In just a few months, BTC or Bitcoin will celebrate its 11th birthday. From 2009 to the present, this cryptocurrency has become the most popular, valuable and significant digital asset ever to emerge. Bitcoin officially launched on January 3, 2009, and in a few months since, BTC has had negligible value. Today, this virtual coin has reached the value of about $9400 at the time of writing, while the highest value ever was recorded during 2017 when it was about $20,000.
Also, many people around the world are interested in trading this cryptocurrency and seek the necessary expert advice and accurate market analysis and statistics. Quite simply, everyone wants to make money by trading cryptocurrencies, and BTC is an ideal profit option. If you also want to become a part of the market, check out CryptoProfit, crypto software that can help you a lot in creating a winning strategy. However, Bitcoin is definitely the most popular digital currency. But, why is it so? The following article provides the main reasons for the great success of BTC, so keep reading and check out why Bitcoin is so popular?
This is a decentralized cryptocurrency
Comparing Bitcoin to traditional FIAT currencies, it is easy to conclude that this digital coin has several advantages. First of all, BTC is a decentralized currency which means that no one manages and has control over Bitcoin. So, there is no central control institution. In addition, BTC offers transaction transparency, anonymity and increased security. Of course, we shouldn’t forget the lower fees when making transactions.
Bitcoin was created by Satoshi Nakamoto
Everything that is mysterious is very interesting, and so is Bitcoin. Although Satoshi Nakamoto is the official name of the person responsible for creating this cryptocurrency, no one has ever seen him or can be certain if it is one man or a group of several persons. In any case, the Satoshi Nakamoto creation brought a revolution.
Bitcoin has brought in blockchain technology
Perhaps the most important thing Bitcoin has brought us is blockchain technology. This advanced technology is being implemented in all major countries of the world and represents a breakthrough in the financial systems, because it stores all the information on transactions that occur. Also, the advantage is that blockchain provides security when trading BTC because this vital money cannot be stolen or hacked in any way.
BTC is the largest and most dominant cryptocurrency ever
The power that BTC has is truly amazing. Namely, Bitcoin is dominant in the crypto market and the market cap is currently around $150 billion. In addition, BTC determines the rise and fall of other virtual currencies (altcoins). So, if the price for 1 BTC is high, then altcoins will be valuable, and vice versa.
Bitcoin is a cryptocurrency whose number is limited
Once again, we have to compare FIAT currencies and Bitcoin. On the one hand, FIAT currencies can be printed again and again, which means the number is unlimited. However, when it comes to BTC, supply is limited to 21 million coins. This means that new Bitcoins will stop mining at some point. This is predicted to happen in 120 years.
