There are innumerable advantages that Bitcoin offers over regular payment methods. They are the reason why millions of people around the world love this cryptocurrency and use it quite a lot. These benefits include greater security, instant online transactions, and of course, the ability to make money.
In addition, Bitcoin is far superior to other cryptocurrencies. Thanks to its superiority and great advantages, many people are demanding that Bitcoin be finally legalized so that they can take advantage of its advantages, and some more. Still, governments around the world are against it and consider it an illegal currency.
We wanted to take a closer look at this case and see how it will affect Bitcoin in the future.
What is the difference between Bitcoin and other cryptocurrencies?
There are several areas where Bitcoin is superior to other cryptocurrencies. For starters, over 90% of crypto users around the world only use Bitcoin. This leads to other advantages such as a larger and more stable network. In addition, new users register on the network every day, which means that the infrastructure is constantly growing.
In addition, Bitcoin has far greater liquidity than other cryptocurrencies as it is easier for users to turn their assets into profits. Speaking of profit, the final benefit we’ll mention is its value. No other cryptocurrency comes close to Bitcoin at all. As of early April, Bitcoin is worth more than $ 55,000, which is an intriguing number.
Its value and the fact that most crypto users sign up to trade Bitcoin is why trading sites are optimized and focused on using Bitcoin. In addition, reputable platforms like Bitcoin Billionaire even use AI systems to analyze the market and use the data to make accurate predictions about future fluctuations. The platform I just mentioned is one of the most trustworthy in the world and has a very high rate of return on investment.
Now that we’ve explained what sets Bitcoin apart from other cryptocurrencies, let’s see why it should be legalized.
Why Bitcoin should be legalized
The first reason Bitcoin should be legalized is that it will make all online payments far more efficient and secure. Given that we live in a world where most transactions are completed online, a method that makes the process look easy will be greatly appreciated.
In addition, we live in a time when online fraud is common and many people around the world fall victim to it. Bitcoin offers its users a certain level of anonymity, which makes it nearly impossible for scammers to outsmart them.
After all, there are tons of companies out there, including global brands like Tesla, Microsoft, Wikipedia, Shopify, and Expedia, that are already accepting Bitcoin as a payment method. If you do it legally, the method can continue to grow and get even better at what it does.
Who knows, maybe the government could even regulate the market in the future if it benefits from Bitcoin.
The reason governments are against it
The main reason governments consider it illegal is because they cannot control it. In addition, Bitcoin excludes banks, and these institutions have always had a close relationship with governments. You are committed to ensuring that it remains illegal and that politics always take precedence.
The strong opposition makes it impossible for experts to conclude what the future holds for Bitcoin. Some believe it will be legalized while others think it will remain an outlaw forever.