Bitcoin is a cryptocurrency, aka a virtual currency that enables its investors and users to make transactions without involving banks. Bitcoin is a way of transfer that is free from administrative authorities incurring low transaction costs. Bitcoin’s profuse performance as an investment and as a currency has drawn conventional and institutional investors’ attention. Eric Dalius Bitcoin experience shows some investors are wary due to its unpredictability, but many are willing to take the chance to gain from a bitcoin investment.
Eric Dalius Bitcoin: Benefits of investing in Bitcoin-
Owing to its digital and unique nature, it has some critical advantages over traditional forms of currency. According to Eric Dalius Bitcoin experience, a few of the benefits of Bitcoin investment are:
One of the primary things, which attract investors worldwide, is its characteristic of user autonomy. It allows its users to control their money and make transactions without dealing with intermediaries like the government or banks. Thus it grants its users and investors more independence as compared to fiat currencies.
Liquidity is one of its predominant features. It has established itself as one of the highly liquid assets thanks to online trading, exchanges, and brokerage platforms. You can trade it effortlessly and simply for other assets like gold or cash at once. Its liquidity makes it an excellent short term investment. It is also suitable for a long term investment because of the increasing demand for digital currencies in the market.
Expulsion of Fees (Banking) –
Cryptocurrency transactions have standard charges, namely, maker fees and taker fees, but bitcoin users are not bound to conventional banking systems. They don’t need bank accounts for bitcoin. Thus there are not any maintenance fees and no requirement of minimum balance. They don’t have to incur any overdraft charges or deposit fees, or any other banking costs.
Little Transaction Fees –
Bitcoin transactions do not have intermediary organizations’ involvement; the transaction costs happen at highly reasonable rates. It proves to be beneficial for people who travel frequently.
Fast Transactions –
Transactions in bitcoin happen faster than traditional currencies since they do not include typical waiting periods or require any authorization, making it a very convenient mode.
Users only need a computer or smartphone to make a bitcoin transaction. So, it is theoretically accessible to a larger population than conventional banking systems and any other modes of payment.
Low risk of inflation –
Bitcoin is not modulated or controlled by governments or banks, providing immunity against inflation. So, if you invest in bitcoin, you would not have to worry about losing its value.
Discretion is one of the other vital features of bitcoin. A bitcoin purchase is not linked with the purchaser’s identity unless they voluntarily want to publish it. Moreover, an anonymous address is created or changed for users with every bitcoin transaction. So tracing back to the user becomes very difficult.
A convenient method of making transactions –
You need a smartphone or a computer with stable internet to sell or purchase coins, with no hassle of going to banks.
However, just like any other investment, it comes with its few risks, so invest accordingly.