Nowadays, all over the world, because of globalization where the industry is going paperless, the whole world can be connected with just one click, the predictive models and with artificial intelligence help track major disasters and where biotech helps cure diseases in the shortest possible time, etc., to enable people to reach new heights of progress in almost all areas.
That is where Blockchain technology also plays one of the most important roles as of today, by supposedly transforming the Global Money Market from paper and metal to become electronic money. Hence, one of the products of blockchain technology is a cryptocurrency that represents a new revolution in the financial system and the next step in the evolution of money around the world.
The Overview of Cryptocurrencies
Cryptocurrencies are blockchain-based decentralized forms of networks—a disseminated ledger enforced by a network of computers. The cryptocurrency has been in existence in the Global Financial System for the past eleven years. In recent years, cryptocurrencies have gained a lot of attention and interest from companies and researchers and traditional institutional and individual investors from all around the world.
Even multinational companies and even banks have set up new investment arms in blockchain technology and cryptocurrency to diversify into these alternative assets. A cryptocurrency is a means of exchange, such as the US dollar, Pounds, INR, etc. It is in a digital form and uses encryption techniques to control the creation of monetary units and verify the transfer of funds.
There are many cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and many other altcoins in the market. Despite some risks and issues such as lack of social trust, limited access to financial services, and low financial inclusion in some countries, Bitcoin’s adoption is higher due to the need of these stated limitations of the current financial system.
Despite all these limitations and after facing a global economic crisis, the cryptocurrency investment option has become like a seed burgeoning in this fast-paced competitive market and resulting in the crypto market continually growing strongly, which has gained the attention of every investor.
Bitcoin’s Overview & its Advantages
Bitcoin is one of the best-known forms of cryptocurrency, and it is the one for which blockchain technology was invented in the first place. BTC is considered to be one of the earliest forms of cryptocurrency that achieved tremendous success. Despite the COVID-19 pandemic, a global economic crisis, the crypto market has continued to grow strongly and has gained the attention of traditional and institutional investors.
During economic uncertainties, Bitcoin can be used in particular as protection against monetary inflation. Since, in contrast to fiat money, the supply of digital currency is limited, and only 21 million bitcoins are currently available for trading and also the decentralized nature of the cryptocurrency, centralized agencies cannot create an oversupply of money.
Following are the advantages or benefits of mainly all major altcoins and mainly of BITCOIN:
- Bitcoin is very autonomous in nature
- Bitcoin is a peer-to-peer payment system, which means that users can send and receive payments to or from anyone on the network globally without needing approval from any external source or authority
- Usage of Bitcoin eliminates Banking Fees on the transaction and other charges
- Trading cross border with Bitcoin implies exceptionally Low transaction fees for International Payments Trading in bitcoin requires no physical access. Its virtual characteristics make it easily and remotely accessible anywhere
- Bitcoin Wallet can help with financial inclusion by using it for savings and daily transactions.
Coinitix.com: The Easiest Way to Purchase Bitcoin
Coinitix is a pioneering and fully automated online web-based platform. They have a very streamlined and abridged registration process for purchasing Bitcoin. Coinitix is a fully regulated and licensed crypto exchange platform powered, operated, and all the transactions being regulated and governed by the laws of Estonia.
Coinitix.com is one of the platforms where one can buy bitcoin with their credit cards. Usually, Bitcoin can be purchased through a lot of different options such as trading platforms, Bitcoin ATMs, etc. However, the disposal of these payment methods is subject to the area of jurisdiction, and exchanges chose to buy and sell digital currency and have their advantages and disadvantages.Further, amongst all these above-mentioned approaches of payments, Credit Card presents the most mushrooming modes. With the advancement in technology and restructuring of the company’s platforms, it is becoming much easier for investors or purchasers to buy Bitcoin with credit cards. Further, the anti-fraud companies have reduced the problem of chargeback, thus letting more and more digital trading exchanges with the ability to offer this mode of payment. Trading bitcoins with Credit Cards has its own positives and negatives. Even then, it is, as of now, one of the easier Bitcoin buying methods.