Bitcoin has had quite a fantastic year so far. This cryptocurrency has managed to reach heights that no one thought was possible. Not only did the reported number of Bitcoin users rose to over 5 million, but this cryptocurrency managed to sky-rocket in its value as it reached an all-time high in April when it went over $63,000.
Its massive value is the reason why each day, many new traders are keen on registering to Bitcoin’s network and giving their skills and knowledge a try. With that being said, we wanted to take a look a closer look into this cryptocurrency and name a few things that you should know about it. Let’s start.
It Has a Lot of Advantages Over Regular Payment Methods
First of all, Bitcoin has quite a lot of advantages over regular payment methods. These advantages are the reason why so many people are fond of it. Bitcoin is far more secure than regular payment methods, provides users with instant transactions, and because banks are excluded from every transaction, user is void all of the unnecessary fees. So, in a way, you can actually save money by paying with Bitcoin.
And if that is not enough, there is no other currency on the market, whether that is FIAT currencies or other cryptocurrencies that will allow you to make as big of a profit as Bitcoin can. As mentioned earlier, the price of Bitcoin these days is around $40,000, which makes it as valuable as gold. During its peak days, Bitcoin was even more valuable.
Where Do You Trade It?
There are two options when it comes to trading Bitcoin for a profit. The first option is a Bitcoin ATM while the second option is trading sites. Up until recently, ATMs were the only available market, but with the rise of trading platforms such as https://bitcoinera.app/, traders rarely use ATMs nowadays.
After all, trading sites can be accessed at any time and place, as long as you have a stable Internet connection. Additionally, you can trade on all of your mobile and desktop devices, and they are very safe. Finally, trading sites utilize AI systems that are able to accurately predict the near-future price of Bitcoin and that is a massive advantage as it helps you battle its volatility rate.
To gain access to these services, you just need to register. The process of registration requires you to fill out an online application form. After that, you will be asked to verify your identity and once it’s done, then you can trade Bitcoins for a profit.
Using Bitcoin to Purchase Stuff
Earlier in this article, we mentioned that Bitcoin has a lot of advantages as a payment method. But the question is, can you use it to purchase stuff? After all, many of the world’s governments deem it as an outlaw.
The answer is yes. Not only that, but you can purchase goods at some of the world’s most reputable brands. The likes of Overstock, Shopify, Whole Foods, Expedia, Microsoft, and Wikipedia all accept Bitcoin payments. They are very secure and fast.
Will It Rise More in 2021?
Finally, we wanted to take a look at whether Bitcoin will rise more in 2021 or will its price remain around $40,0000. Many experts believe that the best of Bitcoin is yet to come. History showed us that a year and a half after halving events end, Bitcoin spikes in value.
Considering the fact that the last halving was in May 2020, it is expected for Bitcoin to rise in the fourth quarter of 2021. As for the estimated worth, Bitcoin is speculated to rise as high as $100,000.
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