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  • Monday, January, 2021| Today's Market | Current Time: 07:01:12
  • There are many talks and rumours of how our future in terms of payment methods and accepted currencies will look like. Many believe that since the world is getting more connected as each day passes, it is only a matter of time before all countries agree that one currency should be universal and accepted in every corner of the planet. One of the solutions that is the most practical and most logical is Bitcoin.

    This cryptocurrency revolutionized the financial sector and already counts millions of users around the world. It is a user-orientated method which is why it received a warm welcome from the people and that is why they are more than open to using it. Bitcoin also has tons of advantages over the other currencies and that is the topic that we decided to cover today. We are going to name the advantages that Bitcoin has over FIAT currencies, but also some of the advantages that allowed Bitcoin to gain leverage over other cryptocurrencies. But, first, let’s see what is the main use of Bitcoin these days.

    Making Money With Bitcoin

    As you may know, Bitcoin is mainly used these days as a way to make money. There are countless stories of how this cryptocurrency managed to turn people into overnight millionaires. And that is no wonder, considering the fact that it is extremely valuable. 

    As of January 2021, the value for 1 Bitcoin is over $37,000, which is an astonishing number. After traders earn Bitcoins through the process called mining, comes the part of selling them. In this part, miners are aided by trading sites. These platforms have the necessary tools which can give miners an insight on when is the best time to sell this cryptocurrency. Timing is very important here, as Bitcoin’s price can change in a matter of days. The better your timing is, the bigger your profit can be. 

    One of the most reputable sites of this character is https://bitcoinstorm.io/. This platform uses an advanced AI software which takes all of the data on Bitcoin, analyzes it, and then provides you with the information on when is the best time to sell your Bitcoins. It also has a huge success rate as its daily profitability rate is very high. The success is what drove thousands of people from around the world to this platform. 

    Now that we’ve made it clear on how people make money off Bitcoin, let’s divert our attention towards the main topic of this article and layout all of the advantages that Bitcoin has over its competitors.

    Advantages Over FIAT Currencies

    The main reason as to why Bitcoin is so loved is because it has tons of great advantages over the FIAT currencies. For starters, we just mentioned that it allows people to not only use it to purchase goods, but it also allows them to make a profit. 

    Next up, this is a digital currency, which means that it is fully optimized for online use. Every transaction made with it is instant. If you take credit/debit cards as a comparison example, you can see just how superior Bitcoin is opposed to them. When making an online payment with cards, it may take up to several days before the transaction is complete. That is due to the fact that transactions made with cards got through a processing period which takes time. 

    Bitcoin also gives its users a certain level of online anonymity, which is a massive benefit. As you may know, one of the biggest disadvantages that came with the rise of the Internet is online scams. Thousands of people fall victim to scammers and hackers. Thanks to the fact that your online security is increased with your anonymity, Bitcoin minimizes the chances of you being scammed. 

    Finally, this is a decentralized currency, meaning that it is not controlled from one centre (banks, governments). By using Bitcoin, people actually cut the middlemen and do not waste money on added or hidden fees. General fees for transactions are also much lower. In short, you can save money by using Bitcoin, which is more than a reason as to why you should start trading with it. 

    Advantages Over Other Cryptocurrencies

    As for advantages over other cryptocurrencies, Bitcoin has a few of those as well. It is by far the most stable, the most used, and most valuable cryptocurrency. It also has a much higher future potential and puts and emphasize on the user anonymity much more than other cryptocurrencies.