Have you been thinking about investing in bitcoin? You may have heard about it and want to learn more. Or you’re just curious about the high value of bitcoin and want to know if this is a good investment time.
Either way, here are four reasons why now may be the best time to purchase bitcoin to get on board with blockchain technology:
Low inflation risk
Bitcoin is a deflationary currency. Unlike traditional currencies, which experience inflation and can be printed at will by central banks, Bitcoin has a limited supply that cannot be changed. As demand for digital currency increases and supply remains constant, its value will likely increase.
High liquidity
Bitcoin’s high liquidity is one of the reasons why it can be used as a store of value. Unlike gold, which you cannot use as a medium of exchange or payment, bitcoin can be sent easily and quickly to anyone worldwide using just an internet connection and a mobile device.
In addition, the low transaction fees associated with Bitcoin make this form of payment highly convenient for small transactions, such as buying coffee or groceries.
Bitcoin has high liquidity because it is easy to buy and sell large amounts at any given time without affecting its price too much or causing shortages in supply like traditional investments to do.
Simple mobile payments
You don’t have to carry cash around with you anymore. Bitcoin is a digital currency, and you can use it to pay for everyday things like buying groceries or paying for gas. You can also send bitcoins as gifts or donations to friends and family in other countries without worrying about the exchange rate – the only thing that matters is how much bitcoin you have.
Bitcoin was explicitly designed so that anyone can use it regardless of their location or age, which means that it works well for people who don’t have access to credit cards or banks because of their age or location (or both).
For example, suppose you live somewhere without any traditional banking infrastructure. In that case, investing in bitcoin will give you an alternative way of storing value long-term while still being able to send money across borders easily and cheaply.
Learn more about whether is it too late to invest in Bitcoin.
Lower fees
Another benefit of using Bitcoin as a payment method is avoiding paying for intermediaries. Credit card transactions, bank transfers and other traditional payment methods all involve fees for the intermediary. Therefore, you pay a fee to the credit card company for processing your transaction and to your bank for processing the transfer between accounts.
The result is lower costs – both in terms of time and money – which is especially beneficial if you’re sending small amounts of funds frequently over time because it will save you on both capital outlay and maintenance costs over time.
With the support of SoFi experts, “Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic are available to trade, and up to 40 other coins will be available to follow in real-time.”
Whether you are a seasoned investor or just starting out, it is essential to understand the risks and rewards of investing in bitcoin. While many people are still skeptical about cryptocurrencies and their underlying technology, there is no denying that more people than ever before are buying into the idea of digital currencies as an alternative investment vehicle.
