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What is Bitcoin & Why is Cryptocurrency So Popular?

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 many people and many large goldshell kd2 companies are now jumping on the Bitcoin or cryptocurrency bandwagon wanting a piece of the action.

People are total new to the cryptocurrency space are constantly asking this question; “What is Bitcoin really? inch

Well, for starters bitcoin is actually a digital currency that falls beyond the control of any government, it’s used worldwide, and can be used to purchase things like the meat, your products, real estate, cars, and other things.

Why is Bitcoin so important?

Bitcoin isn’t susceptible to things like governmental control and movement in the in the foreign currencies. Bitcoin is backed by the full faith of (you) the individual and it’s really strictly peer-to-peer.

This means anyone complete transactions with Bitcoin, the first thing they realize is that it’s a lot cheaper to use than trying to send money from bank to bank or using any other services out there that needs sending and receiving money internationally.

For example, if i wanted to send money to let’s say China or The japanese I must have a incur of fee from a bank and it would take hours or even days for that fee that money to get there.

If i use Bitcoin, I can do it easily from my wallet or my cell phone or a computer promptly without any of those fees. If i wanted to send for example gold and silver it would require many guards it would take a lot of time and plenty of money to move bullion from specify point. Bitcoin can repeat with a little a finger.

Why do people want to use Bitcoin?

The main reason happens because Bitcoin is the answer to these destabilized governments and situations where money is no longer as valuable it used to be. The money that we’ve; the paper fiat currency that’s in our purses is worthless and a year from now it’ll be worth even less.

We’ve even seeing major companies showing interest in the blockchain technology. A few weeks ago, a survey decided to a handful of Amazon customers whether they would be interested in using a cryptocurrency if Amazon creates one. The results from that showed that many were very interested. Starbucks even hinted about the use of a blockchain mobile iphone app. Walmart has even tried for a patent on a “smart package” that will utilize the blockchain technology to track and authenticate packages.

Throughout our lifetime we’ve seen many changes take place from the way we shop, the way we watch movies, the way we listen to music, read books, buy cars, look for homes, now how you spend some money and banking. Cryptocurrency is here to stay. If you haven’t already, it’s time for anyone to completely study cryptocurrency and learn how to use this trend which would continue to survive throughout time.

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