Prominent Factors Behind The Growth Of Bitcoin

 If we look into the contemporary scenario, the old tactics are now getting replaced with new digital methods. 


And when it comes to citing a perfect example for digital advancement in the payment context, then it is cryptocurrency. 


Bitcoin, the foremost digital currency is known to be that underlying reason which laid the foundation of new financial technology that would pose the best substitute to fiat currencies. 


It made its debut on 3rd January 2009 by a mysterious founder Satoshi Nakamoto. Ever since it began its operation, it gained attention worldwide. 


The initial transactions that were made with Bitcoin were two pizzas for 10K. If you have been staying abreast with the latest news on cryptocurrency on Cryptoknowmics, then you get the chance to brush up your GK of the latest trends in the crypto world. 




Prominent Factors Behind The Growth Of Bitcoin


Now, let us highlight some of those factors that became the underlying reason behind the growth of the dominant cryptocurrency Bitcoin. 


Simple Transaction


Both BTC and blockchain have made the process of transactions too simple for the users. In comparison to government-issued currencies, the transactions done with Bitcoin are minimum at 2%. There is no need for a standard price charge like in the case of government currencies. 


No Involvement Of Government & Mediators


In the case of transactions done with Bitcoin, you won’t find any role of central authorities like the government or any mediators. This proved helpful for the travelers from abroad in getting a sigh of relief from keeping long patience in the process of currency conversion. 


Other Reasons


The advent of Bitcoin-based sites and acceptance by major market players are also the actual reasons behind the growth of the latter crypto coin. Other than Bitcoin, now one can even stay abreast with altcoin news. 

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