In today's article, I am attempting to share knowledge about the origin and benefits of Bitcoin; furthermore, we will compare it with fiat money, let's get started;
Beginning of digital currency;
Long ago the money wasn't in true form instead gold bar was used for selling and buying; later paper money replaced this system and a piece of paper hold the wealth; an example you have saved your gold in the bank and the token or piece of paper would be given to you having all the worth of your money, but here following issues take place;
This is a centralized form; your data and money are saved as the larger on the computer system; chances of losing the phrase can occur if the machine has been slashed; also you are unable to see the procedure and transaction being performed with your money. Indirectly changes of corruption or scamming can be predicated.
At any time the third party that's the government can freeze your account and you can't approach your physical money; this means your money is insecure. Chances of losing your wealth are precise: your accounts are vulnerable to be attacked by other parties.
You are dependent upon banks and the government for the investment and usage of your money; the issue here is the circulation and supply of paper money! more often the printing of cash is done in an enormous amount which means the worth of buying is being dropped. More the paper notes are the individual will be unable to buy and invest due to higher cost this means you can't get any sort of benefit from this fiat money.
In comparison, this decentralized finance system is more valuable and profitable from all perspectives. You will have full access to your account; data is not stored on a single computer instead it's being saved in multiple computers or the blockchain you have full access to see the transaction of your account and your data is fully secure if one wants to wipe out your data surely he/she has to combat with whole the blockchain and it's simple than you think.
The supply of digital currency is not unlimited it's in the control and yes the price is being governed; the circulation and supply are being monitored. Moreover, the simple click can direct you to know all about wealth; you can see each of the minor details of your account with convenience.No once restrict you to do this as you are the landlord of your account, neither government nor the third party would be involved in this case.
The procedure of understanding and trading with crypto is simple and here no barrier is being portrayed in investing the money; making an account and selling the assets contains no complexity.
Bitcoin Is the more favorable and beneficial and now it's going to revolutionize the world of digital cryptocurrency.
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