Why Bitcoin Is Popular Today
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Bitcoin, which is the original cryptocurrency and very much the market leader, shot to prominence several years ago after the mainstream spotlight pointed in its direction. Since then, bitcoin’s popularity has continued to increase, and it’s showing no signs of waning. This has often led to many people questioning exactly how this digital currency has managed to hit the big time and stay there.

One of the first reasons why bitcoin is as popular as it is comes down to the anonymity it provides. Users can invest in bitcoin, as well as using it to buy products and services both online and offline, without putting their identity, person or financial details at risk. Being able to conduct business in this way has a lot of advantages, with this helping to drive its popularity through the roof.

A drawback often levelled at bitcoin is the volatility of its price, however, while the price of bitcoin can be volatile, this isn’t a key concern for everyone. In fact, the price of bitcoin is considerably less volatile than many currencies around the world and is one of the key reasons why it has been adopted by businesses and those living within countries such as South Africa and Nigeria.

It doesn’t matter what form of currency one chooses to use, the security when using it to conduct transactions will always be of paramount importance. The great news is that bitcoin has a lot of advantages where security is concerned, and when security is of such great importance, popularity will follow. The blockchain, which is effectively a ledger which can’t be tampered with, ensures that all transactions are recorded. And, with no third-party involvement, cyber crooks are well and truly kept at bay.

Furthermore, bitcoin is perfect for mobile users, and as smartphones are now the most popular devices around, being able to conduct transactions using bitcoin via a smartphone is incredibly convenient. There are also tonnes of bitcoin-related apps on the market too, which are perfect for users who see bitcoin as an investment opportunity for example, with price trackers, wallets and the like all just a couple of presses of a touch screen away. This trend has been a contributory factor when looking at the growing dominance of the likes of Luno and its bitcoin wallet service on a global scale.

Online gaming and sports betting are just a couple of past times which are very popular on the internet right now, and the great news is, bitcoin can be used to do both. More and more gaming and sports betting operators are now accepting bitcoin as a valid payment method, while there are also bitcoin specific platforms out there to play at too.

This represents a shift in the direction of travel when it comes to activities in the online world, as well as paying for them, which is another reason why bitcoin’s popularity continues to grow. As bitcoin becomes more accepted, it won’t be long before huge names such as Amazon begin to warm to the idea of accepting it as payment method and when this happens, the floodgates really will well and truly open.

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