Will Bitcoin Become Legal In The Future?

Thanks to this cryptocurrency, many people became wealthy. One research even found out that there can be as many as 100,000 millionaires in the world who managed to make their fortune by trading with Bitcoin.

Not only that, but Bitcoin’s network counts as many as 5 million users. But, the future of this cryptocurrency still remains shady. We decided to take a look into this topic and explain for what purposes is Bitcoin used these days, why it became so popular and what are the future predictions for this cryptocurrency. Let’s begin.

Bitcoin is Far Superior To The Competition

The reason why Bitcoin became so popular is that this cryptocurrency has tons of advantages over both regular payment methods and cryptocurrencies. When compared to other cryptocurrencies, Bitcoin is far more valuable, focuses on security more, has a far more stable network, and its value is second-to-none.
As for the advantages over the regular payment methods, Bitcoin provides the users with a certain level of anonymity which makes them safe in the online world, all online transactions are instant, users void all unnecessary fees imposed by banks because these facilities are excluded from every trade, and most importantly – people can make money with Bitcoin.

Why People Use Bitcoin These Days?

As you may have figured out by now, the main use of Bitcoin these days is to make a profit. After traders earn Bitcoin, they visit trading sites to list their assets and make a profit. These days, Bitcoin is valued at around $50,000, which is a mesmerizing number.

Some reputable trading sites even provide the traders with an additional service that allows them to maximize their profits. One of those sites is Immediate Edge. This reputable platform has an advanced AI system that analyzes the market and uses the data to make accurate predictions about Bitcoin’s future fluctuations.

This is a massive advantage for the traders because thanks to Bitcoin’s high volatility rate, its value changes frequently and many people are unsure when is the best time to sell them. The software from the aforementioned platform provides them with information that makes that decision easy.

Apart from using Bitcoin to make a profit, many people use it as a payment method as well. Many local and national companies around the world accept payments with this cryptocurrency. Not only that, but the list also features several global brands such as Expedia, Overstock, Tesla, Shopify, Microsoft, and AT&T.

The Future Predictions

When it comes to Bitcoin’s future, it is really hard to tell whether this cryptocurrency will become legal. One argument states that the popularity of Bitcoin will continue to rise at a drastic rate and a point in which the majority of the world’s population uses Bitcoin will be reached.

In doing so, the people will start to pressure their governments which will have no other option but to legalize it. Pretty soon after that, Bitcoin can even become the universal global payment method.

The other argument contradicts this theory to the maximum. According to the sceptics, Bitcoin will forever be an outlaw currency for one reason only – it cannot be controlled from one centre. Due to the fact that banks will not be able to impose their fees which are the main way through which they profit and governments will have no power over it, they will never resort to legalizing it.

They will, however, invest a lot of money into blacklisting it and making sure that its popularity will not rise to a point of no return.