Almost everybody with internet access knows about Bitcoin. And, there’s never a shortage of opportunities to invest in Bitcoin. Even mainstream media always has a story that somehow relates to Bitcoin. Essentially, this cryptocurrency is ever-present in the lives of most people. Since its emergence, Bitcoin has never ceased to fascinate investors and people in general. And its popularity continues as the world moves more and more to the digital eco-system. But why is Bitcoin this popular?

Before the emergence of cryptocurrencies, people were trading commodities like oil and stocks. People could trade them in both traditional and digital exchanges. For instance, Oil Profit is a platform that allows people to buy and sell oil online and make profits quickly. You can visit the btq app of this exchange to find out more.

But, things are changing now with more exchanges focusing on cryptocurrencies like Bitcoin. If you visit most crypto exchange platforms, you will notice that Bitcoin is the most prominent cryptocurrency. And this is not without reason. Here are the main reasons why Bitcoin is the leading cryptocurrency.

Head Start

Nobody can deny that Bitcoin was among the first digital currencies ad being a pioneer in this industry gave Bitcoin a head start. Miners generated the first Bitcoin in 2009, and this cryptocurrency remained the only such entity for quite some time. Other cryptocurrencies started appearing about two years later. Unfortunately, thousands of people were already using Bitcoin at that time. What’s more, thousands of people were also mining Bitcoin. Although Bitcoin was worth about , that changed rapidly.

By the time the second cryptocurrency emerged, over eight million Bitcoins were already in circulation. And this gave Bitcoin a market cap of more than 0 million. Up to now, no other cryptocurrency has managed even to come closer to this. Currently, Bitcoin has a market percentage of 50%. As such, Bitcoin comprises half of all digital currencies in circulation.

Mainstream Status and Acceptance

Since it was the first cryptocurrency, Bitcoin serves as a model. Most people associate virtual currencies with Bitcoin. Although there are many other cryptocurrencies, most people don’t know them. Essentially, Bitcoin comes to the minds of most people whenever they think about cryptocurrencies.

What’s more, Bitcoin has received a mainstream approach from most institutions and individuals. And this explains why it’s considered a legitimate payment method in some real-world stores and online shops. High-profile business people and techie also support Bitcoin.

By speaking highly of Bitcoin, these entities encourage more people to accept and use it. Thus, Bitcoin’s recognition by famous individuals and businesses has made it popular globally.

New Record

Bitcoin’s value hit a new record in 2020. Towards the end of this year, Bitcoin’s value was almost ,000. And this had happed in 2017. Throughout 2020, Bitcoin maintained a steady and somewhat favorable record, ranging from ,000 to ,000. But this value started rising from November. By the end of 2020, Bitcoin value was at ,990.

By January 2021, Bitcoin’s value was ,675.80. Essentially, Bitcoin value is rising despite the ups and downs this cryptocurrency has gone through. Some experts predict that the value of this cryptocurrency will keep growing as its demand increases.

Bright Future

As the world edge towards a digital eco-system, people will look for ways to do more online. Bitcoin provides a way to transact and store value digitally. As such, more people are likely to start using it for more transactions. Thus, Bitcoin has a bright future ahead.

Final Thoughts

Bitcoin is the leading cryptocurrency, and it will continue to lead. That’s because it’s a pioneer in the cryptocurrency world, and it’s what most people think about when talking about digital currencies. What’s more, Bitcoin has a larger market cap compared to the other cryptocurrencies.

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