The most popular cryptocurrency has a moment again. But what about the bitcoin hype now?
It’s been almost 12 years since Satoshi Nakamoto developed the peer-to-peer e-cash system that brought us Bitcoin. Millions of people have been buying and selling this decentralized cryptocurrency for years.
So why all of a sudden this global hype? As NordikCoin points out, there are a handful of reasons. Let’s take a look.
1. Bitcoin is hovering around the $ 20,000 mark again
Bitcoin hit an all-time high in 2017 when the price peaked at $ 19,783. Nowadays, cryptocurrency is again hovering around the elusive $ 20,000 mark.
Its volatility may deter many people from investing in it, but rarely can anyone resist right now. Wouldn’t you like to get your hands on some BTC that are worth this much money? We know we would.
If there was ever a time to start mining Bitcoin, it would be now. And who says this crypto won’t break another record? The price can very well go through the roof.
2 / The coveted crypto could be heading for mass adoption
PayPal has just launched a cryptocurrency service, to one of the newest companies to introduce crypto, including bitcoin. US based users can now buy, hold or sell digital currency directly through the platform.
Many other companies are also integrating cryptocurrencies into their business, which is excellent endorsement. Banks are also slowly jumping on the bandwagon and joining the hype.
All of this means that Bitcoin is becoming more accessible. That’s why more and more people are buzzing away and hurrying to get their piece of the cake.
After all, one day that delicious cake will be gone, which leads us to the next point.
3. There is a limited supply of BTC
Bitcoin supply has a limit of 21 million BTC according to a predefined protocol.
Until now, over 18.5 million BTC were minedwhich leaves less than 2.5 million BTC.
However, thanks to the halving of Bitcoin, the rest of the BTC that people can mine won’t be around until 2140.
The Bitcoin Halving is an annual event that cuts the rewards for miners in half. Every year miners receive 50% fewer coins than in the previous year for adding new blocks to the blockchain.
But, as NordikCoin explains, when the supply decreases, the value of Bitcoin increases as there is this limit of 21 million. Demand is increasing accordingly.
So it’s clear why big companies are implementing it and slowly triggering mass adoption. And who knows, the protocol may change to allow for an increase in supply. Wouldn’t that be a pleasure?
4. You can spend bitcoin on a range of products and services
thousands of Merchants all over the world accept bitcoin as valid means of payment – more than 15,000.
You can buy virtually anything with Bitcoin, including clothing, accessories, groceries, electronic devices, home appliances, games, jewelry, event tickets, software, and more.
You can book vacations through travel agents, donate to charities, buy or rent a car, pay bills, pay for web services, and more.
With so many options available, mass adoption might not be that far-fetched.
5. Bitcoin could be a hedge against deflation
The value of fiat currencies, especially the US dollar, continues to decline amid the ongoing pandemic. Worse still, economic problems continue to grow as commodity prices soar.
Because of this, many organizations are currently investing in Bitcoin. An example is square.
Square recently bought $ 50 million in bitcoin, said the company believes in the future potential of cryptocurrency as a global currency.
Many other investors believe that Bitcoin could be a hedge against deflation, especially since it cannot be devalued like fiat currencies.
However, while Bitcoin is inflation resistant, its volatility remains an important factor to consider. If everyone suddenly invested in them, the price could go up before it goes down dramatically.
6. You can buy Bitcoin in minutes
One of the best things about Bitcoin is that you can buy it in minutes.
We strongly encourage you to stop by NordikCoin, an Estonia-based cryptocurrency exchange.
It doesn’t take more than a minute to create your account on the platform and receive your own free bitcoin wallet. You can log in with various electronic ID solutions and buy Bitcoin with VISA or MasterCard.
Buying couldn’t be easier. All you have to do is enter the amount you want, select your fiat currency, hit the “Buy Bitcoin” button, and checkout using your preferred payment method.
7. Bitcoin exchanges are transparent and secure
The whole purpose of Bitcoin and other cryptocurrencies is to make online financial transactions more transparent and secure.
Because of this, BTC runs on a blockchain, a publicly distributed ledger that contains immutable records of every transaction. The ledger is decentralized, meaning there are no intermediaries.
More importantly, no one can change the records, leaving no room for fraudulent transactions or theft. All data and digital money passing through the system is completely safe, including your Bitcoin wallet.
The blockchain-based ledger is encrypted and nobody but you has the decryption key required to access your wallet.
All of these aspects of Bitcoin make this currency so attractive.
Have you joined the bitcoin hype?
Mining, buying, and selling Bitcoin can give you a plethora of benefits. So what are you waiting for? Get on the train and take part in the exciting ride! You never know – you could turn your whole life around.
If you still haven’t joined the hype, now is the time. Take the opportunity to get your hands on BTC and enjoy a lot more convenience with your online payments.
Register with NordikCoin today and join thousands of happy users in one easy, safe, and affordable place for all of your cryptocurrency needs.
The platform offers military-grade encryption, first-class security and a multi-signature system to prevent unauthorized access. So get your free Bitcoin wallet today and start trading!