Today, the Bitcoin cryptocurrency is going through an unstable time. Price fluctuations are rather significant & strong. However, any day now, the situation may change significantly — the Bitcoin rate is projected to rise.
Bitcoin is called ‘a digital gold’ because of its rarity. Therefore, it serves not only as a means of payment, but as an item for value storage and HODLING. However, Bitcoin’s purchase is still very risky and unstable.
Nowadays, 50 bitcoins cost almost $445,000. At the same time, Bitcoin creator — Satoshi Nakamoto — has millions of bitcoins. He’s a billionaire and could become the richest man in the world in just a few years. However, many people wonder should they become a part of the crypto world and buy Bitcoin in 2020 or not.
Today, we will consider key reasons to buy Bitcoin in 2020 as well as help you to decide whether to buy it or not. Let’s get started!
Cryptocurrency Feature Itself
Cryptocurrencies function as a bank without a central authority. Theoretically, any bank and government can stop, prohibit, or freeze any payment we make. But in case with crypto, any member of blockchain has a ‘power’.
Blockchain is stored on many computers around the world. You can download the bitcoin blockchain at bitcoin.org, but this isn’t necessary. When payment is made, all computers around the world confirm its legitimacy. It works automatically, but everyone is involved. Blockchain is now completely transparent and visible to everyone.
The Fatal Year: 2020
Here’s the main thing — the number of distributed bitcoins is halved every four years, because the Bitcoin father Satoshi Nakamoto has embedded a special function in the code.
Since people get the Bitcoin cryptocurrency with the help of their computers, they receive a reward. In the very beginning, users could expect 50 bitcoins per block. A block is created almost every ten minutes.
Four years later, this value halved to 25 bitcoins per block. Now, miners receive 12.5 bitcoins every ten minutes. And after the BTC halving coming in May 2020, only 6.25 bitcoins will enter the crypto market every ten minutes.
So fewer and fewer new bitcoins are being created. That is, if you’re thinking of buying a Bitcoin — now is the right time!
Get Free from the Control
Monetary creation is a key goal of countries as well as their central banks. Today, almost every country in the world is facing an economic crisis. Most countries lose control over a monetary tool.
In case with Bitcoin, there is no place for control. Bitcoin allows to get free from the sole will of politicians by restoring the power of its users. Bitcoin is an open-source system based solely on the computing power of computers within its network.
Thus, Bitcoin is a potential solution to reduce the growing inequalities of the world in which we live.
This information is provided for informational purposes only. Such information is not intended as and may not be relied upon as trading advice. Before deciding to trade cryptocurrencies, you should carefully consider your objectives, level of experience, and risk appetite. Please do your own research and due diligence on the services provided by online cryptocurrency trading platforms.