Stories Bitcoin: A Secure Investment for the Future
Bitcoin – A Secure Investment for the Future
Bitcoin is a digitalised currency that is likely to replace the traditional medium of exchange i.e money. A bitcoin is similar to paper money but all the transactions are carried online in this mode of payment with the use of internet. It can be used for making payments for all kinds of assets ranging from investments, international transfers etc to purchases.
Bitcoin provides a fast, cheap, safe and secure transaction alternative but very few individuals are willing to take the risk. Though, due to recent price surges bitcoin has gained momentum and changes can be observed on the investment front of bitcoin . But the question that still remains unanswered to many and lingers onto their mind is that, Is Bitcoin a secure investment?
Btcoin is a user as well as a tech friendly digital currency and thus the public can access it easily. But since it is a new technology not many people are able to invest and show confidence in the currency. Thus, considering the time aspect, bitcoin has popularized itself in a very short span of time. Bitcoin prices have increased and continue to dominate the market, making many individuals interested in bitcoin investments.
Bitcoin does not require any intermediary to complete the transaction process. No one owns or controls bitcoin. Thus, neither does a central bank nor the government has any right to control its circulation. It is a global currency and is obtained by the process of mining.
The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The first participant who solves the puzzle gets to place the next block on the block chain and claim the rewards.
Bitcoin is a very volatile currency because of which its risk is high. Bitcoin prices fluctuate on an hourly basis because of which the investor’s fear the uncertainty of its value. Thus the bitcoin market tends to be unpredictable.
Bitcoin transactions are easily accessible as they are visible to the user in a ledger format on your bitcoin exchange or bitcoin wallet. It guarantees complete monitoring of your transactions on your PC, mobile phones etc.
Due to lack of regulations, many potential investors are shying away from the cryptocurrency. There exist very few bitcoin holders and bitcoin in circulation as of now but with time bitcoin might replace paper money and plastic money. Thus, only time will reveal the future of bitcoin markets.