21st July 2024

Why Bitcoin Investment Platforms Work So Well

Cryptos like bitcoin work because the distributed ledger technology that underpins them works. In fact, it works so well that other industries are also moving towards adopting similar systems. Functions like storing the data required to maintain and update the millions of gadgets that are now hooked up to the Internet of Things. A couple of states in the USA and some countries are already moving towards storing the data needed to issue digital birth certificates and digital IDs in a distributed ledger system. 

Think about the health care system and all those individual patient records that are stored away in private doctor’s offices. What happens when you want to change doctors or are rushed to hospital? It’s a complex process of requesting your records, or starting afresh with new ones. A secure, transparent distributed ledger system would solve all those problems and make critical patient health information available to hospitals and other doctors. Etcetera!

The possible applications for this technology are only just beginning to dawn on us. In a decade or two, it’s probably fair to say that many of the world’s major information systems will be stored on safe, secure, incorruptible distributed ledger systems. 

Facts About Bitcoin, The World’s First Cryptocurrency

Further to this, if you doubted the legitimacy of cryptocurrencies here are a few facts about the mother of them all, bitcoin. In 2012 the value of one bitcoin was $3.38US. In September 2019, the value of that same one bitcoin was $8,660US. That’s a whopping 256,113% increase in its dollar value. Imagine if you had bought even one bitcoin for $3.38 6 years ago and then hung onto it. You’d be $8,656 richer today!

Sure, along the way bitcoin has dropped in value then risen again like a phoenix. It’s been subjected to booms and busts, and periods when investors must have wondered what they’d gotten themselves into. But through it all, bitcoin has kept bouncing back, and each time it bounces back to new heights. This is a trend that industry experts believe will continue to happen, at least for the foreseeable future.

Other solid cryptos have followed similar paths. They may not be quite so lucrative as bitcoin but many of them aren’t as volatile either. They’re earning their investors a solid return and for some investors, their crypto investments have reached the stage where they can now consider retiring and living off the income they’re making from their crypto investments. Remember – this is uncensored, unregulated income that is free from bank and government meddling. 

Yes, you do have to declare it as income and pay tax on it, at least in some countries. But – you have no bank fees, you don’t have to wonder what investments or overnight money markets your bank is putting your hard earned cash into so that they can earn interest on your money. You don’t have limits on how much of your money you can withdraw or transfer at any one time. With cryptocurrencies you control where you invest and how much you invest, and you earn the interest. If you’re ready to begin your cryptocurrency trading and investment adventure, platforms like the Chef Gordon Ramsay bitcoin revolution platform can help.