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How Bitcoin Became So Popular

Bitcoin was the first digital currency to be created. The Bitcoins trading is booming, and a big reason for this is the volatility of the cryptocurrency.

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How Bitcoin Became So Popular

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  1. How Bitcoin Became So Popular

  2. Index • How Bitcoin Became So Popular • Advantages of Using Bitcoin • 1. Irreversible Transactions • 2. No Paperwork • 3. Appreciating Value

  3. How Bitcoin Became So Popular • The first digital currency to be created was Bitcoin. • It is also most respected capitalized and traded cryptocurrency all over the world. • Bitcoins trading is booming, and a big reason for this is the volatility of the cryptocurrency.

  4. Currency trading allows for maximum yield when it is volatile lots of ups and downs. It is precisely the reason global traders enjoy trading bitcoin. • Plenty of profitable opportunities are available when markets are volatile, and Bitcoin ranks highly with the currency traders.

  5. The media plays a huge part in the volatility of Bitcoin. Whenever breaking story surfaces, Bitcoin volatility rises, and traders cash in. • History has shown that the Bitcoin traders and speculators routinely push the digital currency to the forefront of CFD trading.

  6. It is increasingly being used as a preferred payment option at merchants, for the money transfers and trading purposes. • More traders are turning to bitcoins trading than ever before, and that is why the cryptocurrency is inherently valuable. It is a high demand financial trading instrument, despite no association with the central banks and governments.

  7. Bitcoins are mined with the powerful computer hardware and computer software. • A maximum of 21 million Bitcoin will be available, after which no more bitcoins will be produced. • The algorithm which governs the production of the Bitcoin limits quantity that will be produced, and the rate at which they will be produced.

  8. It is a finite commodity there is a fixed amount, and that ensures that the greater demand will always prop up the price. • In this way, it is similar to the other finite commodities such as silver, crude oil or gold.

  9. Advantages of Using Bitcoin • Bitcoin is the digital currency that everyone’s talking about, and it’s revolutionizing how we trade and spend money. • Bitcoin has numerous advantages over using localized currency. Below we discuss some of biggest advantages.

  10. 1. Irreversible Transactions • Bitcoin is the only payment method that is 100% irreversible and cannot be charged back. • This is the reason, and you should be careful when sending Bitcoins; be sure that you are sending them to a trusted vendor.

  11. 2. No Paperwork • Anyone, from any country, of any age, can accept Bitcoins. There is no ID card, passport or proof of address that all the conventional banks required to open an account. • All you only need to do to start sending and receiving Bitcoins is to download a Bitcoin Wallet program and generate a Bitcoin Address.

  12. 3. Appreciating Value • The value of Bitcoins was initially highly volatile during the first several years of its inception, however, during the last six months the currency has stabilized and has been steadily increasing in value on a daily basis.

  13. Thank You

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