Cryptocurrencies have become arguably one of the most interesting (and often lucrative) commodities for trading. Apart from potentially incredible returns, people are also attracted by the idea of financial and economic autonomy and the concept of cryptocurrencies align right with that idea.
We’ve seen cryptocurrencies gaining traction and widespread acceptance over the past few years, which has led to a number of new cryptocurrencies emerging on a frequent basis. While Investopedia suggests that there are about 4000 cryptocurrencies in the world, Bitcoin is still arguably the best and the most popular among all virtual currencies.
How is Bitcoin the Best Among all Virtual Currencies?
Bitcoin reigning in the world of cryptocurrencies for the last decade is not a coincidence. There are multiple reasons due to which people consider it the best among virtual currencies:
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Widespread Acceptance
One of the reasons why people tend to prefer bitcoin over other cryptocurrencies is because of its acceptance across the board. Bitcoin is generally more acceptable for transactions, compared to other alternatives, which makes it a more practical asset to own, compared to other virtual currencies.
Moreover, it is also easier to trade bitcoin, given that the majority of crypto trading platforms such as Crypto Engine software allow you to trade bitcoin, observe its market trends, and take swift actions in accordance with trading signals. A vast variety of trading platforms and software allow people to conveniently choose the one that fulfills their requirements.
Because of bitcoin’s widespread acceptability and convenient trading platforms, it is considered to have high liquidity as well, which offers an investor a significant peace-of-mind.
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Availability of Information and Knowledge
Compared to a lesser-known cryptocurrency, there is a lot more information, knowledge, and awareness about bitcoin and this translates into better-informed decisions for just about everyone.
Because of the volume of information and knowledge that is available, it is easier to observe trends for the value of bitcoin, and perform in-depth analysis, to make better decisions, with lesser risks associated with them.
Adding to it, platforms such as Crypto Engine offer advanced analysis tools, powered by artificial intelligence and machine learning, which can be leveraged to make investments that are less risky and more rewarding.
More information and knowledge also mean that you get to learn about bitcoin from different resources, which can help you become a better cryptocurrency trader in the longer-run.
- Higher Credibility, Security, and Reliability
Bitcoin currently has the largest user base amongst all other cryptocurrencies. Moreover, bitcoin has been out there for the past 12 years and has been offering everything that the entire concept of cryptocurrencies promises, including anonymity and autonomy, without compromising on the fundamentals such as security and discretion.
Lastly, bitcoin was the first ever decentralized cryptocurrency that surfaced, making it the pioneer of this concept and giving it the first-mover advantage. All of this creates a sense of trust in the infrastructure of bitcoin amongst the existing and potential user base, making it more reliable and contributing to its credibility.
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Higher Returns
Bitcoin, by far, has the largest market cap among other virtual currencies. This makes investments in bitcoin more valuable, with higher potential and opportunities for rewarding returns.
Bitcoin is also quite volatile, which makes it a lucrative option to invest and earn hefty returns. All of this provides an incentive to not only wealthy investors and funds, but also to individuals that can purchase any denomination of the currency that they can afford and play around with it.
Conclusion:
Bitcoin continues to remain the leading virtual currency, which isn’t just the most talked about virtual currency, but the most valuable one as well. It recently hit an all-time high market capitalization value, which indicates that it still looks like a promising prospect.
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