There are tons of advantages that Bitcoin possesses over regular payment methods. They are the reason why millions of people around the world are fond of this cryptocurrency and use it quite often. Some of these advantages include greater security, instant online transactions, and of course, the chance to make money.
Not only that, but Bitcoin is far superior when compared to other cryptocurrencies. Thanks to its superiority and great benefits, many people are demanding Bitcoin to be finally legalized so that they can reap its benefits, and then some. Still, governments around the world oppose it and deem it as an outlaw currency.
We wanted to take a closer look into this case and see how will it reflect on Bitcoin in the future.
What Separates Bitcoin from Other Cryptocurrencies?
There are several areas in which Bitcoin is superior when compared to other cryptocurrencies. For starters, more than 90% of the crypto users around the world are only using Bitcoin. That leads to other advantages such as a bigger and more stable network. Additionally, new users register to the network with each passing day, making its infrastructure ever-growing.
Not only that, but Bitcoin has far greater liquidity than other cryptocurrencies as it is easier for people to turn their assets into profits. Speaking of profits, the last advantage that we are going to mention is its value. No other cryptocurrency even comes close to Bitcoin. As of the beginning of April, Bitcoin is valued at more than $55,000, which is a mesmerizing number.
Its value and the fact that most of the crypto users sign up to trade with Bitcoin is the reason why trading sites are optimized for Bitcoin use and place their main focus on it. Not only that, but reputable platforms like Bitcoin Billionaire even use AI systems to analyze the market and use the data to make accurate predictions on its future fluctuations. The platform that we just mentioned is one of the most trustworthy in the world and it has a very high profitability rate.
Now that we’ve explained what separates Bitcoin from other cryptocurrencies, let’s see why it should be legalized.
Why Bitcoin Should Be Legalized
The first reason why Bitcoin should be legalized is that it makes all online payments far more efficient and more secure. Considering the fact that we live in a world where most of the transactions are completed online, a method that makes the process look easy is greatly appreciated.
Not only that, but we live in an era where online scams are happening quite often and many people around the world fall victim to them. Bitcoin provides its users with a certain level of anonymity, which makes it for scammers near impossible to trick them.
Finally, there are already tons of business, including global brands like Tesla, Microsoft, Wikipedia, Shopify, and Expedia, that already accept Bitcoin as a payment method. Making it legal allow the method to keep growing and become even better in what it does.
Who knows, maybe in the future, the government would even be able to regulate the market on profiting with Bitcoin.
The Reason Why Governments Oppose It
The main reason why governments deem it as an outlaw is that they cannot control it. Not only that, but Bitcoin excludes the banks and these facilities have always had a close relationship with the governments. They lobby for it to remain illegal and the politics always prevail.
The heavy opposition makes it impossible for experts to conclude what the future holds for Bitcoin. Some believe that it will be legalized, while some think that it will forever remain an outlaw.