Bitcoin is once again headlining global news as the cryptocurrency continues to write history. Recently, its value reached a record-breaking digit, which left many people around the world speechless. Thanks to the fact that Bitcoin has never been more valuable, the demand for this cryptocurrency is now higher than ever before. 

2021 has marked a good start for Bitcoin and from the signs, the cryptocurrency does not plan on stopping down. The difference from the record-breaking value in 2017 and now is that Bitcoin topped $19,000 in that year, then plunged in a matter of few days. Now, Bitcoins’ price has been going up for more than a month. Not only that, but it has been more than 2 weeks since Bitcoin reached $30,000 and hasn’t shown any signs of dropping down. 

Since this cryptocurrency is the most talked-about subject these days, we decided to take a closer look at everything that is going on and explain why the demand for Bitcoin is higher than ever before. Let’s check out all the factors.

It Allows People To Make A Huge Profit 

One of the main reasons as to why people want to be included in the Bitcoin business is because this cryptocurrency allows them to make a huge profit. We just stated that the value of 1 Bitcoin has never been higher. Right now, it sits at a little over $36,000, with some experts believing that it can go as high as $50,000 soon. 

But, how do people actually make money off Bitcoin? That is a process that requires a lot of work. Essentially, there are two ways to earn Bitcoins. You either mine them or buy them. Mining them is free, but hard, while buying them is easier, yet much more expensive. 

The process of mining requires Bitcoin traders to record various transactions made with Bitcoin. IN doing so, you are required to solve complex puzzles. The reward for each verified transaction is Bitcoins. After you earn them, you sell them, which is a hard thing to do, considering the fact that the price for 1 Bitcoin changes daily. 

That is when you ask help from the experts. Trading sites are where all the magic of selling Bitcoins and making a profit takes place. Trade sites such as bitcoinprime.io have advanced AI software which analyzes the market and makes a prediction on the future price of Bitcoin, thus helping you decide when is the best time to sell them. Furthermore, this platform has a huge daily profitability rate and counts thousands of registered users from all around the world. 

Timing is everything with Bitcoin and knowing when is the best time to sell it will guarantee you the highest possible profit. So, the chance to make an insane amount of profit is the first reason as to why the demand for Bitcoin is so high. What are the other factors?

Advantages Over FIAT Currencies

Bitcoin has several great benefits and advantages over FIAT currencies. First off, this is a digital currency, meaning that it is fully optimized for online use. While transactions made with methods such as credit and debit cards may take a few days to be completed because they have a certain processing time, that is not the case with Bitcoin. Each online transaction is instant. Additionally, it saves them money with each transaction. Unlike the banks, Bitcoin does not have any hidden or extra fees. General fees for some transactions are also much lower than the standard ones.

Most importantly, Bitcoin also utilizes cryptology to make sure that its users are safe in the online world. As you may know, one of the disadvantages that came with the Internet is the spike in online scams. Thanks to the cryptology, Bitcoins users gain a certain level of online anonymity, thus increasing their security. 

Advantages Over Other Cryptocurrencies

The last factor as to why the demand for Bitcoin’s demand has never been higher is the fact that it also holds many advantages over other cryptocurrencies. Its infrastructure is much bigger, Bitcoin is far more stable than other cryptocurrencies, much more valuable, and thanks to its popularity, some experts actually believe that Bitcoin has the potential to become the universal payment method/currency at some point in the future.