Why should I buy Bitcoin?

By The Crypto Bat | The Crypto Bat | 12 Feb 2022

Hello guys, welcome back to the blog. In today's post, I will be answering the question "why should I buy Bitcoin" in three quick and simple points.

(1) Limited supply

Bitcoin's max supply is 21 million coins, which might sound like a lot, but for reference, there are 22 million millionaires in the United States alone. That means that every millionaire in the United States could not get one Bitcoin each. On top of that only .3% of the whole planet would be able to get a whole Bitcoin, and that's only if each person has only one bitcoin, which is not the case. Some people might be unaware that Bitcoin even has a limited supply. But this is one of many of the important features of Bitcoin, without it there would be massive inflation.

(2) Eliminates the Middle Man

Are you tired of Banks and services like Paypal or Go Fund Me, canceling your transactions, and charging high fees? This was one of the reasons Bitcoin was invented, to avoid the middle man, and to go straight from one person to another (ie peer to peer). Bitcoin also has cheap transaction fees unlike some of these other services. Instead of the Bitcoin network charging a percentage, it charges a flat fee of about $5. It is also very easy to send from one country to another. As long as you have the other person's address you can send them Bitcoin in minutes from anywhere in the world.

(3) Safe and secure

Bitcoin is an extremely safe and secure asset. This is since every Bitcoin transaction takes place on the blockchain. The blockchain is a chain of blocks that verifies each transaction. Each block has a timestamp on it and what number block that is. So if someone tried to hack the blockchain and put a block between the number 5 block and the number 6 block it would be obvious that that block is the fake one. Plus they can look at the timestamp and see that the number 6 block was added before that block. And so the miners would not verify that block.