Should You Invest in Bitcoin?
Cryptocurrency is all the rage right now and it seems as though everyone is getting into it. You may even feel a little left out in the cold if you haven’t yet explored the crypto craze. So, why should you even think about investing in a currency such as Bitcoin?
The Benefits of Crypto and Bitcoin
One of the big problems with regular currency is that it’s centrally controlled by banks. This means that it can be manipulated at will by people who have lots of it and who are in positions of power. It also makes regular currency incredibly insecure and vulnerable to criminal activity.
So, why should you even think to buy bitcoin in Sydney? Consider the following:
- Decentralised: One of the advantages of all crypto currencies is that they are not controlled by any central authority. By design, they are tied to electronic networks that are themselves decentralised and not subject to the control of any single entity. In many ways, this makes it a better kind of currency because it is inherently resistant to control from outside.
- You own it: Unlike fiat currency, the bank doesn’t own bitcoin or any of the other crypto currencies. This also means that they can’t take it away from you once you have it. If you have your bitcoin stored safely in a secure digital wallet, the banks don’t have access to it. They can’t steal it, apply their ridiculous fee structures, or limit your use of it. In this sense, all crypto is personally liberating.
- No theft: You have complete control over who you pay with your bitcoin. Just think about what happens when you give any merchant your credit card details. They have access to your money and you have to trust them that they won’t steal your details. How many online scams have you heard of where an identity was stolen because someone’s credit card details were leaked? With bitcoin and crypto in general, you retain full ownership and control of your digital currency. You decide when to pay a merchant and how much to pay them. There are no middlemen taking their cut.
- Access: We may take our money for granted here in this country, but there are many third world and developing countries who don’t have easy access to money exchanges. This limits them to buying within their own country and limits their lifestyle. Digital currencies such as bitcoin give everyone easy access to it. As long as you have an internet connection – and over two billion people in the world currently do – you have access to a bitcoin exchange.
Use a Trusted Exchange
Bitcoin, and others like it, represent a digital future where power and control is placed back into the hands of the people. Just make sure that you use a reliable crypto exchange.