Bitcoin, along with all other decentralised peer-to-peer Crypto currencies, has a number of significant advantages going in favour of using it. These range from being free from “political risk” (national currencies) and “counter-party risk” (paper assets held at banks or brokerages) to providing some degree of financial privacy (not anonymity though unless additional measures are implemented), giving its owner back the control they deserve over what’s rightfully theirs.
The pros for using Bitcoin, Litecoin, Dogecoin, or any other P2P Crypto coin are summed up in the list below.
- Bitcoin has value of its own due to steadily increasing worldwide demand
- Bitcoin cannot be shut down due to its structural nature of decentralisation
- Bitcoin cannot be — and never has been — “hacked” due to the secure nature of its underlying cryptographic technologies
- An increasing number of countries are reckognising Bitcoin’s legality and general utility for economic and/or technical development
- Bitcoin has proven legitimate simply by the fact of user adoption by hundreds of millions worldwide
- In a world of high political risk and troubled banks internationally, Bitcoin as a new and wholly independent asset class provides an additional option