While we certainly have no shortage of cryptos in the world, most people would agree that Bitcoin is the most popular of the tokens. Even those who don’t know much about the industry are aware of Bitcoin in some capacity. Many new tokens have entered and exited the market over the years but none has been able to displace Bitcoin as the most popular.
We are only a few weeks into 2024 but Bitcoin is already at the forefront of crypto media reporting. But why is Bitcoin the most well-known token even in 2024 when there are dozens of new pre-sale coins hitting the market every day?
- It was the first
One of the reasons why Bitcoin has retained its popularity is because it is the first cryptocurrency to be created, all the way back in 2009. Digital currencies had existed as a concept before Bitcoin but it was the first to be based on blockchain technology. This gained it a lot of media attention and fascination from the public that has lasted to this day.
For all intents and purposes, Bitcoin introduced the world to cryptocurrency as a whole and so, it remains the most common reference point for the asset class. As it has been around for so long, people are more trusting of it than newer coins. That’s not to say investing in pre-sale coins early isn’t worth it – it just requires more research into the coin’s purpose and the reputation of the team behind it. With Bitcoin, these are already proven.
- Its use Cases
Another reason why Bitcoin has remained popular is because it has a plethora of use cases. Bitcoin can be invested in to make a profit and was even declared one of the best-performing assets of the 2010s. It can also be used as a hedge against inflation, which has led some people to save their money as Bitcoin.
Of course, it also works as a currency to make payments. It can also be used for things like gambling, with several crypto casinos accepting Bitcoin for gambling. Apart from gambling, Bitcoin can even be used to make real estate purchases, with Spain being one of the leading countries for Bitcoin real estate. In fact, Costa del Sol alone has almost 43,000 properties available for purchase with crypto.
Functioning as both a currency and an asset has kept Bitcoin popular among users; many other cryptocurrencies are not widely accepted.
- It is the most valuable
Bitcoin’s popularity in 2024 can also be put down to the fact that it is the most valuable crypto in the world, with one token going for tens of thousands of dollars. Its closest competitor Ethereum goes for under $2,000 per unit as of this article, making Bitcoin the top token by far. This means that Bitcoin sees the most investment of any crypto and this also makes it the most fascinating.
Even those who don’t care about crypto can’t help but wonder why a digital currency is worth so much money and this has kept it relevant.
- It is the most accepted
Bitcoin is by far the most accepted crypto on the planet for purchasing goods and services. In the last decade, a number of merchants have begun accepting cryptocurrency and Bitcoin is the one most favoured. From Microsoft to AT&T, there is no shortage of merchants that will take cryptocurrency, especially Bitcoin.
When it comes to crypto casinos, some will only accept Bitcoin. This ease of spending and popularity among merchants means that Bitcoin is constantly at the forefront of consumers’ minds more than others. And as long as this continues, Bitcoin will be the most popular crypto in 2024 and beyond.
