We know that interest in cryptocurrencies, and indeed Scotland’s cryptocurrency Scotcoin, has grown over recent years. It is also clear that many of those people who are interested in Scotcoin don’t fully understand the financial benefits of buying it now. In this blog, we will go over some the top economic reasons for purchasing Scotcoin today.
1 – Scotcoin Value is Stabilising
Over the last year, we have seen the price of Scotcoin fluctuate, but still steadily increasing its value in relation to Bitcoin. This rise has seen Scotcoin value rising from roughly 0.15 of a Bitcoin per million with an increase of nearly 25 times to 3.5BTC per million; and against the value of US Dollar and British GBP the rise has been even greater with a growth of nearly 35 times to its present value of USD 2200 and GBP 1750 to a million Scotcoin. The rise has seen Scotcoin gain credibility as a financial instrument, which allows for a greater trust in the longevity and integrity of the currency. As the pound sterling has fallen in the wake of the Brexit vote, Scotcoin has gained friends and value too.
2 – Unstable Global Economy
All around the world, we have seen an ever more unstable economic climate, but during this uncertainty, cryptocurrencies like Scotcoin have been stable, or increasing in value, as their value is not directed correlated with the stock markets. In 2008, this instability led to an economic collapse due to debt levels being too high and unsustainable. Since the collapse, the levels of debt have continued to increase, and over the next few decades, we may see another collapse, which would see many of your traditional investments decrease in value. This collapse would not affect Scotcoin, and in fact, the worse traditional economies get the better it is for cryptocurrencies. That is why it makes smart economic sense to invest in Scotcoin as part of your investment portfolio.
3 – The Number of Scotcoin is limited
We know that there will only ever be one billion Scotcoin in existencefor people to purchase. This is a fixed amount and won’t change, so as we see the use of Scotcoin grow as it becomes increasingly accepted, so it is simple economics to expect the value to rise accordingly.
4 – Strong Growth over the Year
If we take a look at the value of Scotcoin over the last year we can see that the value has grown strongly, although with a volatile last few months. This volatility has led to a decline in price, however, this decline can be attributed to a pause as market participants wait for the next big rise in value.
5 – Looking for an alternative to Cash
In many Western countries around the world, we have seen an increasing desire to do away with cash in favour of digital payment methods. This is good for Crypto Currencies like Scotcoin as payments through the present system lack the privacy that cash offers. Crypto Currencies , on the other hand,are digital cash and offer the privacy that consumers desire and can’t get from usual payment methods. So, with the trend that cash will increasingly be sought to be done away with, we will see an increased demand for Crypto Currencies which can only lead to the value of Crypto Currencies like Scotcoin increasing.