Why Bitcoin is the most Preferred Choice

[Japinat]

Bitcoin has so many advantages over gold as an asset. The purchase of gold needs physical contact between the buyer and the seller which might lead to insecurity. To buy bitcoin is easy and secured both the buyer and the seller don't even see each other which is a safe method.

Well, yes, that is indeed true and I'll add another thing. Bitcoin is much more easier to carry compared to gold that has mass and you will definitely gonna need a lot of paper works if ever you decide to move it out of the country, whereas bitcoin doesn't need any of that nor some would know that you're a bitcoin holder.

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[edelynwalker]

Here is the few reasons why bitcoin is the most preferred. Bitcoin is the most popular and preferred choice for online payment due to its secure and transparent nature. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there is a finite number of them: 21 million. This makes it difficult to create counterfeit bitcoins and makes it an attractive option for online payments. Additionally, bitcoin is not subject to government or financial institution control. Bitcoin is open-source and its design is public, allowing anyone to review and improve it.

[qwertyup23]

Bitcoin is good but not the best! We have many other technically advanced cryptocurrencies available in the market. They are cheaper, more anonymous and faster than bitcoin. The only thing bitcoin is good at is the global network of miners. People have invested millions of dollars to setup their mining operations across the world. They are the backbone of bitcoin and because of them bitcoin is the strongest cryptocurrency in the market if we look at its demand and supply.

That's why it is preferable in most of the cases where cryptocurrency is required. The liquidity of bitcoin is highest among its peers. That's what it is, really!

I agree with your statements.

The reason on why BTC is the preferred investment is due to its price on the market. With that kind of market cap and resource, its inflationary nature is to be preferred by either short/long-term investors in the market. But, given the fact that there are also some altcoins that show potential, diversifying your investments would be a better choice in order to maximize profits.

Like what they say, do not put all your eggs in one basket. Diversify and study the market in order to lessen the risk and maximize your profits.

[ilovealtcoins]

Bitcoin as so many advantages as an assets it change people's lives globally today without bitcoin some people would have still they suffering, the main is for you to make your transaction with depending on anyone.
 

Bitcoin changes many people's lives but not everyone will become richer, there are many people investing in bitcoin losing and losing a lot. Bitcoin is a highly profitable investment but needs analysis and research, if you buy bitcoin for $69k, you are currently making a loss, not a profit.

[Yatsan]

Bitcoin as so many advantages as an assets it change people's lives globally today without bitcoin some people would have still they suffering, the main is for you to make your transaction with depending on anyone.
 

Bitcoin changes many people's lives but not everyone will become richer, there are many people investing in bitcoin losing and losing a lot. Bitcoin is a highly profitable investment but needs analysis and research, if you buy bitcoin for $69k, you are currently making a loss, not a profit.

Bitcoin's reputation in this industry is the main reason why people includes this token on their prioritized investment. Even if there are other cryptocurrencies which are having higher market value, and higher rate of increase which could generate bigger profit, Bitcoin is still having edges such as having the biggest tendency to make a comeback after a deep downfall on the market price during bearish trend. And this I think keeps investors into making it a safe haven on their crypto investments. At this moment,  all crypto currencies are still on red marks including major tokens. We might not know when will the recovery occur but for sure investing on major tokens would be a good idea including Bitcoin of course.

[xSkylarx]

Bitcoin as so many advantages as an assets it change people's lives globally today without bitcoin some people would have still they suffering, the main is for you to make your transaction with depending on anyone.
 

Bitcoin changes many people's lives but not everyone will become richer, there are many people investing in bitcoin losing and losing a lot. Bitcoin is a highly profitable investment but needs analysis and research, if you buy bitcoin for $69k, you are currently making a loss, not a profit.

We always think only about getting profit, but when someone gets a profit from bitcoin, surely there are other people losing money. This is really the cycle in the market. I know with the price right now, a lot of people are down, and they are just holding on since they are already down and don't want to sell it at a loss. Bitcoin really is a highly profitable investment, but it is also very risky, and you are very prone to losing all your money if you don't have risk management, so invest what you can afford to lose.

[Ayers]

Bitcoin is good but not the best! We have many other technically advanced cryptocurrencies available in the market. They are cheaper, more anonymous and faster than bitcoin. The only thing bitcoin is good at is the global network of miners. People have invested millions of dollars to setup their mining operations across the world. They are the backbone of bitcoin and because of them bitcoin is the strongest cryptocurrency in the market if we look at its demand and supply.

That's why it is preferable in most of the cases where cryptocurrency is required. The liquidity of bitcoin is highest among its peers. That's what it is, really!

I agree with your statements.

The reason on why BTC is the preferred investment is due to its price on the market. With that kind of market cap and resource, its inflationary nature is to be preferred by either short/long-term investors in the market. But, given the fact that there are also some altcoins that show potential, diversifying your investments would be a better choice in order to maximize profits.

Like what they say, do not put all your eggs in one basket. Diversify and study the market in order to lessen the risk and maximize your profits.

