Alex Metzger Alex Metzger 23.12.2021

Community Opinion: How Can One Benefit from Bitcoin

Many have described Bitcoin as the next big thing after the internet. Financial experts argue Bitcoin has a more significant potential to revolutionize the global financial sector and impact lives in ways never realized before. Bitcoin offers robust economic opportunities and numerous ways for individuals to make money. So, how can one benefit from Bitcoin? Here are the key benefits to enjoy when using Bitcoin. 

Decentralized Transactions 

Fiat money usually stipulates the public must transact within the regulatory frameworks. That gives the banks and money processors the ultimate authority to regulate almost every aspect of transactions. It means you can only transact what they allow you to, making the system quite biased and discriminatory. 

Bitcoin lifts such burdens because it is a decentralized medium. Unlike fiat money, this virtual asset is not subject to any government or central authority. Thus, you don't require permission from anyone to send or receive Bitcoin. Besides, Bitcoin facilitates cross-border money transfers, meaning you can transact with whomever you choose worldwide. 

Bitcoin's decentralization enables investors, businesses, and individuals to transact globally without external manipulation. It operates on a peer-to-peer network, exclusively connecting two parties engaged in a transaction. Besides, Bitcoin allows you to transact anonymously without revealing your real identity. 

Bitcoin as Payment 

Businesses can also achieve extensive benefits from incorporating Bitcoin as a means of payment. Doing so would offer your customers more options during check out, ensuring greater convenience. Adopting Bitcoin as payment in your store would also enable you to expand your customer base exponentially. 

The crypto revolution has inspired an emerging global market of tech-savvy consumers seeking crypto-friendly businesses with which to transact. Incorporating Bitcoin as a means of payment will enable you to capture that market and increase profitability with fewer risks. Bitcoin can also allow your business to cut operational costs due to its relatively lower transaction fees.  

As an individual, using Bitcoin to pay for goods and services would also ensure greater convenience, eliminating all the inefficiencies of dealing with money processors or banks. 

Bitcoin Investing 

In the early days, critics described Bitcoin as a discriminatory currency that only favors a handful of elite and tech-savvy individuals. However, that is not true because Bitcoin is not subject to any central entity. Instead, it is a decentralized asset that anyone can invest in, promising huge returns on investments. 

Depending on your investment goals and budget, you can invest in Bitcoin in the short term or long term. Bitcoin day trading would be the most appropriate strategy for making short-term profits with Bitcoin. On the other hand, you can also try Bitcoin HODL, a long-term investment strategy whereby you buy and hold Bitcoin for an extended duration. 

Bitcoin HODL is a more lucrative investment strategy because of Bitcoin's growing market demand and diminishing supply. That allows Bitcoin to gain immense value over time, boosting profitability for long-term investors. Reputable crypto platforms such as bitcoin era app provide up-to-date market statistics and analytical tools to enable investors to maximize profits. 

Low-cost Remittances

The affordability of Bitcoin transactions is also another reason you should consider using it as a payment and investment instrument. In the absence of third parties, Bitcoin transactions cost relatively lower than credit cards and bank transfers. Bitcoin does not operate on brick-and-mortar buildings, significantly reducing transactional costs. Besides, paying for goods and services in Bitcoin does not require exchanging the funds into local currencies, enabling you to avoid currency exchange costs. 

Bitcoin offers you the freedom and autonomy to transact with businesses and individuals worldwide. It also provides unique and lucrative economic opportunities that you can easily leverage to make money. You will discover even more benefits as you continue using Bitcoin.