🏃The BTC spot ETF will be approved. Friends outside the circle ask what are the benefits of Bitcoin. How should we explain Bitcoin to our friends?
This article provides 21 advantages of Bitcoin for your reference:
1. Decentralization
Bitcoin is not managed by the central bank, so you can avoid national or central bank policies from damaging your currency and causing property losses.
2. Unbreakable
Stocks are lost because companies fail, traditional currencies disappear because of national wars or mergers. Bitcoin will not go bankrupt as long as people have a consensus of value. The blockchain is working and the value will always exist. Blockchain is a secure and public encrypted decentralized storage that will not disappear without the consensus of the world's blockchain.
3. Divisibility
Bitcoin can be cut into a minimum of 100,000,000 satoshis for transactions, and you can use 10,000 satoshis to buy micro-services. But you cannot trade with $0.001, and there is no such change.
4. Scarcity
There are 21 million Bitcoins in the world, and after the Bitcoin halving in 2024, scarcity will be lower than gold. Gold and silver mines are still likely to be dug up all over the world, diluting the value of the minerals. The quantity of Bitcoin is determined from the beginning, and it will become one of the scarcest assets in the world starting in 2024.
5. Transactional
In the future, it may not be easy for you to buy a bottle of beer with a piece of gold, but you can use a very small amount of Bitcoin to buy a bottle of beer and snacks.
6. Global
A currency with global consensus on value, you can use Bitcoin to easily transfer money to family or friends living abroad without having to go through layers of banks and time differences.
7. Low handling fees
You may have to pay expensive fees for cross-border transfers, but Bitcoin may only cost $1 because there are no layers of cross-border bank charges.
8. Distinguish authenticity
It is difficult to distinguish the authenticity and value of gold and diamonds. Banknotes and coins can also be genuine or fake, and may even be defrauded. However, Bitcoin does not have the problem of identifying authenticity.
9.Cashness
Bitcoin is like "cash" in that it cannot be recovered after being traded unless the other party takes the initiative to pay you back. Unlike credit cards, which may be charged back, you may even encounter chargeback scammers.
10. Security
Money deposited in the bank may be robbed, and the bank may go bankrupt if it encounters a debt incident. Bitcoins are stored in your cold wallet and your private keys are kept safe so that almost no one can access your assets.
11.Anonymity
Bitcoin is not subject to bank monitoring or investigation of your consumption records, personal fund movements, and property distribution.
12. Transparency
Although the blockchain wallet is anonymous, it is transparent. If illegal transactions are found in the online wallet, relevant institutions can help freeze the wallet to reduce the loss of the original asset owner's property.
13. Investment property
The current usage rate of Bitcoin has not yet reached widespread acceptance by everyone. Therefore, the value of Bitcoin in the future will still have a lot of value-added potential before everyone accepts it.
14. Ecological
Bitcoin has brought about the ecology of altcoins and related encryption industries, providing more related services such as financial Defi... and developing the cryptocurrency and blockchain ecology.
15.Entertainment
The value of traditional games is stored in the game dealer. Blockchain games convert game content into valuable NFT...etc., return value to players, and use cryptocurrency units and trading platforms to conduct value transactions. When you are not playing the game, you have the opportunity to resell game items to another player in the world.
16. Anti-inflation
Although Bitcoin may fluctuate greatly, it is very stable compared to hyperinflation or countries at war. It can avoid the income from yesterday's hard work being reset to zero overnight and leaving you hungry when you get up.
17.Durability
Your coins may rust, and when you wash your pants, the banknotes will rot in the water, but Bitcoin will not.
18.Portability
As long as a mobile phone is connected to the Internet and your wallet, you can use Bitcoin.
19. Homogeneity
Although traditional currencies are also homogeneous, in the world, the US dollar, euro, Japanese yen, and South African currency are not considered homogeneous. If you use Bitcoin for cross-border consumption, you no longer need to convert the current Japanese yen to US dollars.
20. Acceptability
Bitcoin is the largest and most well-known cryptocurrency in the world, and it is also the most accepted cryptocurrency.
21. Storytelling
Bitcoin was proposed in a 2008 paper by Satoshi Nakamoto. No one has ever seen Satoshi Nakamoto himself, and none of the Bitcoins owned by Satoshi Nakamoto have been touched. Some people speculate that Satoshi Nakamoto may be a person from the future. He saw serious inflation in the future world government and traveled to the past to establish Bitcoin. The mystery of the founder adds to the story of Bitcoin.
Hope it helps your friends. ☕
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