Bitcoin Has Its Own Value

By Rjain July 13, 2017 10:35

Bitcoin Has Its Own Value

Bitcoin Has Its Own Value

Value has certain importance in the society, so each and every item or person will have their own value. In the same way, even bitcoins are having value and demand all over the world. But every user would like to know what are the reasons behind its value and importance. So now its time to get into the details regarding the value of bitcoins.

Reasons behind the value of Bitcoin

Bitcoins have their own value as a digital currency, these days they are being considered by most of the public for transactions or payments or in online purchasing. Day to day, users of bitcoins have been rising and huge number of them are showing interest because of its time saving feature. One of the other main reason is that it has no governing authority and users themselves are owners. But it still hard to know how and from where it gets the value. So let us point out to some of the important features of it that makes it to give attention.

Since the launch of Bitcoins from 2009, this digital currency exists in decentralized form only and is the first one to exist in this form in the entire world. These bitcoins will be generated upto a limit that is until it reaches 21 millions only. Hence this will be another reason for bitcoins to get popularized and used.

All the currencies have value

Apart from bitcoin digital currency,  all the traditional currencies will have certain value that depends upon their demands. According to the economical society each and every item have their own subjective values. These economic values for any item comes only through the likes and dislikes of public. Henceforth all types of currencies or any financial services will have their own value as they serve various purposes in this world. Currency plays a major role in this world, without which there will not be any development and it gets certain value due to saving, investing or for any other banking services. Even items such as Gold will have high value because they are being used by large number of people as commodity as per requirement. Lets have a look how much and why does bticoin gained the value.

Bitcoin and its value

Though bitcoin is not used as commodity but still it has got its own value. Lets check the reasons behind the bitcoin value.

  1. Bitcoins are decentralized form

One of the most important reason is that bitcoins are decentralized form of currency that is not governed by any organization or authority or government or bank. Hence there will not be any taxes collected, this point attracts people to make use of bitcoin only in all payments and transactions.

  1. Bitcoins usage is increasing day by day.

As the large number of people are using bitcoins for trade. Hence if one person trade using bitcoins in B2B, then others will also trade using the same. In this way, bitcoins are becoming popular. Also in the bitcoin network, people are showing interest to trade only through this currency because it has not been under governing authorities.

  1. Bitcoins are limited

As all the currencies are limited by banks or other authorities, in the same way bitcoins creation is limited to 21 million only. At that point, there is a cap set on the existence of bitcoins for ever.

  1. Censorship Resistance

Bitcoins has the ability, which can be used in all the type of transactions that will normally censored even by other payment networks. Hence it is popularly known as Censorship Resistance according to the bitcoin network.

  1. Bitcoin considered has investment option

Bitcoin can also be considered as an investment option because always the market value of bitcoins rises. Hence huge number of people shows interest  to trade using this currency.

  1. Bitcoin online community

Bitcoin is similar to that of other online communities. It will be active and users go on adding in it.

  1. Supply and demand

Bitcoins being digital currency and are used alot in trade. Hence there comes the rules of supply as well as demand.

  1. Seamless Transfers

Bitcoins have more value and considered as better option then other currencies due to fact that it allows to transfer currency digitally in seamless way. Also it can be used across the borders without facing any difficulties.

Hence all the above are the most important factors that make bitcoin valuable, like all other currencies. Though the characteristics may differ from other type of currencies but still it has its own value unlike all the traditional currencies.

By Rjain July 13, 2017 10:35
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