Finance Monthly September 2019 Edition

46 www.finance-monthly.com FINANCIAL INNOVATION & FINTECH - CRYPTOCURRENCIES Why Bitcoin is so much-in-demand? • Low supply There are only 21 million Bitcoins that will ever exist in total, and 17,8 million have already been mined. Due to the human factor, people lose access to the crypto wallets reducing the amount of Bitcoin in circulation. About 4 million coins are more likely to be lost forever. Demand will increase to own at least a fraction of Bitcoin pushing the value up and the maximum supply will more likely decrease. • High usability and industry standard Bitcoin is available and commercially adopted pretty much everywhere in the world. Bitcoin ATMs, retailers, and various businesses accepting Bitcoin as a payment amount more than 15 thousand venues as of today that is 1,000% rise in comparison with 1,270 venues in December 2013. By industry standard, it is entailed the fact that any crypto-related project, app, or business will first start working with/accepting Bitcoin and only then add other altcoins. • Ability to profit on the hot investment Let’s keep it real, cryptocurrencies are volatile and by buying/selling them at the right moment investors can capitalize greatly on it. Why Bitcoin? With the dominance of 66.2%, Bitcoin is a settler of crypto market direction. So why bet on altcoins if Bitcoin is 100% win. Created in 2009, Bitcoin is the first peer-to-peer digital currency, which the world has ever seen. Being a father of cryptocurrencies, Bitcoin has the first-mover advantage, it can’t lose. Regardless of 2,000 altcoins available on the market, investors do not stop to purchase Bitcoin, keeping it at the top of the list. The cryptocurrency market is seeing great growth in terms of price and public adoption rate. By now, cryptocurrencies acquired an army of investors and true believers. It is worthy of note that regardless of the market conditions, the top 3 cryptocurrencies remain the unchangeable leaders. What makes Bitcoin, Ethereum and XRP so valuable? - THE TOP 3 - CRYPTOCURRENCIES: WHAT MAKES THEM A SUCCESS?