Bitcoin – king of cryptocurrencies

Ever since its introduction, bitcoin has been a hot topic that nearly everyone is talking about. Satoshi Nakamoto has been credited for the creation of this currency and its ledger started from January 3rd 2009. What makes this currency special is the fact that it is completely decentralized which means that there is no government body or any other kind of authority that regulates it. 

Many people fear the decentralized nature of the currency and believe that people can scam them. This is completely untrue as bitcoin are secured using blockchain technology and the transfer of the currency doesn’t involve any kind of third party. 

Bitcoins can be mined using specialized software which gives it out as a reward. You can also directly buy them or even exchange them for commodity easily. Bitcoins are stored in digital wallets and don’t have any physical presence. When you do any transaction using bitcoins, it directly gets transferred to the receiver’s wallet and the ledger is recorded in your name in the blockchain data.

Why should you invest in Bitcoins in 2019?

  • Better regulation

Due to the exponential rise in the use of Bitcoins, Governments of the world have taken steps to regulate it moderately. This has now significantly reduced the risks and the fears that people had and has made the trade smooth. So this is the right time to invest in cryptocurrency as the money is pouring in the market currently and the prices may rise soon.

  • Widespread adoption of blockchains

Despite the fact that there are more than 1600 different cryptocurrencies in the market, people generally focus on bitcoin. This is because they utilize high profile blockchain technology which makes it safe from cyber attacks and also makes it easier for the investors to keep up with their ledger. By using blockchains, bitcoins allows you to have all the insight of your transaction along with all the details like date time and location.   

Leave a Reply

Your email address will not be published. Required fields are marked *