Finances

5 Reasons Why Bitcoin Will Always Be the King of Cryptocurrencies

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Written by Quentin Hack

Not only Bitcoin is the best-known one of all the digital currencies, but it is the one with the highest value. In fact, we can see that there are many experts in this field who like to call it “the father of all cryptos”. Surely, it has a dominant position in its own world. After its introduction, there are a lot of different cryptos who’ve entered the market. 

However, we can see that none of them has been able to reach its status, either in terms of the price or the status. Also, there’s no developer behind a digital currency who doesn’t dream about his creation being able to rival the big boy. While chances of this happening are pretty slim, that doesn’t mean it is impossible to happen in the future. However, we can see that some experts absolutely do not doubt that BTC will always have the top spot among all the digital currencies. 

Not only that, they provide us with a couple of reasons why the situation will remain unchanged. Surely, this is a reason if many people are not unsure about investing in any other one. If you would like to see why you should do exactly that, be sure to take a look at ih.advfv.com. Anyway, we would like to provide you with a couple of reasons why BTC will always be the king of all digital currencies. Let’s get started.

1. It is the First One

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Since we are talking about crypto that was the first one introduced to the public, it should be said that it had the advantage of having a head start. The number of their users has reached a couple of million two years ago, and it looks like there’s no chance for any other to compete with it in this form. Due to the fact that it had way more time than any other digital currency, it makes perfect sense to say that its industry had way more time to mature. So, reaching its maturity is nearly impossible. Now there are around 9 million coins and the market capitalization has reached $100 million. If you know these facts, you understand that the chances for others to reach BTC are pretty slim.

2. The Liquidity

One of the main traits of any kind of market is liquidity. If there’s none of it, you cannot expect that the market in question will be successful and fruitful. When we talk about digital currencies and their own respective markets, it should be said that miners who pay taxes are one of the most important traits of a healthy market. Furthermore, the conversion into fiat currencies is pretty easy and it doesn’t take too much time to complete. There are only a couple of cryptos besides BTC who can say that they’ve reached a proper level of liquidity. However, reaching the BTC’s level is impossible at the moment. Not just that, it’s highly unlikely that they will be able to reach it in the future.

3. The Recognition

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Over the years, Bitcoin has been able to build its brand awareness to the level when we can say that around 20% of people in the world have heard about it. Not only that, we can say that there are a lot of people who mix the concept of BTC with the concept of cryptocurrencies. Even people who haven’t had the opportunity to own or use it have at least heard about it. Also, to find more about any other digital currency, you will need to learn about there’s to know about BTC to have a proper understanding of others. The reason is pretty clear, all cryptos have derived from the blockchain system. Since the information about BTC is the commonest to see by far, it makes sense to start there.

4. The Question of Security

Even though the blockchain provides the highest possible level of security for those digital currencies who have derived from it, it can be said that BTC has the highest level of them all by far. What this exactly means? For example, it should be said that it has more peer review than any other currency. Plus, there are more tests done to it than to any other one. Try to Google how many times there was news about the whole system collapsing due to outside influences. However, we can see that it stands today, alive and well. Not only that, it will continue to function in the best possible way in the future. You can be absolutely sure of that.

5. Store of Value

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Since it was created, BTC has been establishing itself as an alternative asset class to store value. Instead of thinking about it as a currency, maybe it would be better to describe it as some kind of digital precious metal. Plus, the owners of this digital currency have complete control over it, which makes it way more secure for them. We can draw an analogy between coins in your wallet and you have gold pieces in your basement. When you compare it to altcoins, you will see that no matter the price fluctuations over the years, BTC is way more stable than any other altcoin you’ve had the chance to own or use. It should be said that every owner knows how to lock its profit on this exceptional crypto.

The Bottom Line

Certainly, we are talking about the digital currency that’s responsible for the creation of a whole industry. Certainly, this position was cemented with this fact since all those that follow it will take it as a role model. Not only that, we can see there are a plethora of other reasons why BTC will always remain the most important digital currency, no matter what happens in the future. When you look from today’s perspective, there’s no chance that we will see major changes in this case. However, nothing should be taken for granted. But, whatever happens, we are sure that the BTC’s status will remain unchanged.

About the author

Quentin Hack