Is bitcoin the perfect currency?

Sites trade virtual currencies like Bitcoin or Ethereum today, promising you maximum profits. This is largely true if we consider that Bitcoin has only gained over 100% of its value in the last months alone.

It is a spectacular growth, which can lead us to think of huge profits for those who traded and invested in this currency since its inception, that is, almost ten years ago. But is Bitcoin the perfect currency? Will this replace the traditional banking system or is it just a momentary euphoria, which some speculate to their advantage and others invest fabulous sums in hopes of an illusory profit?

But the truth can only be given by the test of time, and from this point of view we can say that Bitcoin, along with a number of other virtual currencies, we can say that it has surpassed it brilliantly. However, there are some aspects that we should keep in mind when we decide to trade Bitcoin on any specialized site.

No fees and commissions

First of all, we are talking about a series of net advantages, such as the lack of any fees and commissions for transactions between direct owners. If we choose to do this on a specialized site, there may be some costs, which vary from one operator to another.

Also, the virtual currency can be said to represent some money permanently at the bearer, through the private access key, which we can enter on any device connected to the internet, regardless of whether we are talking here about the computer, phone or memory stick. Last but not least, we are talking about the total secrecy of transactions, in which no one will know who and how much traded, except for direct partners and those who check all these exchanges.

And this is possible even by the fact that a Bitcoin owner can trade under a false identity, without this mattering to anyone. All we care about is that the transactions are done legally and quickly. And in terms of speed, we can say that the trading system works instantly, as long as it only involves the validation of an operation already performed between two entities.

But there are also some disadvantages that we should take into account, such as the increased risk and volatility of virtual currencies. These are tempting at first glance, in the sense that they offer an extraordinary yield, compared to recent years.

But we do not know if this trend will continue or, moreover, the high price we see today for some currencies will not collapse in a day, a week or a month. Last but not least, when it comes to trading and trading, many people are still skeptical of these currencies, so it will not be easy to sell or buy anything on cryptocurrencies.

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