How profitable are Bitcoin investments
When it comes to understanding how profitable Bitcoin is, the answer is: it depends on.
The reason for this is that Bitcoin is volatile, and too many factors must be taken into account to understand its profitability. In this article we discuss it!
Bitcoin’s rise has caught the attention of many in the financial world – as it continues to rattle the traditional financial systems. They are a type of virtual currency and the most popular cryptocurrency as of now. It works using a decentralized, peer-to-peer network. Moreover, it is unregulated, secure and global.
Furthermore, bitcoins have low transaction fees and offer more privacy than other payment methods. Bitcoin can be used for a variety of online activities. For example;
- Help to buy goods or services online
- Transfer money from one account to another without a third party
- Store value or wealth without being dependent on a central bank or government entity
The popularity of bitcoins is due to the fact that it offers a unique approach to currency exchange. It is not bound by geographical borders, central banks or governments, and it is easy to use and free.
It is also more secure than other online payment systems, as it is based on a system of secured cryptography and decentralized data processing.
Bitcoin is the most popular cryptocurrency and is followed by Ethereum, XRP, Tether, Cardano, Polkadot, Stellar and USD Coin. Here are some Bitcoin statistics for you to read;
- Bitcoin had a market value of $1,072.21 billion as of February 21, 2021.
- The global blockchain market will go up to $23.3 billion by 2023.
- The highest number of global daily bitcoin transactions in Q1 of 2021 is 367,536.
- Between 2012 and 2020 – Bitcoin got 193,639.36%.
Decentralization and ease of purchase
Decentralization and ease of purchase are the biggest advantages of Bitcoin – among many others.
Unlike traditional currencies – Bitcoin does not rely on a central bank or government to support it. This means that the currency is not controlled by any entity.
And this in turn makes it more stable and resistant to manipulation by governments or financial institutions.
Additionally, there are many exchanges and wallets available that allow individuals to easily buy, sell, store and use Bitcoin. For example, MoonPay makes it easy to buy BTC – whether you want to buy bitcoin with a debit card, credit card or other preferred payment method.
