Bitcoin remains the biggest and the fastest-growing of all digital currencies out there. The world seems to love it and many consider it the only viable investment when they step in the cryptocurrency world. There are other big names, but Bitcoin holds a special position in the hearts of people. For someone who wishes to invest in digital coins, they should definitely look at the prospects of trading Bitcoin over other cryptocurrencies.
Most believe that even if the cryptocurrency market does not prosper in the future, Bitcoin will still be there standing strong. Are you someone who thinks you should put your money behind some other digital coin? If yes, then you should keep reading. Here is a case in favor of Bitcoin and why you should consider it over others.
Valued the Highest after More than 10 Years
You have often heard people saying that getting the top position is not the biggest challenge. The biggest challenge is to gain the position and sustain it. Don’t you see this happening already when you look at the statistics of this giant digital currency? It has been around for more than a decade now and since day one, it has stayed at the top. No other cryptocurrency has come even close to it. At the time of you reading this sentence, Bitcoin is trading at above $63,769. Yes, if you were trying to confirm, that’s the USD in that figure.
You can see how strong this currency is and it has only been gaining momentum since the day of its inception. After several years of staying the biggest digital currency in the world, Bitcoin has proved that it is the best and most viable investment for anyone in any part of the world.
Its Liquidity Is Comparatively Higher
Now, the first thing you have to keep in mind while trading, buying, or selling digital coins is that they are still new assets. They have been around for a decade, whereas other assets have been around for centuries. Based on that, you can still call them the relatively unsafe options. Despite that, you have Bitcoin trading as one of the most liquid digital assets out there. What it means is that trading with this crypto asset and using it at various places is much easier than it is to trade other digital currencies. When it comes to liquidity, only Ethereum comes slightly closer to it.
You have a variety of exchanges on the internet that deal only in Bitcoin. If you have any other digital coin, you will not be able to use it on those websites. On the other hand, just about any crypto exchange out there will accept Bitcoin. Not only that, they will also allow you to trade in both directions i.e. selling Bitcoin or buying Bitcoin.
Millions of Users around the World
The sheer number of people who have Bitcoin or are trading it every single day is enough to prove how widespread this digital coin has become over the course of years. As per the recent statistics, more than 100 million people own or have owned Bitcoin at some point in life. More importantly, over 400,000 users become active every single day to either buy or sell Bitcoin. The people trading this digital currency are also increasing with the passage of time. You have 53 million people who are considered to be trading using BTC. They are active on a variety of trading platforms.
Keep in mind that just because some people don’t have BTC in their personal crypto wallets does not mean they don’t have it at all. They might have it in their online exchange wallet.
With these things in mind, it should be clear to you why the world is so crazy about trading this digital currency compared to any other out there. Its increasing value, acceptability around the world, elevating liquidity, and trust make it one of the best among more than 4000 different digital assets in the world.