After the invention of Bitcoin there are more than 200 Cryptocurrency arrives in the market but still bitcoin is most valuable Cryptocurrency till now. There are so many countries and people from different parts of world who invested in bitcoin as their first cryptocurrency. Today in this post we are going to discuss the reason Why bitcoin is most popular cryptocurrency?
First Mover Advantage:
As bitcoin is the first Cryptocurrency, they got the benefit of first mover. They created monopoly in that particular market. Even after coming so many other options which are more profitable, though bitcoin remain the first priority as it has gained a lot of trust and recognition among people. In business like these there is a great value for people`s trust and bitcoin have that highest in the market.
The method by which a bitcoin can achieved is mining. But mining for a bitcoin need extensive research and so many high powered graphics computer is needed. In contrast the mining of other Cryptocurrency is not that much hard. As it need more work to get a bitcoin, It has more value in market.
There are approximately 20 million of bitcoins available in the digital space. So there is no option that there may be high inflation which will reduce the cost of a bitcoin. In fact if a people bought a bitcoin 5 years ago and today he sell it ,he will become millionaire. In future it will be impossible to own a full bitcoin by a single person as the value will be increasing continuously.
As it depends on block chain method, it does not depend on any unibody organization. So no one can take your bitcoin e.g govt.,banks and even court. So it is a profitable way to invest for many investors. As there are so many country people who trust in this currency and wide acceptance there is nearly zero chance that suddenly one day we will wake up and found that value of a bitcoin become zero.
Division of Each Coin:
As so many cryptographers working on bitcoin more easily transfer can happen. There is a option in this particular currency that no reverse of money transfer can’t happen which is needed for many businessman. As the number of bitcoins of limited, there is a need to divide well the bitcoin among the people and it does happen with bitcoin. You can divide the Cryptocurrencies as much possible in the fraction in seconds and they are still valuable.
Though we can’t say bitcoin will stay in the top for upcoming future too. As other Cryptocurrency are arriving in market and offering quicker transaction and gives more profit so many people are using other Cryptocurrencies too. But it will never easy to replace the bitcoin as it has gained so much attention and pride over the years. So any people who are willing to invest in Cryptocurrency he will definitely thought of bitcoin first over any other cryptocurrency.