7 million Americans own bitcoin (BTC), but miss out on its essential function – Cryptocurrencies

Right in the middle of the 19thth century, the gold rush marked the daily lives of Americans. This same daily life is marked these days by the cryptocurrency rush. Today, for example, there are 7 million Americans with at least one bitcoin (BTC). Unfortunately, almost all of them miss the essential function of this cryptocurrency.

More and more Americans are turning to Bitcoin

If the craze for Bitcoin is general, it is clear that it is more important in the United States. It remains an open secret in view of the hyperactivity of Americans in the cryptocurrency universe.

One of the most popular channels for them to acquire bitcoin is through auctions. By way of illustration, theUnited States Marshals Service organizes since 2014 auctions of bitcoins. This year for example, 4040 bitcoins were auctioned. The rush for this treasure was swift. Many have paid the price to get a piece of the pie.

Apart from the auctions, various initiatives have helped to rekindle the enthusiasm generated by the Bitcoin among Americans. In the city of Boston for example, the company LibertyX announced the launch of the largest U.S. network of vending machines from bitcoins. Consumers will be able by this means to obtain much more quickly Bitcoin, in exchange for cash.

Today, the number of Americans owning at least one bitcoin is growing exponentially. That of crypto enthusiasts also believes. Many Americans do not hesitate today to convert part or all of their bank assets into Bitcoin. However, the execution of such an operation must be preceded by precise knowledge of the function of the Bitcoin and its value. While it is one thing to own bitcoin, it is quite another to know how to use it.


Americans love Bitcoin

What is the essential function of Bitcoin ignored by Americans?

Bitcoin is the first decentralized digital currency. Since its creation in 2009 by Satoshi Nakamoto, he has never ceased to emulate. The tangible proof of such a state of affairs is the ever-increasing number of Americans buying Bitcoin. In this regard, the CEO of Kingdom Trust, Ryan Radloff, claimed that 7.1 million Americans had already made the jump to buy Bitcoin.

This increasingly rare virtual currency has the essential function of making online payments without an intermediary. But the enthusiasm aroused around it tends to make people forget this primary vocation. Since Bitcoin has no physical existence, it is not dependent on any central bank.

Today we think of it as digital gold. It is therefore rightly that it can be considered a safe haven. Because, it freed itself from the monetary creation of states. However, the owners of Bitcoin do not depend on any monetary or state institution. Better still, they can make online purchases with their credit with one click.


Today, the world of cryptocurrencies is no longer limited to Bitcoin. Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and several other similar currencies have redefined the configuration. It is therefore urgent that bitcoin owners learn more about this in order to know its essential function.


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