Are you sure that diversifying your portfolio with altcoins will minimize your risk? Crypto market, bitcoin is considered the safest and the whole market depends on bitcoin, that means only when bitcoin grows can altcoins grow, if bitcoin dies, the market disappears.
Therefore, diversification with altcoins cannot be seen as risk mitigation, not putting your eggs in one basket is investing in other assets like gold or real estate.

[CryptoYar]

Bitcoin changes many people's lives but not everyone will become richer, there are many people investing in bitcoin losing and losing a lot.

If you do not have patience and have come to make quick money, then it is possible that you will end up selling at a loss. And lose money.

Bitcoin is a highly profitable investment but needs analysis and research

You don't need to be a master of technical analysis to invest in bitcoin. Or need do any research.

if you buy bitcoin for $69k, you are currently making a loss, not a profit.

The amount of bitcoin decreased? If You bought 1 bitcoin it is still 1 bitcoin. And that bitcoin was once at $0.01 - And it was at $69K last year like you said. And probably after next 2 years it will be above $100K

Better check bitcoin price history: https://bitcointalk.org/index.php?topic=5257620.0 - If you have any doubts about its performance.

[irhact]

Bitcoin changes many people's lives but not everyone will become richer, there are many people investing in bitcoin losing and losing a lot. Bitcoin is a highly profitable investment but needs analysis and research, if you buy bitcoin for $69k, you are currently making a loss, not a profit.

This is because they don't yet understand how the price of Bitcoin works, you don't buy when the price is up and has rise by a very massive number instead buy when the market is down like now and wait for the bull market for you to sell. People are easily moved by emotions that's Why when the price is pumping they rush to buy but stay away when the price is crashing that should have been the perfect buying opportunity.

Bitcoin has given people a reason for it to be trusted that's why it's the most preferred choice to other altcoins or alternative investment like stock or bond trading. Bitcoin is also one of the current investment that can give you high returns in a very short time and that's why it's of huge interest from investors.

[n0ne]

Op have added information about the technical features of bitcoin against other cryptocurrencies that make bitcoin superior. This won't be the understanding with most of the people. Majority of the users have it on the preferred list for the growth it have achieved over the years. Another thing, the track record with stabilized growth even after hard crashes happening in the market.

There are more cryptocurrencies that have provided with better ROI for the investors. However they weren't able to do it in a consistent manner. More cryptocurrencies that got into existence during the days of bitcoin have gone out of the market, but Bitcoin leads the market.

[borovichok]

Bitcoin changes many people's lives but not everyone will become richer, there are many people investing in bitcoin losing and losing a lot. Bitcoin is a highly profitable investment but needs analysis and research, if you buy bitcoin for $69k, you are currently making a loss, not a profit.

Bitcoin is the top investment in the space due to it's trading volume and market cap. It's also popular and people getting essential and explosive investment in Bitcoin with the full hope that it will pump in the nearest future. Top investors and traders have their investment in bitcoin and it's definitely not going to fail, its currently experiencing dump period but will bounced back the moment the bull run up comes. Buying it at $69k is also a big loss, and the best time to buy it is from it's dump price, by next year, it will shoots to the moon.

[panganib999]

source

Bitcoin is Better

One can actually proof this over and over again on the uniqueness of bitcoin as the best and preferable source of an asset and a digital currency that has every tenderness to solve the demanding economic challenge with applicable solutions on many areas in its application, gold is good but bitcoin is a better form of an asset trending whereby everyone want to learn about bitcoin, fiat currency couldn't solve the inflation problem and is being affected to the worst extent where recession now becomes a threat on world economy, here the illustration gives the impression of bitcoin being identified as the choicest and most preferred means to invest with, its both the combination of an asset and a currency in which either gold or fiat couldn't serve and that's why you discover that bitcoin has achieved a milestone worthwhile only within a couple of years.

What you benefits with Bitcoin against fiat or gold

While in addition to what the above illustration gives about bitcoin, i will like to add and give these five quogent points along with what difference bitcoin comes with.
 
1. Decentralization of assets
2. No KYC required for investment
3. Digital and secured form of asset and currency
4. High profitability with less risk
5. No inflation tolerance or price manipulation

agreed. Bitcoin has so much edge when compared to most of the current stores of value we have at our disposal. For instance anything that is physical like gold or precious stones pose issues with insecurity given the fact that the transaction is done person-to-person, bitcoin doesn't have this problem. And compared to other cryptocurrencies it has the benefit of being stable enough, at least in regularity of its price compared to others that fluctuates like crazy, thanks to bitcoin's 4-year cycle brought about by its halving. But all of these are really just miniscule compared to the potential for profit and security that bitcoin brings to the table, it is just unlike any other and is literally a feature that could walk in itself.

[BlackHatCoiner]

You don't need to be a master of technical analysis to invest in bitcoin. Or need do any research.

It's inevitable to do your research sometime. You should never put your money in things you don't understand. If you're about to enter bitcoin, you should learn how it works theoretically, a little bit technically, and read about its history.

The amount of bitcoin decreased? If You bought 1 bitcoin it is still 1 bitcoin.

Profit is both realized and unrealized gains. 1 BTC = 1 BTC, but you have unrealized losses.

