Why bitcoin is still the best coin?

With Bitcoin popularity going up to ridiculous levels, some investors are concerned about this cryptocurrency future. But worry not, here are the reasons why Bitcoin is currently still the best cryptocurrency on the market.

1/ Relative advantage

In terms of innovation, what exactly is a relative advantage? We can put it as an advancement of a product in comparison to the ones coming before it. The advancements can include the quality-of-live upgrades in usage, economic and social advantages which can be measured in time, benefits in wealth or satisfaction among many others.

2/ Compatibility

Compatibility is an incredible feature integrated into the very core of the Bitcoin concept. This heavily implies that the coin won’t require an adopter to adapt to the innovation to enable its usage to its full potential. This also means that a compatible concept is designed so that it will complements past experiences and any needs of adopters.

Bitcoin is a compatible concept – an adopter only needs a cell phone or a PC with available internet access in order to be able to fully utilize it.

3/ Complexity

Scientific researches has pointed out that concepts that are simpler in nature have a higher chance of accumulating success. But, this doesn’t mean that the concept must have essential elements that are simplistic, but rather that it should be prepped for easy consumer usage and its interactions must be user-friendly. Bitcoin scored on both these requirements.

The basis for the Bitcoin innovation is very complex (Blockchain).

However, consumers that have even basic knowledge of the Internet and are familiar with graphical user interfaces can use Bitcoins without ever breaking a sweat.

4/ Trialability

Trialability is a strange word, isn’t it? Well, it refers to the degree of how easy it is for the targeted audience to experiment with the concept.

At the present, anyone can buy or sell Bitcoin. People came up with digital currency ATMs, where you can buy or sell the virtual currency. Additionally, more and more Bitcoin users are making use of digital currency for direct purchases.

5/ Observability

Observability can be defined as a concept whose benefits are easily observable to non-users. While Bitcoin is definitely a good investment, some of the non-users really find it hard to understand why.

For example, in countries where Bitcoin is illegal, people tend to be less aware of Bitcoin’s advantages in contrast with the people living in countries where Bitcoin is legal.

6/ Competitive Environment

You might already have known of some other cryptocurrencies that are on the rise. For example, Ethereum, Ripple, or Litecoin. While all of them are bringing similar functions to the table, they have differences in terms of many factors: purpose, transaction cost, mining procedure and more.

While other digital currencies are rolling on their way to gain popularity, Bitcoin has been more widely adapted by individual as well as corporal users so they are still here to stay.

Regulations

More and more nations consider regulating Bitcoin. As a result, people will feel safer investing in this coin. This also facilitates to our belief about Bitcoin being the superior investment.

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