If you are interested in investing in currency at all, you have definitely heard of Bitcoin before. In fact, the cryptocurrency has become so widely used that it is widely known by the general public. It has gone from being something only used to make purchases in the corners of the dark web to something that banks are invested in. Before you make your first purchase at one of the Bitcoin ATM locations in Phoenix AZ, you should know these things.
It’s Not Backed By Any Single Government
Bitcoin is recognized by almost every government in the world, but it isn’t specifically controlled by any of them. It is what is known as a decentralized currency. This means you are responsible for the security of your holdings in Bitcoin and are not protected if you are hacked and it is stolen.
It’s Volatile
Bitcoin has surged in value over the last decade but has leveled off. It is still much more volatile than traditional currencies like the US dollar or the Euro. It can be dangerous to trade on a day-to-day basis but Bitcoin is still a strong investment on a long-term basis.
It’s Not Accepted Everywhere
If you want to use Bitcoin as a form of payment, you should know that it’s not accepted everywhere. The impressive increase in businesses that accept Bitcoin as a form of payment does indicate that it will be accepted almost everywhere soon.
Use RockItCoin Today
If you are interested in investing in Bitcoin for the first time, visit the RockItCoin Bitcoin ATM website. The website has a search function that can help you find Bitcoin ATM locations in Phoenix, AZ.
