Currently, there are more than 1000 cryptocurrencies in operation around the world. However, Bitcoin is the most popular in the exchange.Created by Satoshu Nakamoto, Bitcoin has a current market capitalization of several hundreds of billions of dollars.
The main reason why most people are attracted to Eptocurrency is that it offers huge profits with low investment.Again, if its value suddenly decreases, there is a possibility of loss.
Eptocurrency? lol.
The main reason that
greedy people are attracted to cryptocurrency is because of the potential huge profit that they perceive. The main reason that people use Bitcoin and stay with it in the long run is because:
- It is censorship resistant, nothing can entirely stop your access to it. Entities such as banks or governments can not ban or block access to it or your holdings.
- It is private (unless privacy is willingly sacrificed by the holder by using identifying services)
- Fees are lower for international transfers in most cases and you aren't charged to have a wallet (like you are when you use a bank)
- The reward for holding for a long period of time is not only historically high, but better than the devaluation that would occur by holding fiat in the long term.
I would call all of the reasons listed above as more valid reasons that because "people want huge profits". Generally those who have entered Bitcoin or cryptocurrency with that mindset have been burned, for better (learnt for next time) or for worse (now call crypto a scam because of their own greed).