Reasons Why You Should Own Bitcoin Today

Bitcoin has been in the news lately and the average person who has the slightest idea about the finance sector knows how huge the bitcoin move was in 2020. Now more than ever, a lot more people are considering investing in bitcoin and you might be wondering why you should join the train. This article explains key reasons why you should own a share of bitcoin today.

1. The Adoption is Accelerating

The number of bitcoin users has accelerated over the past year, as 2020 recorded 63 million wallet users compared to the previous year that had 49 million users. The reason is not far fetched as more people were exposed to the crypto world and with the consistent spike in price, it was only natural for more users to troop in and get their slice of the cake.

Bitcoin is also being adopted as a payment method. Businesses now include it as one of their payment options considering how seamless transactions are. Also, PayPal recently announced that it would enable users to buy, hold, and sell cryptocurrency. This will have a huge effect in the crypto world while also increasing the number of users.

2. It is a Decentralized Currency

One important thing to know about bitcoin is that it is not owned or controlled by any central authority, which contradicts what mainstream banks and payment sectors are known for. This means you are responsible for your funds and it could also be an advantage in the sense that nothing stands as a middleman between you and your money. This is why bitcoin transactions are usually smooth and fast compared to the traditional banking system.

You can make a transaction across borders within a few minutes, which many people would rather opt for than wait days or weeks to complete an international transfer via a bank.

While this sounds exciting, it could also be a disadvantage. Not being controlled by the government would mean that your transactions are irreversible. Hence, you must be careful not to make wrong transactions.

3. It is the Largest Cryptocurrency

Bitcoin was the first crypto ever created and was launched in 2009 but it has since maintained its status at the top and currently has the largest market cap in crypto with a value of $600 billion. While there are thousands of cryptocurrency today, it is often advised to start with bitcoin. This is because there are readily more than enough resources to guide you and make the process easier for you. Also, you have a better chance of succeeding with crypto that has a proven track record in over a decade.

Bottom Line

There are several other reasons why you should trade bitcoin today, including the lower fees compared to traditional banks. However, as you get started, opt for a great bitcoin exchange that will help improve your experience. You can open an account with bitcoin champion and have access to powerful trading algorithms and beginner-friendly features. More importantly, look for key features that reflect what you want in a crypto exchange platform