Bitcoin remained one of the widely discussed topics across the globe in the year 2017. It is true that in the current year it is gaining more popularity.
Of course, it's the best thing that happened to many people and currently, there are around 60 million people across the globe that has shown great interest in it.
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There is still a huge population who doesn’t have much idea about Bitcoin and they often look here and there to know about it. Even you could be one among them who need to know what exactly bitcoin is, where to get it and in what way it can help you.
If so, this guide is for you and you can easily keep up the pace with the same without going much into the technical details. If this is the first time you are dealing with a digital currency, this information is quite useful for you. Here are the top 10 reasons why you should learn Bitcoin.
10. It's safe and many organizations are considering it.
9. All transactions are Irreversible.
8. Bitcoin is Global.
7. An excellent Future scope.
6. It can boost your bank balance.
5. No Gatekeeper.
4. New jobs in the Future.
3. Bitcoin investments are simple.
2. Bitcoin assures many benefits in the long run.
1. Bitcoin is free from political interference/restrictions.
Let us explore these reasons in a bit detailed manner.
It was first introduced in the year 2008 and all the transactions are fully transparent. This is one of the leading reasons why Bitcoin gained popularity in the shortest possible time.
* Many news agencies started publishing the news related to it.
* Many large scale organizations such as REEDS Jewelers, hospitals, IT companies such as * Microsoft and Dell started accepting it.
* All the information about the price index, API, as well as exchange rate, is available easily.
* It is allowed to make payments to various vendors through bitcoin.
* The good thing is all the transactions are secured and encrypted with a 16 digit code.
* A lot of goods and services can be purchased through Bitcoin in different parts of the world.
* The Bitcoin funds are basically encrypted in a public key.
* This generally includes a cryptography system.
Only those who own the private key can send the cryptocurrency. The security keys are long chains of random and thus it contributes a lot to the security and the safety. Anyone can trust bitcoin and it's one of the finest cryptocurrencies that can help you to keep up the pace.
* It must be kept in mind that all the Bitcoin transactions are irreversible and cannot be reversed once they are done by the user.
* This issue can even be highlighted as one of the safety concerns of Bitcoin. This is because even if a hacker steals the same, the transactions are still irreversible.
* The transactions are quite fast and it really doesn’t matter where you want to send them.
* Even in other parts of the world, they can be sent instantly. However, it should be kept in mind that the transactions are not fully valid in all the countries.
This gives you no reason to worry when you have to send the cryptocurrency to most of the locations across the globe.
There are many famous economists across the globe who have predicted that Bitcoin keeps increasing its value in the coming years. Thus buying or exchanging this cryptocurrency assures a good future in the time to come. Those with basic knowledge can easily keep up the pace.
* Even Tyler Winklevoss who is the co-member of Facebook recently called bitcoin one of the best currencies in the world which is free from human errors and politics.
* Rick Falkvinge, who is the founder of the Swedish Pirate party said “Bitcoin will do exactly the same to the banks that e-mails did to the posts” This seems true up to a very good extent in the present scenario.
This gives you a leading reason to boost your knowledge about this cryptocurrency and have numerous benefits at the same time.
There is nothing wrong to say that Bitcoin can boost your bank balance in the shortest possible time. There are many factors that support this statement.
* The demand for Bitcoin has been increased a lot in recent years.
* Those who have some stored bitcoins with them are able to sell them at a much higher price than what they actually invested.
* Many experts predicted that the bitcoins will go even higher in the time to come.
Those who have some basic knowledge about cryptocurrency can simply enhance their bank balance under the guidance of an expert.
* When it comes to dealing with bitcoin, there is no need for the users to worry about the engagement of the middle man.
* Anyone can download the software and can start using it without facing any barriers.
* There are no permissions that are associated with this.
* Thus, you need not wait for long when it comes to engaging yourself in any of the associated tasks.
This is one of the leading factors that make Bitcoin best for beginners including students. They can learn and can understand the important ethics simply.
Frequently Asked Bitcoin Interview Questions & Answers
It is largely believed that a lot of new jobs will be there in the economic sectors which deal with Bitcoin and those with some basic knowledge will be having a lot to earn.
* The fact is many organizations (as already mentioned) have started accepting and transacting in Bitcoin and this is the reason why more and more experts would be required in the time to come.
* Bitcoins specialists can earn around $76000 to $122000 per year on an average basis.
However, this figure may vary depending on certain factors and thus you need to keep this thing in your mind.
Understanding how bitcoin actually works is not at all a big deal. One can easily keep up the pace simply. Bitcoin actually works on a concept which is known as Blockchain and it usually has a record of all the transactions and is thus called a block. It is actually a peer-to-peer computer connection equivalent and this is exactly what makes users aware of all the transactions.
* Bitcoin has no central monetary authority like banks.
* They are generated through a process known as Bitcoin mining.
* There is a strict upper limit on mining by each user.
* No one can cancel the previously generated bitcoins just like bank currency.
This is one of the leading reasons that why one should learn Bitcoin in 2018.
[Related Post: Bitcoin and its work]
The decentralized approach simply enables you to keep up the pace when it comes to dealing at the international levels without worrying about the exchange and any other form of charges. As already mentioned, it is largely predicted that Bitcoin demand will increase more and will reach the great height of success in the time to come.
Thus, if you have some basic knowledge about it, it can simply make boost your bank balance in no time. In addition to this, Bitcoin is free from political and governmental interference and is known for its transparency. Those are interested in an exchange of the same can easily keep up the pace in all the aspect. Other benefits include:
* No need of having a merchant account.
* Interest/exchange rates are not under the control of any central committee so you need not worry about the same.
* Bitcoin is free from the hassle of refund.
Many experts in different parts of the world have started calling bitcoin the second version of money which can probably make your life easy.
* One of the best things about bitcoin is there is no political interference in any of the domains related to this cryptocurrency.
* This makes users access use it in the way they want and not in the way others want it to use.
* Most of the restrictions just like bank currency are not valid to the bitcoin and thus users have no reason to worry.
This gives you enough reasons to start investing/exchange in Bitcoin without worrying about anything. It is true that bitcoin investments have enhanced in the last few years.
More and more people have started showing interest in it. Although this information is best and you can understand a lot, it is still advisable for you to take the opinion of experts before you proceed with trading or with investments in Bitcoin.
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Arogyalokesh is a Technical Content Writer and manages content creation on various IT platforms at Mindmajix. He is dedicated to creating useful and engaging content on Salesforce, Blockchain, Docker, SQL Server, Tangle, Jira, and few other technologies. Get in touch with him on LinkedIn and Twitter.
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