The cryptocurrency craze has increased several folds in the last few years. One of the main reasons behind this is the growing popularity of Bitcoin. Various industry leaders and global personalities such as Elon Musk are vocal about crypto. Apart from that, people slowly realize how Bitcoin works. There is a booming conversation about crypto as the right thing to invest in.
All in all, the global community is gradually changing into accepting Bitcoin as a legit form of asset and investment. Almost five decades have passed since the idea of cryptocurrency first emerged during the late-70s. It has indeed been a journey.
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Valued at USD 64,782, Bitcoin is the most expensive cryptocurrency in the world today. With each passing day, newer ways of use are coming up. With the spread of intelligent devices and the internet, people have become more aware of what Bitcoin is, how it works, and its advantages compared to the traditional forms of finances.
No other cryptocurrency in the market is as popular and trusted as bitcoin. A lot of it has to do with the celebrity endorsement it has received in the last decade. From Ashton Kutcher to Snoop Dogg to Kanye West, almost every big and famous celebrity has mentioned bitcoin trading in front of the camera.
There is yet another reason Bitcoin has gained so much popularity and following within a short period – trading applications, as we all know that a massive boom has happened to smartphone users. Presently, around 5.07 billion people use a personal smartphone device. On the other hand, the total number of people who regularly access the internet amounts to nearly 5 billion.
Due to these factors, people can easily access mobile-based applications for trading in bitcoin. Platforms have made the process simple. People can buy, sell or deal in Bitcoin from any part of the world and at any time. And that too from their mobile phones. Check the image below to start trading bitcoin.
There is no point ignoring the fact that this phenomenon has also played a significant role in increasing the visibility of cryptocurrency, especially Bitcoin.
One of the noticeable things in recent times has been the exponential growth of Bitcoin. How did this happen? Let us look into some of the reasons that will make it clear as to how Bitcoin got the first position in the long list of the existing cryptocurrency at this point –
1. First-Ever Crypto –
Bitcoin was the first digital currency that was minted by Satoshi Nakamoto back in 2011. That is why it is used synonymously as crypto. You will come across many people who address cryptocurrency as Bitcoin itself. This feature is why Bitcoin is so famous.
2. Substantial User Base –
Bitcoin was the first crypto also means that it has a vast user base. Before the formation of alternative digital currency, such as Ethereum, there was Bitcoin. Most industry specialists started mining at the first mined bitcoins, so it has the most extensive user base.
3. Trust-
The first crypto to ever exist was Bitcoin. Millions of miners and traders worldwide became millionaires overnight, and following that, there was a boom in the number of people who regularly interacted with cryptocurrency.
4. Easier Transactions –
Bitcoin transactions are simple, easy, and fast. There are thousands of mines spread all over the world that are continuously working towards maintaining the blockchain. Indeed, people prefer Bitcoin over other cryptocurrencies.
Universality – Bitcoin is used for transactions almost everywhere in the world. The global reach has helped Bitcoin gain users over time.
Conclusion
Now that you know why Bitcoin is a preferred cryptocurrency, it will be easier for you to navigate the significant growth it has seen in recent years. Bitcoin’s success is also the result of dedicated miners working from the corners of the world. If you think that you have it in you, we are sure that you will make it in the crypto industry!
