What are the reasons why bitcoin is becoming very popular?

[Potuse]

Bitcoin is gaining popularity just because it is a decentralized money and it does not give the third party power over your money . It also give you autonomous power over your spendings and that is why bitcoin has become so popular.

 

[Planbizzle]

Bitcoin allows for remote trading, so anyone with an internet connection can exchange Bitcoin from anywhere in the world. Information can now be safely stored and verified thanks to the blockchain technology that underpins Bitcoin.

 

[Riberet19]

One of the things for which it has become popular is for its large price increases, another is its possibility of moving money decentrally, also its scarcity and innovation in other aspects, apart from easy transactionability.

 

[eenya00]

The idea of decentralization is helping crypto currency to gain wild popularity as the transaction are more secured and faster as well, and Bitcoin is the face of cryptocurrency

 

[Nomad]

There are a couple of reasons why Bitcoin is popular.
1. Bitcoin is the original cryptocurrency
2. Bitcoin is completely decentralized.
3. Bitcoin covers 50 percent of the total crypto market cap.
4. Bitcoin is a payment form as well as digital asset.

 

[Heatman]

I believe that one of the main thing that ensured Bitcoin's popularity is because it is completely decentralized and one of the best cryptocurrency project that you can see out there.

Also it is the first original known cryptocurrency blockchain technology that is known to human being which laid the foundation of every other cryptocurrency that we have today.

 

[Nomad]

I believe that one of the main thing that ensured Bitcoin's popularity is because it is completely decentralized and one of the best cryptocurrency project that you can see out there.

Also it is the first original known cryptocurrency blockchain technology that is known to human being which laid the foundation of every other cryptocurrency that we have today.

Bitcoin is decentralized in the true sense. Even though most of the coins call themselves decentralized coin, they are created and managed by companies, for instance Ethereum despite being decentralized, is controlled by Ethereum Foundation whose chair is Vitalik Butrin.

 

[Timgab]

Bitcoin is the first and most famous cryptocurrency, often referred to as "digital gold". Being so its has adapt to best new and old strategies required for marketing success.

 

[Heatman]

Bitcoin is decentralized in the true sense. Even though most of the coins call themselves decentralized coin, they are created and managed by companies, for instance Ethereum despite being decentralized, is controlled by Ethereum Foundation whose chair is Vitalik Butrin.

Exactly! These companies that manages other coins can decide to mess it up in the future if something goes wrong with their company's business operation. This is the reason why bitcoin is very different because it is not owned by any company. Anything that is happening with other companies can directly affect whatever coin that they own.

 

[Nomad]

On top of that what happens with bitcoin solely determines what will happen with other coins, or altcoins to be precise. While the entire crypto market is $1.36 trillion, bitcoin alone holds a market cap of $681 billion.

 

[Heatman]

This is practically the reason why whenever I am trying to do anything in terms of investing/trading in any cryptocurrency, I will always first evaluate what is going on with bitcoin before I will take any step forward because knowing what happens with bitcoin will give you an insight to what is going to be happening in every other coin.