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Author Topic: What you can benefit from investing in Bitcoin  (Read 152 times)
Fiatless
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January 14, 2024, 05:30:24 AM
 #21

As a late investor in Bitcoin, I have come to realize some benefits from investing in this cryptocurrency which includes:
1: With just your smartphone you can carry out financial services.
I don't think people who recently invested in Bitcoin are late investors. Bitcoin is still in its infant stage and has the potential to keep growing. Therefore we should be pleased that we are aware of this cryptocurrency because many people will join later. Online banking exists, so it is not only Bitcoin that gives the privilege of using smartphones for financial transactions.

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2: In bitcoin, you have full control of your financial assets. You have ownership to your private keys which is not always available in our normal banking.
An investor will have full control over his financial assets if he decides to keep it in a non-custodial wallet which gives the individual full control of the private keys. If one keeps his funds in centralised exchanges or custodian services, such person has lost full control of the fund.

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3: As freelancer who works online, you can use bitcoin to facilitate some of your transactions.
4: As a business owner or an entrepreneur one can accept payment in Bitcoin. 
Bitcoin is not only effective in online business transactions many offline businesses use it to pay for both national and international trade. This is because there are minimum amounts you can deposit or withdraw from your wallet. Most banks have the minimum amount customers can deal with over some time and this could impede business transactions.

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5: When there is currency devaluation, one can use Bitcoin to protect their wealth even though there is risk of price volatility.
My country's currency lost 50% of its value just this year. This is why Bitcoin could be used as a potent hedge against inflation. Most Bitcoiners in developing nations use bit Bitcoin as an Investment and to protect themselves from the loss of value of the local currency.

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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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January 14, 2024, 06:38:41 AM
Merited by Asiska02 (1)
 #22

As a late investor in Bitcoin, I have come to realize some benefits from investing in this cryptocurrency which includes:
1: With just your smartphone you can carry out financial services.
2: In bitcoin, you have full control of your financial assets. You have ownership to your private keys which is not always available in our normal banking.
3: As freelancer who works online, you can use bitcoin to facilitate some of your transactions.

These are three reasons why I will not hesitate to learn more about the technology in bitcoin and educate myself more on how I can invest in bitcoin as well.
Firstly, with just my smartphone I'm able to do virtually everything I need to do in terms of self-services without having to knock at the doors of any bank for over a year or two now. This I believe also opened doors for more banks to go smart in their technology thereby adopting the use of mobile banking app as an alternative to their physical banking.

Secondly, I have never personally felt so secure with my financial assets, like when I use Bitcoin because of the full control I have over my wallets. Unlike the normal banking platforms where I fear liquidation of banks thereby running away with my savings and investments or situations where they default government rules and get banned, then you have to start being worried about the safety of your finances amongst others.

Also, the fear that you do not have control over your own assets as they can be tempered with and some banks will use your money to trade in their businesses without giving you the desired interest is another angle. Other than that will also include that, with Bitcoin, which is open-sourced and can be monitored by me, I feel more safe to invest in such system since there's a quantifiable amount of security to that and as an address owner. You feel your ownership right with you.

Thirdly, I'm also a freelancer and I have got clients from different parts of the world. I have encountered with clients who requested to pay on my wallet instead of using the banks. This is because I think it is easier for them due to the forex exchanges and the difficulties in forex trade. Also, before I started using Bitcoin for international transactions, clients will pay me for a job and it will take another extra 3 to 7 days at worst cases to arrive. It was so boring and tiring for me but with my wallet, every transaction is made swiftly in just seconds and I can immediately swap it out for use.

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4: As a business owner or an entrepreneur one can accept payment in Bitcoin. 
5: When there is currency devaluation, one can use Bitcoin to protect their wealth even though there is risk of price volatility.

For any individual who has not invested in Bitcoin, I would advise you to give it a try. Ignorance shouldn't prevent you from investing in Bitcoin. Read, research, and gather all the knowledge you need to know about it here.

Ignorance should not stop us from learning and I also advise us to be perpetual learners, educating ourselves on the new financial breakthroughs like the cryptocurrencies and how they operate and this will help make your life better and much more easier than the way the government takes it.

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January 14, 2024, 07:49:02 AM
 #23

2: In bitcoin, you have full control of your financial assets. You have ownership to your private keys which is not always available in our normal banking.
This is the most significant advantage of using bitcoin out of all the others. Our financial independence from bank and government oppression is what led to the creation of Bitcoin. It is really unfair of the government to treat people in this manner and to attempt to regulate our financial decisions. Since bitcoin was created to solve this problem, the government and banks have lost out on the financial advantages that come with managing our money, which is why the government has always opposed bitcoin use. We currently enjoy a decentralised system where we have complete custody of our money, all thanks to Satoshi.

The many advantages we can gain from investing in bitcoin are not limited to these. The use of bitcoin give users utmost security and privacy of one’s assets and if has bring about development and new innovations around the world It is also a tool that unites people from various parts of the world with a common purpose so bitcoin should be seen more than just a financial instrument.

For any individual who has not invested in Bitcoin, I would advise you to give it a try. Ignorance shouldn't prevent you from investing in Bitcoin. Read, research, and gather all the knowledge you need to know about it here.
Over time, ignorance has been a significant barrier preventing individuals from using bitcoin, but progressively, bitcoin usage is rising and more people are understanding the concept. One cannot understand how to invest in bitcoin without knowledge, and some individuals have not had the opportunity to learn about bitcoin, which is why they have not made an investment in it as of yet. In a few years, as bitcoin gains popularity, more people will grasp its idea and the adoption rate will continue to rise.

R


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January 14, 2024, 10:53:17 AM
 #24


I must say, the first thing I had to look out for after seeing your thread header was if you own at least some fraction of Bitcoin at all. As, one can’t go ahead talking about benefits on some commodity that you don’t possess. Of course you might find them on some piece of material somewhere but, nothing talks about benefits more than when you’ve got that commodity in your possession and experience it first hand.

If you read the OP's post carefully, you can understand that he is talking about himself as a late investor.
We can also understand those newcomers who do not yet have a dollar in Bitcoin, but they will still call for investment since everyone understands that newcomers need merit. Or even being a late investor, having bitcoins worth some 20 bucks, an increase of five or ten dollars already makes such an investor rejoice.
Where I disagree with the OP is the call to invest no matter what. Investing despite not having the right knowledge will always lead to loss, further disappointment, and an unlikely return to investment, especially for people who save on everything.
Therefore, haste and the fear of not being on time are always very bad. Walk slowly, and be sure you know what you're doing.

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