Why is Bitcoin the most popular cryptocurrency?

Why is Bitcoin the most popular cryptocurrency?

Michael

The reason behind bitcoin’s popularity:

When bitcoin was discovered in 2009, its popularity was not so much anticipated. According to one interesting account, if you had invested only $100 in Bitcoin in 2009, the current price tag would be about $3-4 million. This is why bitcoin prices and popularity are infinite in the cryptocurrency world. And you can cash your bitcoin earning through bitcoin to neteller



# Decentralized: Bitcoin network is not controlled by any central authority. Each machine that makes Bitcoin mining and processes transactions is considered a part of the network and all the mining machines work together. So, theoretically, no central authority can cheat on this monetary policy and there is little chance of an accident. This protection system is used by people in such a large number of Bitcoins.

# Easy Set-Up: Setting up Bitcoin accounts is much easier than the normal bank account. Anyone with a minimal computer and online working experience can easily open bitcoin accounts. No fees are required to open this account.

# Privacy: A user can hold multiple Bitcoin addresses where they don't have to be associated with a specific name, address, or another person. Usually, such privacy is not seen in the digital currency system in competitive markets. Bitcoin is the first such privacy payment system. That's why ordinary people and businessmen like to use it.

# Transparency: The details of all transactions on the Bitcoin network are preserved through a large general account called a blockchain. This does not allow the user to store all the information of his or her transactions separately. A user can see the transaction process only if he wants to in the Bitcoin system, so there is no possibility of any fraud.


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