Bitcoin is the top cryptocurrency that has a lot of special characteristics among other virtual currencies. Since the last few years, the growth & usage of bitcoin has improved unexpectedly. Bitcoin has proved its power among fiat currencies & other cryptocurrencies.
Why bitcoin is facing this spectacular reach among people & business enthusiasts. Because bitcoin is open-source, more secured, & has the highlight of decentralization. After the advent of bitcoin, it becomes the source for a lot of bitcoin business startups and that’s why there are a lot of exchange websites that remain in their demand.
Meanwhile, bitcoin is used as a business source, since it offered a lot of business-related opportunities. Bitcoin wallet, bitcoin faucets are some of the example bitcoin business sources. Many service provider companies are available to provide bitcoin wallets, Bitcoin exchange software, etc.
let’s get back and discuss in detail something new about bitcoin!
Volatility & Liquidity: A comparison between bitcoin & its Alternative Crypto coins
The Crypto community always opens for new crypto coins, but why this happens?
Willy Woo – Cryptocurrency enthusiast says.
” The arrival of new crypto coins shows that there is a battle to become the general payment coin.”
Yes, of course, he is exactly right, there is a war between bitcoin and altcoins. But the thing we have to accept here is bitcoin has already been accepted as a payment option by many organizations. Liquidity & volatility are the most important factors for a coin to be useful for general trades. If there is high volatility then there must be too much risk to hold findings, wallet recharge, & merchant fees will be high.
Achieving low volatility than sheer liquidity will be the key to mass adoption hence bitcoin fulfills that. For example, if nobody uses your coin because of high volatility then there is no use in having the liquidity to assist in lowering merchant fees. The comparison of volatility and liquidity between bitcoin and other crypto competitors(monero, dash, zcash, shadow cash) results that, the newly arrived coins are meeting high volatility in their beginning where bitcoin remained lower.
Bitcoin Hedge Against The Traditional System: Could It be New Gold?
Bitcoin has traditionally been seen as a safe asset for investors to invest When uncertainty and risk are high. Likewise, bitcoin now attracted investors when uncertainty and risk are high.
Bobby Lee, CEO of one of the popular exchanges in china says that “ The world is starting to realize that As like the gold, bitcoin is a great hedge against the system since it is outside of the system.”
Indian Bitcoin Infrastructure Becomes More Robust!
Unlike other regions, the Indian bitcoin marketplace has a robust infrastructure, with reputable bitcoin exchanges. The top three exchange websites in India are offering the necessary infrastructure for Indian traders to trade bitcoin with ease.
The CEO of Unocoin, says that,
“before two years, I had to explain to the people what is bitcoin, but now they are well aware of bitcoin and its usage”.
And he states their company earns over 1.27 lakhs of users in just two months of the period” Currently, the price of bitcoin is above 1000$, hence the rise in the values has achieved from the demonetization of banknotes. We can strongly say that it will cause bitcoin to rise further in the future.