Bitcoin has been the buzz word in the financial space. As of a matter of fact, Bitcoin has exploded the scene within the last few years and numerous people and many large companies now are jumping on the Bitcoin or cryptocurrency bandwagon wanting a piece of the action.
Customers are total new to the cryptocurrency space are constantly asking this question; “What is Bitcoin really?”
Effectively, for starters bitcoin is really a digital currency that falls outside the control of any federal government, it is used around the world, and may be helpful to purchase things like your food, cars, real estate, your beverages, as well as other things.
Why is Bitcoin so important?
Bitcoin isn’t susceptible to things like governmental control and fluctuations in the in the international currencies. Bitcoin is backed by the full faith of (you) the individual and it’s strictly peer-to-peer.
This means anyone complete transactions with Bitcoin, the first thing they realize is that it’s a good deal cheaper to use than trying to send money from bank to bank or even using some other services out there that demands sending and receiving money internationally.
For instance, if I needed to send money to let us say Japan or China I will have to have a incur of fee from a bank and it’d take hours or perhaps even days for that fee that money to be there.
If I use Bitcoin, I can do it quickly from the wallet of mine or even the cell phone of mine or a computer instantaneously without any of those fees. If I needed to send for instance gold and silver it would require numerous guards it will have a great deal of time along with a wide range of money to move bullion from point to point. Bitcoin can do it once more with a touch of a finger.
Why do folks want to utilize Bitcoin?
The big reason is because Bitcoin is the solution to these destabilized governments and situations where money is not as valuable it used to be. The money that we have now; the paper fiat currency that’s in our wallets is worthless and a year from now it’ll be worth a lot less.
We have even seeing major companies showing interest in the blockchain technology. A few weeks ago, a survey went out to a couple of Amazon customers if they would be keen on utilizing a cryptocurrency if Amazon creates one. buy crypro mining equipment from that showed that many were very interested. Starbucks even hinted about the use of a blockchain mobile app. Walmart has also applied for a patent on a “smart package” that will utilize the blockchain technology to track and authenticate packages.
Throughout the lifetime of ours we have seen changes that are many take place from the way we shop, the way we watch movies, the way we listen to music, read books, buy vehicles, look for homes, now the way banking and money is spent by us. Cryptocurrency is here to stay. If you have not already, it’s time for anyone to fully study cryptocurrency and discover how to make use of this trend that is going to still thrive throughout time.