When it comes to buying Bitcoin, the value aspect shouldn't be the only thing we should be concerned about. We will give you 8 reasons to buy Bitcoin without regard to the value of this coin.
One of the first things people keep an eye on when buying Bitcoin is its current price. This is understandable because many people use Bitcoin for trading purposes. However, many of them often make the fundamental mistake of focusing too much on the volatility of BTC prices. You may have heard arguments like these:
“I missed buying opportunities before prices increased. I will wait for the price to drop and then come back in. ”
It is this psychology of over-focusing on this value that inadvertently scares those who intend to buy Bitcoin. Sometimes, it also makes some people even though they have experience in Bitcoin trading to hesitate before making a decision.
Therefore, we want to give you a different perspective when it comes to buying Bitcoin. We'll give you 8 reasons to buy Bitcoin. We hope to be able to convince you to view Bitcoin as something more than just a transactional asset. We want to help you stop worrying too much about the price.
We want you to see Bitcoin as ...
1. Tool against inflation
To put it simply, an anti-inflation tool is an investment that you use as a B option in case your assets, such as cash, are devalued due to inflation or other causes. With the emergence of more and more economic relief packages around the world, the growing global money supply is forecast to lead to increased inflation. As a result, the $ 100 you own today will buy fewer goods tomorrow.
However, the same thing will not happen to Bitcoin. The maximum number of Bitcoin that can appear in this world has been fixed at 21 million (in fact, the exact number is a bit lower, but let's just round it down). At some point in the future, demand for Bitcoin will exceed supply as more and more people use it, especially as digital payments are becoming more popular than ever. This makes Bitcoin an effective anti-inflation tool.
2. Bitcoin has practical uses
Paper money must be said to be extremely filthy. The act of using paper money now not only makes us feel still in the 20th century but also a carrier of coronavirus or other bacteria. And in times when the world faces pandemics like today, digital payments have proven their usefulness. With new apps and new payment options for cryptocurrencies, more and more of us are using cryptocurrencies to buy breakfast or send money to friends and relatives.
As more and more people are familiar with the kind of technology that makes Bitcoin payment feasible, there's a good chance that someone will find new uses for them. Even when large fast-food chains like Burger King have started accepting Bitcoin payments, you know we are about to make new advances.
3. Global-scale investment
When choosing which assets to invest to make a profit for the future, few options are as global and accessible as Bitcoin. It is one of the few assets that people from many different avenues can invest, with the only requirement being an Internet connection. (Sometimes you don't even need to have a network.)
Bitcoin does not distinguish whether you are on a cruise ship anchored in the Bahamas or taking a tram to work in Delhi or Manila. You can also buy or sell Bitcoin while doing the above. Unlike many other asset classes, which impose a lot of requirements and limits on investors, Bitcoin does not require such difficulties.
4. High-performance assets
While you're engrossed in seeing Bitcoin price drop $ 100 or $ 200 today, then raise $ 300 tomorrow, many people know price analysis becomes their official business and experience the whole picture. Many veteran investors bought Bitcoin at $ 7,000 in January, suffered a drop to $ 4,000 in March, ended April at $ 8,000, and confirmed Bitcoin as a performance asset. best this year. And that is only 2020 alone.
Look at it from year to year. In the last 5 years (from 2015 to 2019), there have been 4 times Bitcoin ended the year at a higher price than the beginning of the year. Although we promised not to mention the value aspect of this article, we mean the long-term outlook here. Practice changing your mindset to see only your immediate gains and gradually HOLD.
5. Attracts the attention of investment organizations
This year's Bitcoin market is very different from that of 3 years ago. With the emergence of more and more Bitcoin services around the world, the market has shown its maturity and immense potential still cherished.
Fidelity Investments recently said that of the 800 investment institutions in the US and Europe surveyed this year, more than 280 organizations revealed they were holding Bitcoin or other cryptocurrencies. This gives you more reason to believe that Bitcoin is no longer a "virtual" asset.
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6. Brings financial integrity
You should not be concerned about large institutions investing in Bitcoin. The reason is that Bitcoin is a more comprehensive financial system, both when you join and stay in it. You will spend less to buy, use, or deposit Bitcoin when compared to traditional banks.
For many people whose access to banking services has been closed for some reason, Bitcoin offers the opportunity to become part of a new and superior financial system. In addition to the growing ecosystem of cryptocurrencies, with additional services such as loan savings and staking gradually gaining wider acceptance, you will have more incentive to stay.
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7. Friendly assets
Besides being financially inclusive, another advantage of Bitcoin is its 24/7 accessibility. While traditional markets operate in the same time frame as your office hours, with Bitcoin, the market is available 24/7. You can enter and exit the market at any time that you are most comfortable with.
What makes things even more appealing is the emergence of more and more products on cryptocurrency trading platforms like Binance, allowing users to trade and exchange a variety of assets, including fiat money and other cryptocurrencies.
8. Decentralized
Finally, after all, aspects of trading, investment, and applications, buying Bitcoin is an act of support for a brighter future for the world's financial system. It shows a newer and more comprehensive way of using currencies on a global scale. It represents the power of technology to redefine the way we perceive money and create more freedom by removing the institutions and intermediaries that are complicating it.
In other words, when you buy Bitcoin, you don't buy just one type of asset. You are buying yourself a future.
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