Since the founding of Bitcoin by Satoshi Nakamoto in 2009, it has continued to make waves in this digital era and has contributed to businesses who has utilize its benefit. Bitcoin have an estimated supply of 19,000,000 BTC coins with a live price of $47,852.39 USD. Digital payments have helped to democratize finance and keeps contributing to income and wealth inequality. Bitcoin has been regarded as the currency of the future because there is no doubt that it’s coming to stay. The number of users investing, trading, and making transactions keep surging.
Digital currencies like Bitcoin often make headlines for the massive swings in their value, but beyond the intrigue of skyrocketing and plummeting prices the rising popularity of cryptocurrencies poses serious questions for financial institutions and monetary policy. Bitcoin did not only offer accountability to users it offers transparency as well. Digital currency is impacting different sectors especially property ownership by bridging the finance gaps by increasing financial inclusion.
The future of digital currencies has remained uncertain due to its fluctuation of prices and value which makes it unsuitable for daily transactions. However, it has become crucial to users as an alternative to traditional fiat currency. Users won’t have to be subjected to the complexities of the bank, high transaction fees, or high return rates. Undoubtedly, Bitcoin is definitely an option for low-income individuals and the entire finance sector.
Bitcoin Important to Bridging Finance Gap
Bitcoin boost accountability and transparency in all transactions including property ownership. As a financial asset, bitcoin allows more people to own property in a very transparent manner. Accountability is considered one of issues hindering the underserved from owning a property. However, bitcoin’s blockchain technology has encryptions that ensure transparent ownership and transfer ledger. The ability of bitcoin to give the less fortunate ownership of property is one way of ending poverty. Blockchain technology only requires one to have a smartphone, which is quite plenty in developing countries today. That means even low-income families can quickly sign up with bitcoin to start acquiring property.
While you are wondering how Bitcoin will bridge the finance gap, it starts by offering relatively Lower Transaction Fees. Traditional financial institutions and even credit companies are rapidly adopting blockchain technology. Its main advantage is that it significantly cuts the transaction fees. Bitcoin transactions are dependent on blockchain technology instead of third parties that banks and other lenders typically use. In almost every transaction, they assign an intermediary to oversee the exchange process. Traditional fiat currency has created lots of complexities especially regarding the fees and speed. Bitcoin solves that by ensuring fast, safe, and cheap transactions. People can now own property without a high financial burden.
There are increased financial inclusion as the value of Bitcoin keeps surging. The underserved has always been excluded from opportunities and employment. Bitcoin does not require high technical skills except a digital device like a smartphone and internet access and can be accessed by any individual regardless the financial status. Besides, today, there are plenty of platforms, such as Bitcoin Prime App that the public can join to learn online trading. That supports financial inclusion, ensuring that even the less-educated and unemployed can access capital and trade. The real estate sector is one of the fast digitalized sectors that explores the benefit of digital currency like Bitcoin.
Are you planning to explore the benefit of accepting cryptocurrency as a mode of payment? You can reach out to The Power Is Now Media. Our experienced real estate agents will guide you on the right type of payment to use. Don’t hesitate to reach out to our experts today to discuss different aspect of using digital currencies in property ownership. We can help you to achieve your dream of becoming a homeowner. Contact one of our agents on our website at www.thepowerisnow.com.
About The Power Is Now Media
The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com.
Published by Eric Lawrence Frazier, MBA.
References
https://www.romania-insider.com/press-release-how-bitcoin-will-benefit-the-less-foturnate