Why is Bitcoin so popular
Technology has taken over human life.
- Over 6.5 billion people own a smartphone
- 4.6 billion people are active on social media
- 90% of small to medium-size businesses are reliant on tech
Therefore, with all of this in mind, it’s hardly surprising that cryptocurrency has also started to become popular over recent years.
In case you don’t know, cryptocurrency is a form of currency (money) that is exclusively digital.
As the title of this article suggests, Bitcoin is one of the most popular and beloved forms of cryptocurrency available today (as many people on Twitter have likely already told you).
Even Elon Musk, one of the richest people in the world, is supportive of Bitcoin, and claims that one day soon you will be able to buy a Tesla model using this form of currency.
With the introduction covered, here are 5 reasons why Bitcoin is so unbelievably popular.
You can play online casino games using Bitcoin
Currently, we are living through the middle of a home entertainment storm.
Every day, people love to relax at home, watch movies, play video games, and more.
Interestingly, more and more people are now playing online casino games using Bitcoin. That’s right: you can play slots, roulette, and poker using Bitcoin – it sounds crazy, but it’s true. Learn more about bitcoin to deposit and withdraw at licenced casinos.
Low transaction fees
Think about all the times in the past when you’ve transferred money to your friends or work colleagues. The chances are you’ve paid a substantial amount of transaction fees, right? It’s annoying – but it’s a great way for banks to make money.
With Bitcoin, you only pay low transaction fees. In some circumstances, you don’t pay any fee at all when you transfer bitcoin to another person’s digital wallet. For people who don’t like the feeling of being ripped off, this is exactly what you’ve been looking for.
No government involvement
All around the world, individual governments are heavily involved in people’s financial situations. Essentially, governments are the authority behind all the traditional currencies.
However, there is no governing authority behind Bitcoin – everything is in the hands of the owner. This is great, as it means they can’t have their Bitcoin dictated by the government or taken away by them at any moment.
Because the government isn’t involved, many individuals have been able to build up their wealth by converting traditional money into Bitcoin, holding onto the Bitcoin until the currency stabilizes, and then converting it back again.
Celebrity and influencer endorsement
One of the main reasons you even know about Bitcoin is likely due to celebrity endorsement. Famous rappers –from 50 Cent to Rick Ross – have all openly endorsed Bitcoin and encouraged their followers to invest in it. When people see famous individuals get behind something, it encourages them to do the exact same.
With the way the world is going, it seems highly likely that cryptocurrency is the future. After all, not many people pay for items with cash anymore. Instead, they tap their bank cards and smartphones at checkout to pay online instead. It seems that the natural next step after this is going to be cryptocurrency going mainstream.