Bitcoin is Secure
Since it was created in 2009, the Bitcoin blockchain has maintained complete . The blockchain is a public digital ledger that stores all data from any bitcoin transactions. Ethereum and other cryptos utilize blockchain technology as well. Blockchain technology is known for its unparalleled security and safety.
That being said, Bitcoin can sometimes be associated with scams. While the network is secure, that doesn’t mean bad actors can’t get the info they need. You may have an impenetrable safe, but a robber can still open the door if they get the code. This is why it is important to always stay alert for common Bitcoin scams. In addition, make sure you always keep your wallet keys safe, and only send Bitcoin to people you know.
Bitcoin Increases In Value
Bitcoin is the best-performing asset of the last decade. Since its creation in 2009, it has seen steady, almost consistent growth. In the United States stock market, Bitcoin performed better than any other asset over the past decade, with an average of 200% annualized returns.
Bitcoin is Open to All
Cryptocurrency makes investing easier for everyone. Decentralization opens up investing to everyone. Unbanked and underbanked individuals can build their portfolios easier. Additionally, since it isn’t controlled by a central agency, cryptocurrencies aren’t subject to exchange rates or tariffs, and neither are the international products purchased with them.
Many governments are fearful of the effects cryptocurrency can have, especially since it takes away their monopoly over manufacturing currency. According to Matthew Sigel from VanEck, “the rest of the world is seeing value in the second source of monetary sovereignty,” and until governments actively work to integrate crypto, people can take advantage of a more diversified financial setup.
Final Thoughts on Trusting Bitcoin
It’s easy to initially be cautious of Bitcoin and cryptocurrencies until there is a greater level of understanding of the industry. However, there can be significant rewards for early adopters of technologies that are as revolutionary as cryptocurrency.
Utilizing trusted companies like Coinsource to enter the world of crypto can help you feel just as confident