Bitcoin serves many different purposes, for many different individuals. For some, its the perfect currency to hold in the event of the collapse of the modern banking system. For others, it's a tool to use to trade and make profit in FIAT. However, today I would like to present 3 advantages to holding Bitcoin that arguably do not get talked about as much.
1. It Can Be Brought With You Wherever You Go
As someone who has lived and worked in various different countries, one of my biggest headaches was always exchanging my money from one country to another. This same problem arises for those who are travelling to countries with different currencies. Currency exchanges, whether they be at banks or airports, can charge hundreds, if not thousands worth of dollars when you need to exchange money.
With Bitcoin, this problem is solved. For instance, let's say you want to move from the United States of America to Portugal and are planning on bringing $100,000 with you.
A quick look at the exchange rate offered by Bank of America shows that you would receive €87,558 for your $100,000.
However, if you were to buy BTC with that $100,000, you would receive 2.66 BTC, which could then be sold for €92,337.
This means you are receiving roughly €5,000 more by using BTC rather than a currency exchange system.
Even factoring a potential 1 or 2% fee for a cash out, you are still coming out wildly ahead!
2. You (AND ONLY YOU) Decide When, How Much and to Who You Wish to Send Bitcoin
I once wanted to buy a certain something with cash, and upon going to pay, was told that the transaction did not go through. Confused, I called my bank and was swiftly told that the transaction I was attempting to make was beyond my daily limit. In essence, I was being told by my bank how much I could spend, and when I could spend it.
Frustrated, I ended up needing to take out a loan to pay in installments, costing me needless headache and interest. However, with Bitcoin this problem is solved. Since the only 'middleman' you need to deal with when transacting with BTC is your transaction being validated by nodes, you can send however much you want, whenever you want, to whoever you want.
The sheer power of this capability is arguably one of Bitcoin's biggest strengths, The ability to have full control over your money does not exist in our current FIAT system, meaning only Bitcoin brings true financial independence to the masses.
3. It Feels Damn Cool to Own Bitcoin
Beyond all the technical and practical applications owning Bitcoin provides, it just feels really f@%&# cool to own Bitcoin! I'll never forget when I got my first cold wallet, opened it up, and got started on creating my very first seed phrase. Despite not being a 'techy' per say, I certainly felt like one!
To further this thought, once you buy Bitcoin, you are incentivized to learn more and more about Bitcoin and cryptocurrency in general. Getting to read interesting articles, becoming more knowledgeable and growing in my understanding has been a cool process!
Not everything needs to have real world, tangible benefits. Learning a new skill, such as running your own node, setting up your own wallet, or even just sending out a transaction is good just for the sake of the fact that it allows you to grow as a person!
**What do you believe is the most underrated advantage of Bitcoin?**
Leave your opinion in the comments below!
