Should you still invest in bitcoin in ? Or are you too late to the party? Since its inception inbitcoin has continued to gain momentum and has increased substantially in value. Today, one bitcoin is worth three times as much as one ounce of gold, thanks to its utility as a decentralised alternative currency that anyone with an Internet connection can use. This is evident with the rise of mobile payments and other digital payment services such as PayPal or Skrill, which have become very popular in recent year.
However, as bitcoin is decentralised, is faster and comes with much lower fees than its digital peers, it has managed to gain substantial traction in its eight years of existence.
With the above in mind, 6 best cheap bitcoin alternatives to invest in 2017 currencies such as bitcoin have also caught the eyes of investors leading to an increase in demand for bitcoin not just as a currency but also as an alternative investment.
In recent months, as bitcoin has become more and more popular, bitcoin fees have increasingly shot up, making it expensive to send small transactions. A bitcoin for beginners guide. The demand for bitcoin is growing on a global scale. However, it is emerging markets countries such as India, the Philippines, Indonesia, and South American countries such as Venezuela, Bolivia, and Brazil that are experiencing some of the strongest surges in bitcoin buying.
The reason for the surge in demand for bitcoin in some of the above-mentioned emerging markets nations is the need for a stable currency and store of wealth during times of economic crisis. Countries such as Bolivia 6 best cheap bitcoin alternatives to invest in 2017 Venezuela, for example, are struggling economically.
This, in turn, has caused their local currencies to weaken substantially. This is where bitcoin has been able to step in as a store of value and as a means to make purchases online. The demand for bitcoin is also increasing across Africa with Kenya, South Africa, and Nigeria leading the continent in terms of bitcoin trading volumes.
Moreover, countries such as Ghana, Zimbabwe, and Egypt are also showing clear signs of increasing bitcoin adoption demonstrating that bitcoin is on the rise in Africa. More and more Kenyans are looking at bitcoin to diversify their investments, and to profit from the sharp increase in price that bitcoin has been experiencing since its inception.
The more the demand for bitcoin increases, the more its value will continue to increase as the total supply of bitcoin is limited to 21 million coins. However, lawmakers are starting to change their minds as they recognise the value that bitcoin can bring to their economies and their citizens. In AprilJapan announced that it is officially recognising bitcoin as a payment method, and both Australia and Russia have announced that they are considering similar moves. Recently, the SARB announced that it will be testing new bitcoin and cryptocurrency regulation in an attempt to find the right balance between protecting consumers and giving its financial technology start-up sector enough room for innovation.
In a move to increase transaction speed and to help scale the bitcoin network, bitcoin developers have created an upgrade to the bitcoin blockchain bitcoin, which has been implemented in August. Inthe average time for a bitcoin transaction has been around 30 minutes. However, those times are long gone. Bitcoin has stood the test of time 6 best cheap bitcoin alternatives to invest in 2017 emerged as a widely accepted alternative digital payment method as well as a new alternative investment that established fund management companies, such as Ark Investment Management and Rothschild Investment Corporation are now investing in.
So should you still invest in bitcoin in ? Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. The Demand for a Cashless Society The world is making strides in pushing forth the agenda for a cashless society. Update Jan In recent months, 6 best cheap bitcoin alternatives to invest in 2017 bitcoin has become more and more popular, bitcoin fees have increasingly shot up, making it expensive to send small transactions.
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