• News
  • Celebrities
  • Finance
  • Crypto
  • Entertainment
  • Travel
  • Health
  • Others

Why Bitcoin Is Valuable Than Other Cryptocurrencies

Bitcoin became the first successful cryptocurrency. After its popularity, other cryptocurrencies, including Ethereum and Litecoin, emerged. Altcoins is a general term used to describe all the other cryptocurrencies. But none of these digital currencies has beaten Bitcoin. This pioneer currency's price has dramatically increased since its introduction in 2009.

Despite the volatility of this digital money, Bitcoin is a perfect store of value for investors due to its long-term record of increasing and maintaining its weight. But no physical commodity backs this virtual currency. So, here is why this virtual asset is more valuable than other cryptocurrencies. So, if you are planning to trade Bitcoin, you may consider using a reputable trading platform like http://bit-indexprime.com/

Reliability

Within the thirteen years, this digital currency has existed, it has had its share of highs and lows. In addition, since 2013, this digital currency has remained active and also highly accessible. As a result, this digital currency is the most reliable cryptocurrency because it has survived attempted bans from governments, external attacks, and internal disputes over the direction of the protocol.

Besides external and internal attacks, this digital currency has sustained volatility with massive price rises and drops. Therefore, the ability of this digital currency to withstand numerous threats within the short period it has been available has proven that it is a more reliable cryptocurrency than the other altcoins.

Limited Supply

Bitcoin has a hard limit supply whereby only 21 million Bitcoins will ever exist. However, this digital currency halves after miners produce 210,000 Bitcoins every four years. As a result of the scarcity of this electronic currency, the demand for Bitcoin continues to increase. In the end, an increase in demand also contributes to a rise in the value of these digital currencies.

So, unlike other cryptocurrencies, which do not have a limited supply, Bitcoin's scarcity contributes to this digital currency being more valuable than altcoins.

Increased Adoption and Acceptance

Established and huge businesses like Microsoft, Starbucks, McDonald’s, and Amazon have incorporated this digital currency into their payment system. Consequently, there's an increase in the number of businesses that accept Bitcoin payments which translates to an increase in demand.

In the end, the value of this virtual currency will continue to increase as more businesses globally consider incorporating a Bitcoin payment system. Along with that, clients will discover the significant benefits that come when you decide to transact using this virtual currency. Bitcoin transactions are fast, cheap, and less costly. And this has led to an increase in the adoption rate.

Largest Market Base

This digital currency is the world's most popular, leading, and most traded cryptocurrency. In addition, there are more than 10 million Bitcoin wallets worldwide, which shows that many people are investing in this virtual currency. Bitcoin transactions are safe and secure, which attracts people to transact using this digital money.

As a result, this virtual currency's more extensive user base has added to its credibility, therefore attracting more and more investors. Nevertheless, the more people get interested in this virtual asset, the more the demand for Bitcoin increases, increasing the price.

Blockchain

Bitcoin has an inbuilt infrastructure known as the blockchain, a public distributed ledger. Blockchain technology ensures that transactions are transparent and anonymous, and also fast. As a result, blockchain technology contributes to Bitcoin being a more valuable cryptocurrency than altcoins. Through blockchain, other cryptocurrencies like Ethereum have also emerged.

Parting Shot

Currently, Bitcoin has the largest market cap and is the most valuable cryptocurrency in the world. Reliability and increased adoption of this digital currency are among the factors that make it worthwhile.

About The Authors

Kenzo Norman

Kenzo Norman - Kenzo is a journalist-turned-marketer who is fascinated by how storytelling and targeted marketing can result in content that changes businesses. He is responsible for implementing inbound marketing strategies that help his clients raise brand awareness, generate leads, and gain new customers as an Account Executive. Jason enjoys reading on the beach, tracking down mono records, and playing guitar when he is not working.

Recent Articles

  • Hemorrhoids - Definition And Methods To Avoid It

    Hemorrhoids - Definition And Methods To Avoid It

    Hemorrhoids are a serious health problem that must be dealt with. Hemorrhoids can be anywhere from a little uncomfortable to unbearably painful, and they can make every part of your life harder and more embarrassing. They are some of the most common reasons for anorectal problems, so both patients and doctors blame them for almost all anorectal problems.

  • Multiple Sclerosis - A Common Virus May Result In New Therapies

    Multiple Sclerosis - A Common Virus May Result In New Therapies

    Most doctors agree that multiple sclerosis (MS) is an autoimmune disease where the body's immune system attacks healthy tissues by accident. The myelin sheath, which typically shields nerve fibers in the central nervous system, is attacked in MS by the immune system. In this attack, the underlying nerve fibers may also be harmed or killed.

  • Christina Kartchner - The Actress Of Eve In Never Have I Ever

    Christina Kartchner - The Actress Of Eve In Never Have I Ever

    Actress Christina Kartchner is renowned for her work on Never Have I Ever (2021), Open Houses (2017), and CollegeHumor Originals, among other television and film credits (2006).

  • Tourist Attraction - Destinations You Must Visit This 2022

    Tourist Attraction - Destinations You Must Visit This 2022

    The term "tourist attraction" could have a slightly different meaning to each of us individually. Tourist locations attract people because they have cultural relevance, natural beauty, historical significance, or recreational options. Though the pandemic had a significant impact on the hotel business, several establishments exploited the forced downtime to refurbish rooms, add new amenities, and extend outside spaces to provide even more when tourists returned.

  • How College Students Perceive Academic Stress -  Does It Affect Their Mental Health?

    How College Students Perceive Academic Stress - Does It Affect Their Mental Health?

    A Rutgers New Jersey Medical School study found that academic stress hurts the mental health of some groups of college students more than others. This link was made worse by the COVID-19 pandemic.

  • Semen Retention - Overview Of Its Potential Effects On Health

    Semen Retention - Overview Of Its Potential Effects On Health

    Semen retention is just as it sounds. It is the act of not ejaculating. Taoists and tantric sex practitioners have been doing it for ages. You can avoid ejaculating by not having sexual encounters or learning to reach climax without ejaculating.

  • Most Unknown Paradises In The World To Visit In 2022 - Pack Your Bag And Discover Them

    Most Unknown Paradises In The World To Visit In 2022 - Pack Your Bag And Discover Them

    If you think you already know all the amazing places in this world, then wait till you see this list of the most unknown paradises in the world to visit in 2022. Various individuals will have different ideas of what paradise is, but for us, it's a wonderfully magnificent place with a touch of isolation. So, obviously, not all of them are tropical islands; a mountain or a forest could be just as lovely.

  • The Hermit Tarot Card Meaning - Major Arcana

    The Hermit Tarot Card Meaning - Major Arcana

    The Hermit Tarot Card Meaning – In order to thrive, you must be able to connect with others on a deep level. Even so, there will be instances when we must go away from others instead of toward them.

  • Temperance Tarot Card Meaning - Major Arcana

    Temperance Tarot Card Meaning - Major Arcana

    Temperance Tarot Card Meaning - Is it possible for you to maintain a state of equilibrium at all times?