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.
People are attracted to Bitcoin for several reasons. The main reason for you to be attracted to Bitcoin may not be the main reason for me. Some of the reasons people are attracted to Bitcoin include
- Freedom from government and oppression
- Hedge against inflation
- Ease of doing international business (Cross order payment)
- Lower fees and lightning speed transactions
- Control of ones funds
- Generational wealth
- FOMO ...they do not want to miss out
It varies from person to person and country to country.
Among the list I think it is the control of ones funds, generational wealth, cross boarder transaction and hedge against inflation that I can agree with why people are attracted to Bitcoin. Citizen will never have a freedom from the government oppression if they don't overthrow the government control over them. Besides Bitcoin never give us that freedom because even Bitcoin is being oppressed by the government regulation restricting it of its full function. The only freedom we can have in Bitcoin is moving or transferring fund since it does not require any financial institution to get processed.
In terms of lower fees, Bitcoin sometimes got crazy and its fee surge more than the traditional processing fee, though in terms of huge amount transfer, Bitcoin really has lower fees but only a few can do that since majority of Bitcoin users only transact with miniscule amount. In terms of transaction confirmation speed, there are other altcoin that is far superior than Bitcoin.