How Bitcoin Became So Popular

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How Bitcoin Became So Popular
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Index

• How Bitcoin Became So Popular
• Advantages of Using Bitcoin
• 1. Irreversible Transactions
• 2. No Paperwork
• 3. Appreciating Value

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How Bitcoin Became So Popular

• The first digital currency to be created was
  Bitcoin.
• It is also most respected capitalized and traded
  cryptocurrency all over the world.
• Bitcoins trading is booming, and a big reason for
  this is the volatility of the cryptocurrency.

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• Currency trading allows for maximum yield when it
  is volatile lots of ups and downs. It is
  precisely the reason global traders enjoy trading
  bitcoin.
• Plenty of profitable opportunities are available
  when markets are volatile, and Bitcoin ranks
  highly with the currency traders.

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• The media plays a huge part in the volatility of
  Bitcoin. Whenever breaking story surfaces,
  Bitcoin volatility rises, and traders cash in.
• History has shown that the Bitcoin traders and
  speculators routinely push the digital currency
  to the forefront of CFD trading.

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• It is increasingly being used as a preferred
  payment option at merchants, for the money
  transfers and trading purposes.
• More traders are turning to bitcoins trading than
  ever before, and that is why the cryptocurrency
  is inherently valuable. It is a high demand
  financial trading instrument, despite no
  association with the central banks and
  governments.

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• Bitcoins are mined with the powerful computer
  hardware and computer software.
• A maximum of 21 million Bitcoin will be
  available, after which no more bitcoins will be
  produced.
• The algorithm which governs the production of the
  Bitcoin limits quantity that will be produced,
  and the rate at which they will be produced.

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• It is a finite commodity there is a fixed amount,
  and that ensures that the greater demand will
  always prop up the price.
• In this way, it is similar to the other finite
  commodities such as silver, crude oil or gold.

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Advantages of Using Bitcoin

• Bitcoin is the digital currency that everyones
  talking about, and its revolutionizing how we
  trade and spend money.
• Bitcoin has numerous advantages over using
  localized currency. Below we discuss some of
  biggest advantages.

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1. Irreversible Transactions

• Bitcoin is the only payment method that is 100
  irreversible and cannot be charged back.
• This is the reason, and you should be careful
  when sending Bitcoins be sure that you are
  sending them to a trusted vendor.

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2. No Paperwork

• Anyone, from any country, of any age, can accept
  Bitcoins. There is no ID card, passport or proof
  of address that all the conventional banks
  required to open an account.
• All you only need to do to start sending and
  receiving Bitcoins is to download a Bitcoin
  Wallet program and generate a Bitcoin Address.

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3. Appreciating Value

• The value of Bitcoins was initially highly
  volatile during the first several years of its
  inception, however, during the last six months
  the currency has stabilized and has been steadily
  increasing in value on a daily basis.

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