Have you recently considered whether investing in bitcoin is worth it? If you’ve held back, it may be because you’re concerned about whether you can spend it on the things you want, or access your money when you need it.
The fact is, the features and usefulness of bitcoin have improved a lot since it was first introduced. If you’ve considered bitcoin in the past, the newest features may relieve some of your biggest concerns.
Please remember, this is not financial advice. This guide is going to explore how much more accessible bitcoin has become, not whether it’s the right option for you. Whether these new features have any value to your financial future should be discussed with a certified accountant or financial planner.
Let’s look at some of the ways that Bitcoin has become more worthwhile as a cryptocurrency.
A Growing User Base
No one wants to board a train that’s not going anywhere. Many types of cryptocurrencies have come and gone, but bitcoin has continued to endure. From 2016 to 2019, the number of wallets (the unique storage files for the currency) increased in number from around 11,000,000 to just under 45,000,000.
This may be a result of several factors. First, bitcoin isn’t owned by anyone. The code that produces bitcoins is public. Because of this, it’s very easy for individual users to determine whether a bitcoin is legitimate or not.
The widespread usage of bitcoins continues to drive innovation. A lot of technologies have been developed to make spending more convenient. One of those technologies is ATMs.
If you’ve ever asked yourself, “is there a bitcoin ATM near me?” the answer is more likely to be “yes” than at any other point in the cryptocurrency’s history.
Bitcoin ATMs have spread to most major cities. There are hundreds of ATMs in big US metropolises like Chicago, Los Angeles, and San Francisco. Using these ATMs, you can convert your bitcoin balance directly into the local currency.
It’s not just the US, either. Bitcoin ATMs are also available in many major cities in Europe and Asia. You’ll also be able to spend your balance easily in London, Amsterdam, or Hong Kong.
More Elaborate Security
Are you concerned about holding onto your bitcoin? You can worry less now because security has improved dramatically since the early days of bitcoin. Cybersecurity has been improved these past few years.
The massive community has continued to expand and improve the security of wallets and transactions.
Additionally, the exchanges that serve bitcoin users have improved. Sloppy exchanges have mostly died out, and the few that remain now have a long history of excellence.
Consider if Bitcoin is Worthwhile for You
Bitcoin trading used to be a wild frontier. Now, improving standards have led to much more security and stability.
Thanks to an energetic community, improved access, and more secure transactions, bitcoin is a much less volatile contribution to the average portfolio. Now is the best time to invest and cryptocurrency is one investment you should consider.