Every so often, a new technology appears that changes the way we as a society operate. From the wheel to the internet, the introduction of new technology brings about massive change and has an enormous impact on our future. Perhaps the most significant invention over the last decade is that of Blockchain technology and Bitcoin. Both are paving the way to financial freedom for the masses, and are changing the way we think about money & finance.
THE INTERNET CHANGED LIFE AS WE KNEW IT
If we’re talking about technologies that have had a major impact on our daily lives, we need look no further than the internet. It revolutionised the way we operate, communicate & share information. Before the Internet, if you wanted to keep up with the news, you would have to walk down to your local corner store and buy a newspaper that reported on the previous day’s events. But now, in just a click of a button you have access to news sources from anywhere around the world, updated instantaneously.
But, did you know that a lot of people believed that the Internet was just a phase?
FROM DOLLARS TO BITCOIN
Similar to the early stages of the Internet, cryptocurrency has received it’s fair share of skepticism. But while traditional fiat money like the US dollar is losing its value due to inflation, Bitcoin continues to be the best performing asset of the decade. It seems inevitable that Bitcoin will follow in the footsteps of the Internet, to become widely adopted worldwide.
CRYPTO IS THE FUTURE
Unlike cash and credit/debit cards, cryptocurrencies are fully digital, meaning that they are only available in digital or electronic form. In an era where everything is moving to digital (businesses, communications, purchases etc), it only makes sense that money should move in this direction as well.
But why Bitcoin over, say, a centralised digital currency? Well, for exactly that reason. Bitcoin and cryptocurrencies are a decentralised form of value, meaning they are not at the control of a single individual or institution. There is no need for a middleman such as a bank or government, making it a completely peer-to-peer electronic cash system. It’s decentralised nature makes it globally inclusive, enabling millions of people around the world to take control of their financial future. You don’t have to rely on a third party service to give you access to your funds, and there is no entity that can lock you out or limit what you can do.
INFLATION NO MORE
One of the biggest issues we face with the current financial system is inflation. Fiat money can and is printed without end, which leads to its value and purchasing power decreasing, as there is then a larger supply of it. In contrast, Bitcoin has a hard-coded maximum supply of 21 million Bitcoins; once 21 million Bitcoins exist, no new ones will ever be created. The amount of Bitcoins created is set to decrease roughly every four years in an event known as the Bitcoin Halving. When this occurs, the newly generated Bitcoin is reduced by 50%, making it incredibly scarce. As currencies work through supply and demand, the decreased supply of Bitcoin is more likely to increase its value as the demand grows.
KEEPING YOUR FUTURE SECURE
With cryptocurrency, you can own your hard-earned money rather than leaving it to the mercy of a financial institution. And here at Coinstop, we want to help you secure your future! That’s why we stock the very best in digital security. From hardware wallets to recovery seed phrase storage devices, our products will help you to become your own bank. Cryptocurrency is the future, and it’s time to start securing yours!