That is one of the most common questions among crypto novices or individuals who are newly introduced to the world of crypto. Bitcoin is The first decentralised digital currency that can be transferred from person to person without the help of a third party or intermediary. Bitcoin was created in 2009 by an inventor named Satoshi Nakamoto. Bitcoin is not backed by any asset or entity but just by public interest, this creates a high risk for investors. Bitcoin is a tradable asset that has been increasing in price due to an influx of investors and users. Also, the Bitcoin currency can be used to pay for commodities and assets. Bitcoin has the largest market cap among other cryptocurrencies which is at the value of over a Trillion dollars. Also, the price of Bitcoin is volatile because every user has autonomous power of the Bitcoin asset therefore the sale or purchase would have an effect on the value of Bitcoin on the Trading market.

As of 2008, the world economy was backed by the dollar and when the dollar dropped in value the world economy crashed with it, which led to the invention of Bitcoin. There were various reasons for the creation of bitcoin which are;

• Faster transactions:

There has always been an issue in delay in bank transactions so bitcoin was built to accelerate easy tractions, and because Bitcoin is decentralized and can be transferred from person to person without the hindrance of a third party in this case the Bank.

• Security:

The issues of security have been paramount in the world of finance that is why Bitcoin was created to solve the issue because it is decentralised and not controlled by a central authority it cannot tamper with this gives the user authority and control over every transaction within the blockchain.

• Payment Alternative:

Bitcoin was not Just created to be an asset but also as a means of payment, which means it can be used to make purchases of goods or assets.

My answer to this question is an undeniable yes! due to various reasons which are:

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• Faster Transactions:

Delay in facilitating transactions has been a major problem with the banking sectors around the world, but if a business were to welcome the use of Bitcoin this would help for faster payment of commodities. and in doing so would improve the efficiency and growth of the business.

• Increase in value:

Since the creation of Bitcoin the value has always been on the rise, therefore when a business welcomes it as a means of payment and then stores it in a crypto wallet over time the value of the crypto can increase which would yield profit for the business.

• Safe transactions:

There are a lot of scammers around the world who can make forgery of bank transactions and statements, but this is not possible with cryptocurrency, because every transaction is public and cannot be altered or manipulated.