In Short, Why is Bitcoin Valuable

Key Takeaways

Why Is Bitcoin Valuable?

It seems you can't turn a corner these days without hearing about Bitcoin. It's everywhere. And yet, at the same time, it's nowhere. To really understand Bitcoin, you need to understand money. Money is anything that people exchange for time like when you get a paycheck, or for products and services. Long ago, money meant things like shells, salt and gold. Today, stocks, bonds and even art can be considered types of money too, though you wouldn't want to make change from a famous painting. And then there's paper money, though most of the time it's not even paper, it's computer code on your phone. That's where Bitcoin comes in. A lot of people say it's the best form of money we've ever had. Why? Bitcoin is also computer code, but just like the internet, it's decentralized. No government, big company, or individual person controls it, which means that the code and the code alone determines the number of Bitcoins that will ever be made. Twenty-one million to be exact; that's it. So, unlike dollars, you can't keep printing them, which makes Bitcoin scarce. Plus, it's electronic, so it can be sent and received anywhere in the world without middle men and their fees. And because it's protected by cryptography, the same technology used to protect transactions for decades, people are increasingly using it as a store of wealth. Of all the digital assets out there, Bitcoin is the most mature. It's also the largest, and most widely held. Now that people know that Bitcoin is actually money, you'll start to see it used for everything, from savings to rewards and loans. You'll even see people getting paid in Bitcoin. We are excited to help you make Bitcoin a part of your financial toolkit. Welcome to Bitcoin.

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