April 18, 2024

Bitcoin Pros and Cons By Daniel W.

7/5/2023

Bitcoin is a digital form of currency that was started in 2009. Aimed to eliminate the need for banks and government ran agencies, this cryptocurrency has been the world’s most valuable for almost the last two decades. 

Some pros of Bitcoin include privacy, very fast transaction speeds, and it’s on the stock market, so you can make money even without mining it. People don’t have to worry about people stealing their personal and credit card information when they use Bitcoin and fast transaction speeds allow you to spend your time doing other stuff instead of waiting in line in a bank. Finally, even if you don’t have the tools to mine Bitcoin, you can still buy it on the stock market, making it an even better source of money for you. 

However, there are some downsides to its value on the stock market. Bitcoin is majorly influenced and can fluctuate very dramatically sometimes, leading to major crashes on the stock market, causing you to lose lots of money. 

Overall, using Bitcoin is your own decision. While there are many pros and many cons, you should do lots of research in your free time before risking your entire bank account trying to make money off of Bitcoin.