Bitcoin transactions has made the cryptocurrency be an asset of choice for many people. Other assets usually have situations where reversible transactions occur. It also means that investors take a serious approach to their Bitcoin transactions.No serious individual will give out access credentials to Bitcoin wallets.
Bitcoin’s Blockchain has Top-Notch Security
Bitcoin’s blockchain has some of the highest grade security available on planet earth.
Nobody can hack the Bitcoin blockchain. It has led to many people flocking to the cryptocurrency, as security incidents have led to investors choosing Bitcoin over others. Investing in Bitcoin also has a few downsides. They are below.
Bitcoin is A Volatile Asset
One problem most people have with Bitcoin is its volatility. Prices are never stable and predictable. It has led many investment experts to consider Bitcoin investments to be akin to gambling.
Bitcoin is a Largely Unregulated Asset
The lack of regulation of Bitcoin in many countries is another disadvantage for it. It has led to the proliferation of Bitcoin scams. Many people have lost their monies to criminals who see an individual interest in cryptocurrencies and take advantage of them.
Lack of Acceptability
Bitcoin and cryptocurrencies are yet to gain acceptance all over the world. Because of this, Bitcoin is not accepted in many parts of the world as a valid investment vehicle. As Bitcoin pundits continue to find ways and means to change perceptions, this is bound to change.
The most important thing you must consider for investing in Bitcoin is to do your research (DYR). That way, you can make accurate decisions.
Note: Please do not invest money or assets in the financial markets that you cannot afford to lose. This article should not be construed to be investment advice and is for information purposes only.