Cryptocurrency has become a mainstream subject at the stance; the popularity and acceptance of these currencies are just immense. However, the utmost superior currency of all is claimed as bitcoin due to ample reasons.
Undeniably, there are other prominent currencies like ethereum, lite coin, and binance, but bitcoin is still on the top of a cryptocurrency. Bitcoin was released at the time of double-dip and economic crash, and the first-ever purchase in the Bitcoin complex was of two pizzas.
After the first-ever purchase, bitcoin acquired the attention of investors and traders. Rather than just being utilized as a payment method, bitcoin was correspondingly transformed into a productive investment asset. There are websites like https://cryptoengine.app/ which can help you in gigantic buck in your bitcoin journey. In contrast to any other possible altcoin, bitcoin is considered the most powerful currency, but why. Here are some of the reasons why bitcoin is superior to any other cryptocurrency.
What Are Altcoins?
Altcoins are defined as cryptocurrency accept bitcoin; you can estimate the potential of bitcoin as tons of new flanged currencies are placed in a singular sort where bitcoin alone is placed in different sorts. The basic concept of bitcoin only inspires these altcoins. However, there are some fancy technologies present in these altcoins.
As established, the promising altcoins are ethereum, lite coin, and since. However, there are 9000 altcoins in the industry. Bitcoin was released in the year 2009, and in a nominal range of time, there is an exceeding extent of competition in the cryptocurrency industry. Regardless of this gigantic competition, bitcoin is claimed as the superior currency; let’s check the reasons on https://bitql.app
Bitcoin Is First of Its Kind!
Before bitcoin, there was no cryptographic cash equipped with some robust technologies. Undeniably there were some digital currency models present in the industry, but none of them was equipped with some features as of bitcoin. Bitcoin is the first-ever cryptographic cash operating on a peer-to-peer network and correspondingly having decentralized characters.
The utmost outplaying feature of bitcoin was its decentralized and anonymity as you are allowed to make transactions in bitcoin without revealing your actual identity, also without the involvement of government authorities. To sum up, bitcoin is the first-ever cryptocurrency cash equipped with some robust technologies, and this is why investors consider bitcoin over any other currency.
Return of Investment
Return of investment is considered as the utmost potential aspect that why bitcoin is claimed superior over any other cryptocurrency. Bitcoin was released in the year 2009 as established, and the value of bitcoin at the instance of its release was zero.
However, bitcoin acquired a store value to behave like a currency, and in just three years of the release, the value of bitcoin inclined to an exceeding extent. In November 2013, bitcoin halted the milestone of $1000; yes, you read it right.
The return of investment rendered by the bitcoin complex is magnificent in contrast to any other currency, as the value of bitcoin skyrocketed in few years of the invention. In 2017, bitcoin somewhere nearby $20000; you can estimate how much profit bitcoin investors and traders have made from bitcoin single-handedly.
Bitcoin is not a fan-favorite currency just due to its price, but there are also several other reasons why bitcoin is superior over these altcoins, and institutional involvement of bitcoin is one of the prominent reasons. There are several multinational companies that have invested a gigantic buck in bitcoin.
The leading public holder of bitcoin is named as micro strategy, and the second leading public holder of bitcoin is named as tesla motors. Tesla motors are correspondingly holding a large number of bitcoin units as tesla has converted its balance sheet worth 1.3 Billion USD. The institutional involvement of bitcoin is much more in contrast to these altcoins.
The market cap of bitcoin is the highest of all time; the fact might amaze you that in 2020 market domination of bitcoin was more than 70%. The market capitalization of bitcoin is more than double of the second leading currency, Ethereum. Before the market crash, the market cap of bitcoin nearly reached the milestone of 1 trillion dollars.
These are some of the reasons why bitcoin is superior to other currencies.