Bitcoin has been shaking up the tech and finance worlds ever since it was first introduced in 2009 as the world’s first cryptocurrency created by Satoshi Nakamoto. Since then world media has been paying close attention to bitcoin’s status as a real means of value exchange, with many questions surrounding its viability and investment value still continuing to rise to the surface.
Thanks to the infographic provided by BuddyLoans, we take another look at the phenomenon of bitcoin and pick out four reasons, despite its volatile value fluctuations, why it might be worth investing in.
Due to bitcoin’s origins and separation from any political or state affiliation, many people have seen it as an interesting investment vehicle safe from governmental manipulation. Its decentralised nature, for some, has made it appear a good form of portfolio insurance.
Couple that with the fact that bitcoin is easy to carry and store, and that it doesn’t need to be deposited or controlled by banks or other financial regulations, and it definitely makes for an interesting investment option.
Also a possible reason as for why not to invest, bitcoin’s relative youth, when compared to long-standing investment options like gold for example, raise a lot of questions. Yet even a decade-old, bitcoin’s newness makes it particularly volatile in terms of its value but also leaves room for very large profits.
If you can handle that kind of risk then bitcoin could prove a very bankable investment strategy yet.
Open Payment Network
Unlike conventional financial networks like Mastercard and Paypal that have specific company owners, the Bitcoin network is independent, uncontrolled and relatively unlimited in terms of what you could do with it.
The consequence of its open payment network throws it open to innovation that might supersede conventional payment technologies much in the same way the open web has allowed companies like Google, YouTube and Facebook to dominate. Investing in it allows you to capitalise if and when these developments come to fruition.
Bitcoin Payments and Applications
Another key reason to look into bitcoin as an investment surrounds the fact that it is resilient in the face of international money transfers and speedier than the likes of Moneygram and Western Union to boot.
What’s more are the number of bitcoin applications and start-ups in development, seeking to make payment even easier for bitcoin users and enable them to convert local currencies into the cryptocurrency.
Bitcoin is still an interesting prospect to say the least. To find out more information make sure you take a look at the following infographic.