There has been a great deal written about Bitcoin in the last 12 months or so, some good, some bad, and some completely removed from the truth. The issue surrounding Bitcoin investment is that the world has never experienced something like this before, we have never seen a digital currency like this, and it has got much of the financial world running scared.
What strikes fear most is the fact that Bitcoin is not like a bank or a government, it is a community which shares and swaps currency throughout the world, and some people don’t like it. If you have been interested in getting started with but you weren’t too sure, here are just a few reasons why you most certainly should.
The spike which Bitcoin saw last year, rising from $2,000 to $20,000 in a matter of months, highlighted the potential which a cryptocurrency like this can have. In spite of the fact that the price has fallen below the $10k mark where it has stayed for some months, a wide number of analysts suggest that Bitcoin could see prices as high as $100,000 in the next decade. People often think they are too late for an investment, but with Bitcoin, it appears as though the best is yet to come.
Whist you may need to pay a fee to your wallet provider or to the exchange for transactions, you will never, ever pay taxes on your Bitcoin dealings. The reason for this is that Bitcoin is not owned and managed by a central bank or a government, it is a community-based currency which means that the idea of laying taxes on the dealings of Bitcoin, would be near impossible to enforce. The only ever way that tax would be paid would be through voluntary contributions, which as I’m sure you can imagine, not many people would be a fan of.
No Theft Identity
One of the biggest benefits of Bitcoin is that the buying and selling of this currency is done completely anonymously, meaning that identity theft will become a thing of the past. When you buy Bitcoin you will not need to prove your address or show a form of identification. What this means is that your personal information is at no risk whatsoever from the merchant or those who you are buying or selling to. The only things you need to start investing in Bitcoin is money and a Bitcoin wallet.
No Third Parties
It is impossible for anyone to tamper with Bitcoins as there is no third party involvement and the database itself stores a redundant copy of every transaction. There is no government involvement in Bitcoin so they are not able to freeze assets or anything like that, giving Bitcoin users absolute freedom.
What are you waiting for? Go out and get yourself some Bitcoin today.