Here is what makes Bitcoin a Crypto star

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There are at least 4000 cryptocurrencies in the market today. Some are well-established while some are still paving the path to their future. The bloom of cryptocurrency that happened in the last few years and it is on the fast track to becoming regulated in India as well. The one cryptocurrency which made a name for itself and got the world to believe in crypto is Bitcoin. 

Bitcoin gained momentum in 2011 and is the most popular as well as the most expensive cryptocurrency around the world. 

Here is what makes this crypto such a hit around the world: 

1. The Decentralized Blockchain Technology

One of the factors that made Bitcoin a huge success is blockchain technology. This technology was made to simplify BTC transactions between 2 users without the use of a third party. That is why this technology guarantees important factors like transparency, the anonymity of users, and quick transactions. The data on a blockchain cannot be modified and this makes it a valuable asset for payments, cybersecurity and has innumerable applications. 

2. The first cryptocurrency

Bitcoin was the first cryptocurrency that was introduced. Although it took a while for people to understand the bitcoin technology, once they did, there was no looking back. The maximum supply of bitcoin is 21 million and no one can change that. it cannot be recreated and even the creator cannot change that fact. 

3. It presents an investment opportunity

Bitcoin has a limited supply but the demand is almost endless. This is the reason the cost of a single bitcoin has reached Bitcoin to INR value of approximately 47,28,252 rupees in India. Bitcoin is the kind of investment that does not require a locker, a guarded vault, and the transfer of Bitcoins does not require bodyguards. They can be stored in a Bitcoin wallet and you can use trading platforms to buy or sell. Buying, selling, and storage of assets of this high value has never been easier. You can use a hard wallet or a digital wallet to store your Bitcoins. People who invested in Bitcoin were rewarded handsomely in the year 2020. The price almost increased fourfold and the returns were more than what you would have gotten if you would have invested in gold. Bitcoin has demonstrated the trend of the surge in value when the other sectors have taken a beating. 

4. Accepted and used as currency

Bitcoin gained popularity due to its extensive use by businesses to make payments. There are coffee shops, real estate agencies, and other businesses that accept payment in bitcoin. The volatile nature of bitcoin has left a lot of people questioning the credibility of crypto as currency. Even though it has been accepted far and wide by most countries, there are a lot of countries including India, where it is unregulated by the government. There are a few places across the globe where Bitcoin ATMs have been installed. 

5. Faster and easier transactions

Bitcoin broke the trend of traditional ways to transfer money and made way for faster transactions. The use of blockchain technology allows transactions without a third party being involved in the transactions. Transferring funds through a bank means you end up paying heavy transaction fees and have to wait for days in order to complete the transaction. This is especially useful in the case of international money transfers. 

6. No intermediary

Bitcoin is not dependent on any bank, local authority or government, to do the transactions. That is why it is completely trustworthy and the user gets the benefit of total freedom. This not only saves money but also ensures a safe and private network to conduct your business. 

Future of Bitcoin

You can buy bitcoin from any of the trading platforms. You can buy bitcoin in India and invest in a future that is bright but yet to be determined. Bitcoin can be used as an exchange medium or as a long-term investment too. It is a trusted cryptocurrency that is being accepted in all of the parts of the world and will continue to rise in value as out of the total number of tokens, almost all have been released and the last ones are expected to be released by 2140. It could become the reserve digital currency. There is also a chance that it becomes regulated and can be used to buy groceries and coffee. The growing trend of Bitcoin may dethrone gold as an investment and make way for the “digital gold”. The future of cryptocurrency lies on 2 very important factors and that is demand and perception. As long as Bitcoin is in demand and is circulating as the sought-after cryptocurrency, the value shall remain high.

Bitcoin led the fight for the credibility of cryptocurrency and made way for a new age. A lot of developers followed the footsteps of Bitcoin but none have achieved success like Bitcoin.  

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