Bitcoin is gaining momentum worldwide and it seems that in 2020 it is more popular than ever. Even though today, BTC is far from being the only cryptocurrency available in the market, other digital assets can’t shake its strong positions. More and more people opt for investing in this crypto money, which is no wonder, given the numerous benefits it delivers. There is no dilemma, bitcoin is still a relevant cryptocurrency and, what’s more, all indications point to its even greater prosperity. Let’s take a closer look at what is BTC worth and what it offers to its owners.
What Is Bitcoin?
Owned by no one, subject to no government authorities or financial institutions, bitcoin is a digital, decentralized currency secured by a blockchain. The latter ensures the legitimacy of BTC by an open-access record of transactions, which are impossible to fake. The whole concept is based on the idea of high privacy protection and the absence of any borders and limits – something that makes bitcoin a perfect means for all kinds of online transactions across the world. Since its invention in 2008, it has enjoyed astronomical growth not only in popularity but also in value, and the trend of this rocket ride to the top still continues.
Benefits Of Bitcoin
Let’s face it, bitcoin would never become so popular if it didn’t offer certain advantages to its owners. First of all, it is a high privacy protection that traditional assets can’t provide. Despite what you may think, this advantage is not important for people who are involved in some illegal activities. Quite on the contrary, in the world we live today, privacy is something that means a lot to everyone but we just have fewer and fewer opportunities to protect it from the omnipresent eyes and ears of social media giants and various government agencies. You do not have to be a crime boss to be interested in BTC, it is enough to be an “ordinary” person who is seeking to keep safe and private his or her bank details and identity.
But, of course, privacy itself would not make bitcoin so popular, therefore it is safe to say, that its value is at the center of the plot. It didn’t take plenty of time for people to figure out that buying, selling, and holding this digital currency is a great way to make money. When you add the unique opportunities of instant transactions, you can’t really think of many assets able to facilitate similar conveniences.
You just need to choose a trustworthy and reliable trading platform that will secure and insure your money, as well as let you take full advantage of your funds by processing even the smallest transactions. Many people just followed the example of expert crypto investors and decided to find out how useful bitcoin can be with Tap Gobal, a USA-based global trading worldwide famous for its comprehensive approach, best deals, and ultimate simplicity that allows even complete newbies to make the best of their money. By the way, the safety of a digital wallet you use is very important, hence do your due diligence to figure out the best option for your needs.
Finally, bitcoin is a great investment. When everybody thought it couldn’t grow anymore, it continued to hit new heights. Sky’s the limit is the best way to describe the capabilities of this unique digital asset. In contrast to other cryptocurrencies that have a tendency to rise and then fall very quickly, BTC has proven its ability to be stable and bring significant gains.
Bitcoin vs Bitcoin Cash
Many people still think that bitcoin and bitcoin cash are the same things but they are actually not. Bitcoin cash is a separate cryptocurrency that grew out of bitcoin some years ago. It won the hearts of many traders because it is easier to use when selling or buying things online, hence just more attractive for daily use than BTC itself. Put simply, the main difference between the two of them is the size of the blocks that constitute the blockchain. A more detailed explanation would be pretty technical but if you are interested to know more on this topic, you can always surf the internet for additional information. Anyway, the point is that bitcoin cash is a relatively new star on the vibrant crypto sky that has already managed to prove the ability to hold its value, hence all chances are it will stick around.
Bitcoin Mining Is Still The Same
If you are a bit confused with the term and the process of “bitcoin mining”, do not worry, it is okay, many people are. Nothing has changed since the invention of this cryptocurrency in terms of the way it is generated. Mining is a process of creating new bitcoins with the help of computing power, or on computers, to be precise, through the already mentioned blockchain. Bitcoin is backed by the blockchain, which, in its turn, is made up of “blocks” that contain certain information and are linked to each other. To create a new bitcoin, a new block has to be added to the chain.
It is a very complex process that involves complicated mathematical algorithms, therefore many experts refer to bitcoin as “a very complicated math problem” while mining is considered a way to solve this problem. What you should know is that bitcoin mining takes plenty of time, it is not something that can be done at a lightning speed, the same second you wish for it. This process also seeks a lot of computer power, which is one of the reasons mining is often performed in places where electricity is really cheap.
Fascinating in many ways, bitcoin comes with a plethora of benefits, and the best thing of all, this cryptocurrency can cater directly to the needs of both seasoned investors and total amateurs who make their first steps in the amazing world of digital assets. There is no doubt that bitcoin is the most relevant cryptocurrency in 2020, as well as that it will continue to grow.