[lalabotax]

2. No KYC required for investment

But, if we are buying Bitcoin in exchange, moreover local exchange, commonly we will need KYC and this is required. So, this may depend on where we are changing our fiat to Bitcoin. As long as we can find trusted and reputable P2P without any verification, it is possible, but if we cannot find the trusted one, this is debatable. For In Binance P2P, we also still need to do KYC.

3. Digital and secured form of asset and currency

Every digital project will always have the risk of cyber crime. In this case, we may find certain platforms to keep our assets very safe, but we cannot get a 100% guarantee of avoiding cybercrime. So, be wise and careful every time we are doing to dos something when investing, and never click or phishing links, scams, and others that are probably going to have cyber crimes.

4. High profitability with less risk

Always remember High risk, High return. this is also in Bitcoin. Bitcoin still has risks although it is not as high as altcoins. However, we can minimize the risks as long as we are ready for the investment, and strategy, and not using the money for daily life or saving. For, Bitcoin investment is mainly for long term periods, so we need more times to hold them.

[serjent05]

I agree with your statements.

The reason on why BTC is the preferred investment is due to its price on the market. With that kind of market cap and resource, its inflationary nature is to be preferred by either short/long-term investors in the market. But, given the fact that there are also some altcoins that show potential, diversifying your investments would be a better choice in order to maximize profits.

It is the liquidity that most investors preferred Bitcoin.  Meaning, they can cash in and cash out anytime because there is a huge demand for Bitcoin.  Aside from that Bitcoin market being driven by speculation give huge room for investors' fund to have a huge profit.  The high volatility also brings speculators to try to profit from the price fluctuation.  Investors are driven toward Bitcoin because of the possible profit they can get.

Aside from the market traders, people are driven toward Bitcoin because of the opportunities it offers.  Start-up creates services to tap the possible potential profit that is within the industry, this start up creates jobs for people which can help improve a person's way of living.

Like what they say, do not put all your eggs in one basket. Diversify and study the market in order to lessen the risk and maximize your profits.

True it is always best to have multiple stream of income, same goes with investment and always invest what you can afford to lose

[Bazzu]

Bitcoin as so many advantages as an assets it change people's lives globally today without bitcoin some people would have still they suffering, the main is for you to make your transaction with depending on anyone.
The reliability of crypto is another reason people are choosing to invest in digital currencies. Because there is a finite supply of bitcoin, Trompeter said, it is a long-term and stable form of currency that cannot be subjected to dilution from inflation by political or government agencies.

what is clear is that makes people like bitcoin, because bitcoin buying and selling transactions are easy. so it can be done anywhere and anytime. but of course not everyone experiences happiness and becomes rich, because of bitcoin. not even a few people who become poor because of investment in bitcoin. So there are definitely positives and negatives. but I think now many people are starting to realize the importance of adopting bitcoin because they see good bitcoin prices like from 2010 until now. and that makes them choose bitcoin a lot because they believe that investing in bitcoin will improve the economy.

[silbertlee]

Bitcoin as so many advantages as an assets it change people's lives globally today without bitcoin some people would have still they suffering, the main is for you to make your transaction with depending on anyone.
 

Bitcoin changes many people's lives but not everyone will become richer, there are many people investing in bitcoin losing and losing a lot. Bitcoin is a highly profitable investment but needs analysis and research, if you buy bitcoin for $69k, you are currently making a loss, not a profit.

I started Bitcoin with more than 50,000 US dollars, although I saw people in the forum often said that long-term holding requires faith and faith. But what I want to say is that this process is very painful. I see my assets slowly draining day by day. Coupled with the economic downturn in recent years, sometimes ideals lose to reality.

[RolonNigel]

The anonymity of Bitcoin can protect people's privacy very well. Bitcoin is central among cryptocurrencies, and Bitcoin influences the price movements of other altcoins. You can use Bitcoin all over the world.


You can use Bitcoin to pay at supermarkets, convenience stores, and shopping malls. But don't just trust strangers and send money to others. If Bitcoin is cheated, there is a high probability that it will not be recovered.

[blockman]

You can use Bitcoin to pay at supermarkets, convenience stores, and shopping malls. But don't just trust strangers and send money to others. If Bitcoin is cheated, there is a high probability that it will not be recovered.

Bitcoin won't be cheated but the person can be, like what we've been seeing in those that have been victimized by phishing websites. They're the victims and are being cheated on.
They're not aware of it and thought that the website they're visiting is the correct one and so, because of likely being new when asked about their private keys, they don't know that it shouldn't be shared but they do so they fall to the trap and becomes the victim.

[gunhell16]

In this era, bitcoin is well-known all over the world, especially in the civilized areas that internet technology can reach. Many large companies have adopted it and even famous businessmen like Elon Musk have large amounts of bitcoin holdings.

Most people in this generation use Bitcoin on exchanges that have p2p transactions so that others can also buy and withdraw in this regard. Apart from no KYC if an exchange is a decentralized platform, and if you enter a P2P exchange, KYC only enters there because it is centralized. And anyone can have Bitcoin whether you are rich or you are a middle-class type of person or even poor person.