Connect with us

Cryptocurrency

Top Five Reasons Why Bitcoins Will Be Your Best Investment For 2018

Published

on

Top Five Reasons Why Bitcoins Will Be Your Best Investment For 2018

Having experienced exponential growth in 2017, financial analysts believe that 2018 will see a further growth in the value of bitcoins. There are currently more than 1,000 cryptocurrencies, but bitcoins still lead. The years to come hold more potential for bitcoins because of the reasons discussed below.

5 Reasons Why Bitcoins Will Be Your Best Investment For 2018:

1. Bitcoins Will be Massively Adopted in 2018

The acceptance and adoption of bitcoins is set to improve in 2018 and beyond. In April 2017, for instance, Japan officially accepted bitcoins as a legal form of making payments. As of December 2017, more than 300,000 retail stores and food establishments were accepting cryptocurrency payments. The bold step taken by Japan set a precedent for other nations to follow.

As other countries such as Argentina, India and Australia work on structures that will help in implementation of digital currencies, bitcoin’s success is helping countries like Japan to be more influential. In the years to come, all nations, whether they are developed or they are still developing, will have fully adopted bitcoins.

As of December 2017, more than 30,000 wallets were being created daily. In fact, there are rumors that very soon Amazon will begin accepting cryptocurrencies. Once such big organizations accept bitcoins, nobody else will be able to stop the growth of bitcoins.

2. Formal Regulatory Frameworks

There are plans by some organizations and countries such as India and Argentina to come up with oversight and regulatory frameworks that will aid in implementing cryptocurrencies. As such, there are very high chances that established financial institutions will invest massively in this new currency. Electronic funds transfers would allow major organizations to start investing in bitcoins.

By so doing, more groups of investors will be able to comfortably invest without the fear of losing their money. CME Group, a subsidiary of BitGo, announced recently that it had intentions of launching bitcoin futures in its first quarter of 2018. This growth of bitcoin derivatives just serves to show how established bitcoins will be in 2018. The entry of large governmental organizations into cryptocurrencies indicate how large the movement will become in 2018 and beyond.

3. Disruption of the Status Quo

Technologies such as Alibaba, Uber and Airbnb have changed how businesses used to be conducted in the past. This is exactly what bitcoins will do with the monetary system. Bitcoins performance is built on blockchain technology. This technology is expanding rapidly and is being adopted by major financial institutions. With more than 1,000 cryptocurrencies being traded today, the monetary system is set for a complete change.

For instance, Ripple (XRP) will completely change how inter-bank and inter-border transactions take place. For a smaller fee, this currency offers a financial payment system that is faster and more convenient. Instead of resisting cryptocurrencies, banks have accepted blockchain technology and are utilizing it to build more secure and transparent systems.

Another cryptocurrency, civic coin, is utilizing blockchain technology in identity verification, business and individual protection. This will give people the freedom to have their identities protected.

4. Reduced Trust in Wall Street

Investors have not forgotten the 2008 financial meltdown. Investors watched in disbelief as their tax money was used to revive the banks that were at the verge of collapsing, yet these banks were the main cause for the crash of the stock markets. JP Morgan was bailed out to the tune of $13 billion. Wells Fargo was recently involved in fraud where they created fake customer accounts so as to improve their stock price.

Most financial institutions no longer trust the Wall Street because of these reasons. They are looking for alternatives venues to invest their money. Bitcoins were created following this great collapse. Investors prefer bictoin payments as opposed to the normal bank transfers because of the shortened duration of a transaction and the smaller fee charged.

Bitcoin transactions are transparent as they bypass the system failures and heavy transaction fees levied by banks. This only means good news for bitcoins.

5. Increased Accessibility of Bitcoins

When bitcoins were first introduced to the public in 2009, they seemed very complicated and only tech-savvy persons could understand what they were. With insufficient information regarding what they were, how they could be used or stored, most people did not find the need to explore their interest in this virtual currency. Nowadays, there is plenty of information on the internet on how to buy, sell or transact using bitcoins.

There are plenty of websites that offer a detailed step-by-step guide on how bitcoins can be bought or sold. Leading retailers such as Expedia and Overstock began accepting virtual currency payments. Many countries are also in the process of establishing bitcoin exchanges that will pave way for the official acceptance of cryptocurrencies. This serves to improve the acceptance of bitcoins worldwide.

 

Copyright © 2019 Bitcoin Cryptocurrency Media Inc. | All Content Rights Reserved