Cryptocurrency is also a very hot currency today, and among the cryptocurrencies, Bitcoin is undoubtedly the leader, commonly known as the “king of coins”, so what are the advantages of bitcoin? What does Bitcoin do?
Advantage analysis
Stability of 1.
This means that the medium is not easily destroyed, for example gold is very difficult to destroy. Fiat dollars get worn and torn over time.
- The separability
This means that the medium can be divided into smaller units. Gold can be melted and made into smaller units, and dollars can be broken down into cents. Bitcoin, on the other hand, can also be broken down into smaller units, all the way to eight decimal places, or 0.00000001 to be exact (known as Cong).
- Easy identification
The medium is not easily counterfeited. Gold and fiat coins are difficult to counterfeit, but with the development of technology, they are possible. But Bitcoin is impossible to counterfeit because it uses cryptographic hash functions that make each one unique and impossible to copy.
- Easy to trade
This means easy to use or easy to exchange. For example, although gold can be used for transactions, it can’t be used as a form of payment everywhere (you can’t pay in gold directly at a store).
- Scarcity
To maintain the value of money, its supply must be limited. Gold, for example, is finite, though it is not clear how much of the world remains unmined. Fiat money can be printed by the central bank, making it unlimited and inflating. There are a finite number of bitcoins and Bitcoin Cash (only 21 million).
The independence of the 6.
Legal tender is money issued by the government and can be influenced by the government. The digital currency Bitcoin has no issuer, it is a currency of autonomy.
- Decentralization (decentralization)
This means that there is no single organization or group that controls it.
Intelligent 8.
The invention of Bitcoin made money smart, where it was possible to frame the characteristics of money into the best possible form of money.
Here are four uses for Bitcoin today
- The precious metal
Dozens of companies can use bitcoin to buy silver and gold bars, which can be purchased on multiple Bitcoin exchanges online and are already available in many countries around the world. In the future, Bitcoin will become more widely available for payment
- The real estate
When it comes to buying luxury goods, real estate is another industry where crypto is perfectly acceptable. Recently, many real estate agents have started accepting bitcoin payments, and there are even Bitcoin-themed real estate companies. The site helps customers put their homes on the market and sell them for Bitcoin.
- Travel
Booking accommodation and ticket travel is one of the fastest growing businesses in the world. It is also one of the most innovative. Sites like CheapAir and Expedia accept bitcoin payments for hotels, motels and trips, and CheapAir even has a dedicated server for bitcoin users. In addition to booking, you can also pay for flights using a variety of cryptocurrencies. Last year, AlternativeAirlines in the UK teamed up with Utrust, a Swiss digital payments company, to create the first website that lets people pay for their flights in cryptocurrency.
Game 4.
Throughout its history, the game industry has placed a high value on new cutting edge technologies. Remember the VR boom of the late ’80s and early’ 90s? So it’s not surprising that the industry has spawned companies that accept crypto and micropayments.
As Bitcoin continues to mature and grow in popularity, major chains such as Starbucks, Nordstrom and Whole Foods have begun accepting cryptocurrency payments. The rest of the world is getting in on the act, and it will continue to grow.