- 4 reasons why Bitcoin (BTC) is the most popular cryptocurrency on the market
Just now·3 min read
Since its launch in 2009, Bitcoin (BTC) has remained the undisputed leader in the cryptocurrency ecosystem, maintaining its position as the most dominant digital currency in the market.
The so-called “altcoins” have sought to outdo BTC by offering benefits and improvements, among which we can find Ethereum (ETH), Solana (SOL), and many others, but they have not yet moved the mother of all cryptocurrencies on the market.
If you want to know why Bitcoin is the King, here are four reasons why Bitcoin (BTC) is the most popular cryptocurrency in the crypto ecosystem.
1. Bitcoin has high awareness rates
In the market, some cryptocurrencies have an architecture that allows them to work better for certain use cases. For example, Monero (XMR) emphasizes full privacy, Ethereum (ETH) for its powerful language for smart contracts, and Bitcoin Cash (BCH) and Litecoin (LTC) for providing very low-cost transactions to use as a medium of exchange.
However, no “altcoin” is better known today than Bitcoin (BTC). Its name is familiar even to those who are foreign or new to the world of crypto.
This is happening, in part, through exposure gained in media around the world, on multiple occasions, and in various formats.
2. Bitcoin was the first cryptocurrency
Bitcoin (BTC) was created in early 2009 after the publication of a white paper titled “Bitcoin: a peer-to-peer electronic cash system”.
In it, the creator of the crypto currency “Satoshi Nakamoto” described how it works and laid the foundations for what we now call “blockchain” or “Distributed Ledger Technology” DLT for its acronym. (White paper can be found on the Encryptoza website.)
Before Bitcoin (BTC), there was no other functional decentralized digital currency; even so far none have gained more followers; in part because of the advance in this market.
Its historical recognition and unique concept becomes a compelling reason for its popularity.
3. BTC has high availability
While Bitcoin (BTC) is not the only cryptocurrency supported by trading portals, it is the most widely integrated with exchanges, payment gateways, person-to-person markets, among other platforms.
Likewise, within brokers, this is the one that usually offers the most pairs with other currencies due to the disposition of holders as they typically sell most “altcoins” for Bitcoins.
This tendency to be available in most retail outlets gives it an advantage, both in terms of presence and in terms of the variety of options available to the user.
4. The high liquidity of its markets
The aforementioned reasons make Bitcoin (BTC) one of the most liquid assets in the crypto market, which brings advantages in terms of internal fees and attractive rates due to competition between trading platforms.
In addition, this superior liquidity that any “altcoin” could boast of, reinforces the positive image of this currency and the availability of infrastructure and applications to work with it.
If you want to learn more about Bitcoin and the great investment opportunities it offers you in the cryptocurrency market, we have all the information you need on the Encryptoza platform.
Sign up for our Free Basic Cryptocurrency Course to learn from the Encryptoza experts on the basics of Crypto and Blockchain!
- Date of publication:
- Sun, 01/09/2022 - 23:48
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