Once again, Bitcoin is dominating the news as this cryptocurrency is shattering records in value. As of mid-February, its price is close to $50,000 and from what we can see, the rise does not plan on stopping anytime soon. Most recently, Tesla Motors helped Bitcoin rise even more by purchasing $1.5 billion in Bitcoins and announced that they are planning to integrate it as a payment method.
There are two areas in which Bitcoin is superior to all other currencies and payment methods. The first one is online payments and the second one is making a profit. We all know how Bitcoin traders can turn into overnight millionaires by selling this cryptocurrency. Although we are going to focus on how Bitcoin improves online payments, we are also going to take a quick look at how people are making a profit with it.
Making a Profit With Bitcoin
To earn Bitcoin, you must mine it or buy it. Buying it is easy; mining is the harder option which is why we are going to explain that one. With mining, people are required to solve various complex puzzles. In doing so, they record and verify Bitcoin transactions. Logically, the reward for every solved puzzle/recorded transaction is Bitcoins. Mining is very hard, but due to the fact that it is free, the chances of making a big profit are much higher.
After you earn it, comes the part where you sell it. This is where trading sites join the discussion. Trading sites are platforms that actually help traders sell their Bitcoins. How? They use advanced AI systems which collect all the data on this cryptocurrency on the market, analyze it, then predict its future fluctuations.
One of the most reputable trading sites these days is https://bitqs.app/. This platform can provide you with detailed information on the future price of Bitcoin and lets you know when is the best time to sell them. The daily profitability rate at this site is huge and there are thousands of registered users from all around the world that use its services.
Now that the process of making money with Bitcoin is all cleared out, let’s see how it improves online payments.
Transactions are Instant
Payment methods such as credit and debit cards take some time before they are completed. You may be able to send funds instantly, but due to the processing time that they have, it will take up to 7 business days before they are transferred.
That is not the case with Bitcoin. Instant transactions are one of the biggest advantages that this cryptocurrency has over FIAT currencies. Because we live in a time where most of the payments are done online, fast transaction is a huge benefit. We pay the bills online, shop for products and services, purchase tickets, arrange travels, etc. With Bitcoin, each of these transactions would be done instantly.
Users are Safe
Bitcoin is utilized by cryptography, which is a method that masks information by using codes. Not only does this method make the transactions more secure, but it also provides users with a certain level of online anonymity. Anonymity increases the overall security of the users, which is a big benefit since we live in a time where the number of online scams keeps rising.
Far More Stable Than Other Cryptocurrencies
Many people consider using other cryptocurrencies as well. The problem here is that none of them is even close to what Bitcoin has to offer. Bitcoin is far more stable than other cryptocurrencies, its infrastructure is bigger, it is more valuable, and most importantly – it is way more stable than the competition. These factors are the reason why Bitcoin has been at the top since the beginning.