Day: December 30, 2018

How Much Is Bitcoin Really Worth? A Complete Guide


For trying to understand the worth of bitcoin, it is important to consider the below points:

Physical money is minted, distributed and controlled by respective central banks in each country.  But bitcoins are beyond the control of the banking system.  Here the transactions are stored in digital ledger using blockchain technology.

The initial coding of bitcoin was done in such a way that maximum existing bitcoins cannot go beyond 21 million.  Hence bitcoin is very scarce.  It is not like physical money which is printed.  Depending on the economic situation and inflation, the physical money supply is increased or decreased.  But bitcoin cannot go beyond a certain level.

There are many benefits while using bitcoin.  It can eliminate forex conversion risks, credit card, and online frauds.  It cannot be printed too much causing damage to the investors.  When accepted as an authorized mode of payment, bitcoins will help in stabilizing and uplifting dull economies.   You can check for more benefits in CoinSpot Review 2018 – Australian Cryptocurrency Exchange

Physical money involves multiple risks.  It is too costly to mint.  It has so much of regulatory norms ruling the distribution.  It is not safe to carry.  It can fluctuate in value drastically.  It does not have technological protection.  Hence printing counterfeit money is easy.  Physical money is associated with too much of frauds like credit card frauds.  It is out of reach of people who are not covered by banking.

But bitcoin overcomes all the above drawbacks.  The current value of bitcoin may be around, say 13000$.  But taking into consideration all the above advantages, the real worth of a bitcoin is much more.  Only when countries switch over to bitcoin, people will be able to realize and appreciate the real benefit of bitcoin usage.  It will be a common currency irrespective of nations which will bring positive changes in the world.