Why you should Start Investing in Bitcoin?
You are likely to be overwhelmed by all the facts about why Bitcoin is the future. These sometimes silent prompts usually deal with the innovation and transparency of open source technology, which is a fact. We are a group of passionate people, but this sometimes leaves us in the form of “tunnel vision”. If we temporarily zoom in and look at the big picture, Bitcoin, and related innovations can fit into bigger things this way. To be familiar with all about cryptocurrencies click here: de.bitcoin-pro.live
1. The Millennium Tsunami
We often hear people’s outrage about “millennials” on social media, but who are they? Technically speaking, millennials were born between 1981 and 1996 and are currently between 22 and 37 years old. However, it is important for them that they inherit $ 68 trillion from parents with “baby boomers” over the next ten years. The transfer of assets is so large that it is referred to as a “large transfer of assets”. I know be creative. A careful study of the relationship between this generation and their prosperity will show that the average cryptocurrency user is between 25 and 34 years old, and that group accounts for about 40% of Bitcoin users. This age group fully encompasses the entire millennial generation,
2. Penetration rate for African financial services
According to several studies, smartphone penetration is much higher in emerging markets like South Africa than in financial services. This means that more adults can use smartphones than formal financial infrastructures such as banks, bank accounts and ATMs. This is an ongoing upward trend and the penetration rates of smartphones and 4G are expected to increase rapidly worldwide in the next few years. The use of “mobile money” solutions has increased dramatically in various African countries. One of the most successful of these implementations is of course the project carried out in African countries with more than 40 million active users. The following picture shows the grim situation of the spread of financial services in Africa.
Another obstacle, especially in sub-Saharan Africa, is the transfer costs. For those who want to send money to Sub-Saharan Africa, the currently highest 9% of these fees are in this regard. Cryptocurrencies offer a more effective value proposition and transactions are much cheaper and faster. The decentralized implementation of the network also enables multiple applications to be created for smartphones, so that everyone can easily and safely interact with these networks and currencies using one device.
3. The failure of traditional currencies
We can display examples of failed currencies issued by the government (called the “fiat currency”) without delving into the past. The hyperinflation of the Zimbabwean dollar and the subsequent crash. In 2018, Venezuelan Bolívar and Turkish lira lost significant value, and the situation is similar.
On site, it looks like people in the supermarket are fighting each other to pay for their goods before the price of the goods doubles every day. These are often the result of minority policies, and society and future generations bear the consequences.
However, our modern leaders are not unique in their failure. Roman Denarius was the currency of the Roman Empire in 211 BC. Chr., There were 4.5 grams of silver coins. At the end of the circulation, the token contained less than 1% sterling silver on average. This is the result of regular depreciation, namely the addition of cheaper metals that started in the Roman Empire itself.
Even closer to the country than recently, the South African rand lost more than 30% . If you want to retire in the First World country in the next few years, the costs are now going up significantly. In the long term, the well-known “golden boy” in fiat currency will not be spared either. From 1913 to the present day, the US dollar has lost 95% of its purchasing power.
How do we protect ourselves?
From everyone’s perspective, it seems that the whole world is crying out for a better solution. Digital solutions that are transparent, accessible, open source and independent of jurisdictions cannot be downgraded. Regardless of whether Bitcoin and cryptocurrencies ultimately become the solution, we can all agree that the current system doesn’t seem to be suitable for most of us.