It is estimated that there are around 100,000 millionaires in the world who managed to make their fortune by trading with Bitcoin. That, combined with the fact that Bitcoin has risen a lot in value in the recent period, is more than a reason why thousands of people decide to join the network and give it a try with this type of investment.
Due to the numerous advantages that Bitcoin has, this cryptocurrency is considered to be the future of payments. Speaking of the advantages, we decided to take a look at all the features that made Bitcoin superior to regular payment methods, but also when compared to other cryptocurrencies.
Superiority Compared to Regular Payment Methods
Let’s start with the advantages over the regular payment methods. Since we live in a world where cash is starting to fade and every transaction is done electronically/online, we must possess efficient payment methods for these types of payments. Credit and debit cards are among the most commonly used methods for online transactions.
But, even though they are pretty efficient and will transfer your funds instantly, it can take up to 5 business days for the other side to receive them. That is because they come with a processing time to clear the transaction. That is not the case with Bitcoin. Since this is a digital currency, every transaction made with Bitcoin is instant. The funds that you transfer will instantly be received.
Secondly, we have the most common reason for using Bitcoin – making a profit. By using numerous reputable sites like bitcoinchampion.io, players are provided with accurate data on Bitcoin’s future fluctuations, thus they know when is the best time to sell their assets and make a profit. Thanks to the Bitcoin trading system, many people can earn a fortune overnight.
Next up, since Bitcoin is not controlled by any bank, users will void all unnecessary fees. As you know, fees are the main way through which banks earn a profit and they will impose them whenever they can. The fact that they are cut from every transaction means that people will save money by using Bitcoin. Not only that, but general fees for certain transactions are much lower, as well.
Finally, Bitcoin utilizes the cryptology method, which increases the user’s online security. There are many things that you can do to stay safe in the online world, but Bitcoin also makes sure that you can complete hassle-free transactions online. The method that we speak of uses codes as a means of communication. In doing so, it keeps the real information a secret, and thus provides Bitcoin users with a certain level of anonymity. This makes Bitcoin far more secure.
Superiority Compared to Other Cryptocurrencies
We are sure that you are aware of this, but Bitcoin is not the only cryptocurrency on the market. Bitcoin’s creation was the first of its kind and it sparked numerous other cryptocurrencies. But, none of them even close to Bitcoin. Why?
For starters, Bitcoin is far more valuable than the competition. As of late March 2021, the price for 1 Bitcoin exceeds $50,000. Secondly, Bitcoin focuses on user security and anonymity more than any other cryptocurrency, which is why it is hailed as the safest cryptocurrency on the market.
Bitcoin’s network is much greater than the network of other cryptocurrencies and its infrastructure is well-developed. These two factors lead to greater stability, which is yet another sphere where Bitcoin is superior to other cryptocurrencies.
Many global brands like Starbucks, Microsoft, Wikipedia, Shopify, and Expedia accept Bitcoin as a payment method, which cannot be said about other cryptocurrencies. Bitcoin has far greater liquidity than the competition. Finally, Bitcoin’s future potential is massive and greater than any other cryptocurrency.