Is Bitcoin a real currency and a real means of payment?

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This is a big debate, but we will try to provide you with some ideas for reflection. To be a widely accepted means of payment, a currency must have the following properties: non-perishable, identifiable, difficult to counterfeit, easy to transport, easy to store, fungible and divisible. Let’s see if Bitcoin has these properties. Not perishable: obviously, yes.Click here to know about gdax.

Identifiable

like banknotes, each Bitcoin has its own number. So yes, well identifiable.

Money users are part of a vast exchange network, and the value of this network is increasing because of the number of people who make it up. To be really useful, it is therefore necessary that Bitcoin is accepted by enough people.If you are wondering about the exchange of Bitcoin, then you can go for gdax. It provides you a faster transaction with low fees.

Difficult to counterfeit

Impossible to counterfeit, but a person with enough computing resources could try to use the same Bitcoin to make several payments.

Easy to transport and store

As long as you have a smartphone or a computer, it is easy to store and transport a large number of Bitcoins.

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In the same way that a gold bar is interchangeable with a gold bar, a Bitcoin is interchangeable with another Bitcoin. It is therefore fungible.

Divisible

A Bitcoin can be subdivided into 100 million units, called satoshis (1 satoshi = 0.00000001 BTC).

At first glance, Bitcoin has all the properties of a currency. But that does not guarantee its success. Indeed, to succeed, a currency must inspire confidence and, above all, be useful. Both are closely related.

To inspire confidence, Bitcoin must intimately convince its users that they can at any time exchange their Bitcoins for goods and services.