The modern world seems to have evolved at a dizzying pace and this has led to some truly astounding developments in the last twenty years. One of the most eye-catching for those around Maryland has been the emergence of cryptocurrency. This digital currency seemed like something from a sci-fi film when first launched but is now much more widely accepted.
Although there are a lot of coins people in Morningside could trade or invest in, Bitcoin is usually accepted as the top one. But how did this happen?
Bitcoin most widely accepted for payments
Bitcoin is top dog in the crypto world because it is the coin most widely accepted to pay for things. As a result, it has a much greater presence in public life, is a coin more people are familiar with and is a crypto coin that has a practical use. But what type of things can you pay for with the currency?
Bitcoin casino sites are becoming more popular and players use this form of money to fund their casino account. For those who already play this way, VIPCoin Casino is a popular iGaming site to use. It not only offers lots of games to try but superb customer support as well. With other things like cars, food, coffee and event tickets also being available to buy with Bitcoin, it is becoming ever more central to our lives.
History and size on its side
In the same way as you should know how to add money into a trading account with IMPS/NEFT before trying to do it, you will want to know more about a coin before investing in it. Bitcoin scores well here because it simply has more history behind it than other coins. This gives it an added air of authenticity and people trust it more.
With a market value of around $811bn currently, it is also the biggest coin in terms of market cap. This not only naturally positions it as the top coin around but also means BTC is a liquid market with plenty of trading opportunities, when compared to other coins.
Media attention helped Bitcoin claim top spot
You also must factor in the media attention this coin received in the past and still gets to this day. In short, Bitcoin gets the lion’s share of attention when crypto is reported online, on TV or in print media. This allowed it to grow into the most well-known digital currency around and to be the one people most associate with crypto. When you also factor in positive coverage of Bitcoin’s historical price history and current reports of any big price jumps, it is easy to see how crucial the role of the media has been.
BTC being top coin is no shock
If you look at the top of the cryptocurrency tree, you will see Bitcoin perched firmly in place. This has always been the case and there is no reason to believe this will change. Although new coins come and go, BTC always manages to be THE coin when it comes to crypto.