Bitcoin has supported its growing acceptance as a ‘complementary currency to the official monetary systems all over the world by mid of November 2017. For example, In Australia, the number of Bitcoins usage is growing continuously so it leads to install more and more Bitcoin Automated Teller Machines (ATM) around the nation due to its popularity as an online currency.
The installation of ATMs around the Australia will provide the opportunity for Bitcoin owners to exchange their virtual currency for cash. This would result from a seamless change of the virtual to real money.
How does it support its growth?
There are so many positive advantages of Bitcoin that attract a growing number of the users to the number one digital currency.
One major drawback is the ability of the users are still kept remaining as anonymous while conducting their transactions.
Once when the users create an account with the Bitcoin system is called as the Blockchain, they can already create any number of the addresses that they can use in their transactions such as selling and buying.
Another attractive advantage of the virtual currency is there is no necessity for a third party or a middle person to complete the particular transactions properly. This can be done easily since the users can transact with each other. while comparing with the bank, it charges the customers in withdrawing and managing their own money, Bitcoin transactions are specifically lower when we compare it with bank fees.
The exceptional performance of the Bitcoins price in the financial market gives an opportunity to the investors for buying and selling them for high profits.
Bitcoins future is quite promising and the other digital currencies in Australia based on the growing number of the Bitcoins ATMs is being established around the nation at a time when bank closure is being reported across the country.
This closure seems like, the increasing number of people are already helping online banking and there is already a significant decline in the use of cash through the customers.
It would be very interesting to see whether the Bitcoin will continue its expansion in Australia and around the world in the upcoming days.