Pros and Cons of Using Bitcoin in 2020

I am sure in the past 10 years you have just heard of a one-sided story, probably you never knew what the real story like. There are all pros and cons in using bitcoin, but we human being only look at one side of it, we either see the positive side or the negative side of it.

When we use cryptocurrency, we try to look for the positive side of the digital currency but we do not use it, we try to look at the negative side of the bitcoins. We do not want to what is the extension of the positive and the negative of the bitcoins. We tend to look at one of the sides of the bitcoins, here we will give you both the plus and the minus of the bitcoins.

Crypto trading for investment has brought in both the good and bad, that is the positive and the negative of the bitcoin here, we will discuss that here.

Advantages of Using Bitcoin

There are most advantages of using bitcoins, and the advantages are comparatively more than the number of disadvantages of the bitcoins. So, one must know the advantages first and then the drawbacks.

Good Returns

You would think about why to invest in bitcoins when you can already spend on gold or other stocks and investment. It is to get back some great returns from the bitcoins and it is very much unexpected but the reality is that there are other sectors where you can spend but the returns will not be as massive as bitcoins.

Short Time Span

The best thing about bitcoins or the cryptocurrency is that the price is volatile and the price rises quite quickly, as in it does not take much time to rise and fall like other metals like gold or any stock or band. Bitcoins and the result of bitcoin are almost then and their result, it does not take much time to develop anything.

Invest in start-up

The bast thing is that almost every day there is some start-up coming up for something and you can invest on them using your bitcoin and get back the returns as and when they do well. You will get the returns when the company or the start-up makes some profit, you will have to remain patient only. When you find some company is asking support for the initial set up, you must know that the company would soon leave it on the investors after running it well.

Disadvantages of Using Bitcoin

There is no such disadvantage of using bitcoin, what is there is the simple drawback that all of us face at some point of time while using bitcoins or trading bitcoins.

Volatility of bitcoin

Not only the bitcoins, in fact, but all the cryptocurrencies also have a similar problem, the problem of volatility is major but that can’t be treated because it is the nature of the characteristics of the coins. The volatility of bitcoin will remain as long as the coin exists but the uneven point remains same that instead of having a volatility issue, it is being used quite spreading all across the globe. Especially now when there is no money in the economy and people have nothing live on. They are using bitcoins to survive in their daily life.

Poor Connectivity

All that bitcoin needs are a good connection and nothing more, all that is required to be more stable and good for bitcoin trading is the network. Bitcoin trading each second values because the volatility of the coin is such that you may not know and the price would rise and drop in seconds.

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