In 2024, Bitcoin retains its relevance in the investment landscape, offering unique opportunities that extend beyond the current market’s volatility. From its potential to disrupt traditional financial systems to its role as an innovative tool for portfolio diversification, Bitcoin’s attributes are manifold.
Otc crypto refers to the trading of digital assets, such as cryptocurrencies, directly between buyers and sellers without involving an exchange. This type of trading is often preferred for large transactions, as it provides more privacy and flexibility in terms of pricing. OTC desks, which are usually operated by financial institutions or specialized brokerages, facilitate these transactions, ensuring a seamless and secure process for both parties.
This article explores the long-term prospects that continue to attract investors to Bitcoin, affirming its status as a cornerstone in the diversification of assets in the digital age.
10 Reasons to Invest in Bitcoin in 2024
Here are ten reasons why you should still invest in Bitcoin today.
The international transaction is a nightmare when using traditional money. On the other hand, Bitcoin has no central board to control the delivery of coins. So, cross-border transactions become easy and effective for business owners and freelancers.
Transparent and Secure
The most popular cryptocurrency, bitcoin, operates with a public network called the Bitcoin blockchain. In this tech, anyone can verify the transaction by checking the network public ledger, which has an updated list of all transactions on the network. This ensures the transparency and security of the coin. No one can manipulate or fraud because of the transparency feature.
Offers Potential Profit
The main reason for investment is to produce profit. In that case, bitcoin provides a wide range of potential profit capabilities. Indeed, the BTC price is not as stable as other sectors. But people who invested in Bitcoin in 2009 are now getting benefits. The network’s monetary policy also increases the chances of this happening as there are only 21 million bitcoins that will ever be produced, which are supposed to increase in value over time.
Low Transfer Fee
International money transfer is a tedious process to execute properly. It takes at least one business day and is a 3.5%-10% cut from the main balance. Besides, individual institutions charge different types of fees.
Bitcoin offers lower transaction fees than traditional financial institutions, especially when using its layers like the Lightning network. BTC not only reduces the trouble of manual transactions but also creates an effective impact.
BTC operates without any government or central authority. It is operated by connected computers within the same network. Every bitcoin is connected to the blockchain, and transactions are stored on a public ledger. Because governments cannot track BTC transactions, you can have as much BTC as you want without fearing the government and other third parties. That facility makes it easier to invest in blockchain and in Bitcoin.
Fiat currencies are subject to inflation, which is a hindrance to economic development. When inflation strikes a country, the economy struggles to survive with the unstable flat money. However, bitcoin was created to become an anti-inflationary currency. As such, BTC will not be affected by the risk of inflation in the long run, like fiat currencies.
Bitcoin’s invention aimed at a proper decentralized currency system, where the currency’s maintenance is not controlled by a single entity. Instead, bitcoin is powered by a blockchain network where all the transaction data is stored. Nodes on the network verify the authenticity of all the transactions. This process occurs automatically with no one’s intervention.
When Bitcoin was first invented, many people doubted its potential and scalability. With time, the asset has improved its performance and become popular. Now, international companies are adopting this coin for their transactions.
Financial companies like PayPal and Square are already adopting Bitcoin for payments. It is their first step to hold a strong position of the latest technology acceptance.
Alternative to Gold
For the longest time, gold has been considered a safe haven asset for many investors. Gold also represents financial security according to its value. In addition, it is an expensive item that has weight and is not as portable. On the other hand, bitcoin is weightless and easily transferable since it’s a digital asset. It also has a limited supply, which makes it a better option than gold, whose supply isn’t really quantifiable.
The world will only see a total of 21 million bitcoins. The coin’s scarcity makes it a valuable asset to invest in. Once the maximum supply is reached, Bitcoin’s price will continue to rise, thanks to its scarcity.
Since its inception in 2008, Bitcoin has grown to be a popular asset for many investors. As the ecosystem keeps growing and more opportunities arise, it’ll be interesting to see how the asset eventually pans out in the financial investment space.