The Bitcoin has the ability to change the future of the world. That’s why it can be called as many things like “The future of money”, “drug dealer’s dream”, “transformative” and “disruptive”. It will make the people change the way they bank, the transactions they make and the way of viewing the money. Bitcoins can be easily bought and sold by using the Bitcoin Code Software. The software is very simple to use. One can register it for free, deposit a minimum deposit and start buying or selling bitcoins. It will provide many educational tutorials for the beginners to learn about it in detail.
Potential and the challenges:
- A quick primer:
We people can earn money in many ways by buying and selling goods or things and by doing an exchange of other currencies. The same method is to be followed for bitcoins. We can sell and buy bitcoins or we can exchange it for other currencies. By this, we can earn more bitcoins. The service providers will provide a safe and secured wallet for the traders to store the earned bitcoins. The owners who have wallet can use their bitcoins for any transactions they want to, and the counterparty will accept the bitcoins. The transactions of the traders will be recorded by the bitcoin network for authentication.
- The speculative nature:
The valuation of the bitcoins is not yet accepted by the traders and it is still been a speculative game. The buyers have to pay a premium for the bitcoins they buy while they are using it for any illegal activities like gambling and also one can compare the values of bitcoins with the dollars when they buy for legal purchases.
Let us take a look at the potentials of bitcoins:
- The bitcoin wallet value increase from 3 million to 8 million.
- The number of traders who are buying bitcoins has increased from 36,000 to 82,000.
- There are ATMs for bitcoins. It also got increased from 4 ATMs to 340 ATMs.
- The Bitcoin trading volume has also increased.
- Future of bitcoins:
The bitcoin transaction will not charge any service fees as there is no central bank interference. For example, if we want to withdraw the amount from a bank, the bank will charge some service fee and when we buy a house, we have to pay registration charges. But, here, there will be nothing like that. One can have a transaction with no service charge.
Thus conclude that there is no other cryptocurrency available in the market with these potential and it is just a king in the world of cryptocurrency.