An Indulger's Guide To Why You Should Buy Bitcoin
BITCOIN! Something we've all have heard about even if you've been living under a rock you've heard of it. The best time for when you should have bought bitcoin has passed, but it's not too late to get started. [Click To Tweet!]
Bitcoin? What is it exactly?
Bitcoin is a fully decentralize digital currency which aims to do away with all the problems we have paying for things online. Everything you buy online goes through either a bank or credit card company which take a cut for processing the transactions, and you have to trust them to keep you Debit or Credit card info safe.
But with Bitcoin, you ultimately cut out that middle man with the work of blockchain - a peer-to-peer ledger system that records transactions made by a specific cryptocurrency - by which no one bank, government, or user can force control on it thus results in a quicker, more comfortable and cheaper way to spend money even internationally.
Facebook Crypto (ZuckBucks)
With the launch of Facebook libra launching at the beginning of 2020. Libra will be more like PayPal, Venmo instead of Bitcoin. As it will be coated not to let the price fluctuate and will be able to be sent and received like a text. You'll also be able to cash out of Libra and get your local currency at any time. Facebook hope you will use it to pay for all your necessities in the future.
But how does it does work, Libra will not just be solely controlled by Facebook, a Libra member association will run it. Libra members will each need to pay at least ten million dollars to get a vote on the council that will be controlling the libra reserve that keeps libra's value stable. The reserve is made up of the world most stable currencies, like the US Dollars, the Euro, Japanese Yen, and the British Pound. That will coat libra to stay, and merchants won't worry about the value dropping right after purchase.
The biggest problem with Libra is that it will be open to any developers and Facebook won't be vetting any of them so any app developer can snatch your info and money. But if Facebook succeeds, it will help stop international money transfer services like Western Union that exploit by charging steep 7%+ fees.
Cryptocurrency is The Future!
Though it might be a growing market, and it carries a vast amount of risk but also a lot of rewards. It's the Gold Rush of 1849 in the digital age as you can also mine for cryptocurrency, but I wouldn't recommend it. We use money every day, and it's the tool that's been at the center of human progress. We have a digital and global economy, and we are going to need a global digital currency.
As the future arrives days after days and more people start to worry about privacy, cryptocurrency is going to be a great democratizing force in the world as it will allow anyone with a smartphone to access financial services. Crypto is going to make the digital world go round as money does in the physical world. The existing financial system has too many middlemen, and money is being printed frivolously take a look at Zimbabwe and Venezuela.
So Why should You buy Bitcoin?
With the launch of Libra and all the other more cryptocurrencies to come, this will give disadvantaged people everywhere a new way to join in the modern digital economy. This will be the second ideal time to invest in Bitcoin and make a profit from all the craze that will be coming. To simplify this, Libra is digital cash, and Bitcoin is digital gold, and it will get everyone more interested in cryptocurrency.
I, for one, will be buying two hundred dollars worth of Bitcoin once a month until 2020. You too can invest in cryptocurrency and here's $10 from Coinbase to get you started. P.S. Don't make decisions with your emotions and buy to hold for six months to 5 years.
I hope that this will help you and if you have any other questions or maybe want to share some additional tips: please leave them down below and click here to get more of ThisIndulge. I would love to read your comments. 🙂
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