Why Bitcoin Is The Future Of Money?

Why Bitcoin Is The Future Currency?

Bitcoin is fast becoming integrated into the everyday lives of people living in developing countries.

With unstable and hyper-inflated national currencies, bitcoins are proving to be a much more viable solution to solving the financial woes of their citizens.

Here are 4 reasons why bitcoin has a massive appeal for the masses in developing countries:

1. You Do Not Need Banks

In developed countries, it is relatively easy to sign up for bank accounts and credit cards.

But in the developing world, it is a vastly different story, much harder to get credit and setting up a bank account is no walk in the park.

Bitcoin changes all that.

With it, you can save your own capital yourself.

All you need is a secure wallet to keep your digital money safe.

2. Fast, Cheap and Borderless Payments

With Bitcoin, you can send any amount of bitcoin to anyone in the world in a matter of minutes.

When you send money through banks, you not only pay those costly bank fees, but also wait for several hours or days.

With bitcoin, as mentioned previously, you do not need banks to send or remit payments to other people.

All you need is their bitcoin address and voila!

Your payment should arrive in the next 10 or so minutes.

3. Cannot Be Manipulated Easily

Governments and banks can dictate the production and movement of their national currencies which ultimately leads to inflation.

Unlike fiat currency, bitcoin is a decentralized virtual currency.

This means there is no controlling entity that tells the Bitcoin network what to do.

Everything has been hard-coded into the network and the underlying technology behind bitcoin – the blockchain – is tamper-proof and cannot be manipulated by easily.

4. Help Authorities Catch Criminals

Contrary to popular belief, bitcoin is not anonymous.

Rather, it is a pseudonymous currency because while your alphanumeric public keys provide a certain level of anonymity, computer experts can trace who owns which wallets and amount of bitcoins each wallet contains.

Now the masses who make small transactions no longer need to worry about anything.

Rather it is the criminals who move large amounts of bitcoins that catch authorities’ attention.

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