Purposes for Selecting Bitcoin Over Other Ongoing Cryptocurrencies!

With thousands of cryptocurrencies to choose from these days, it can be tough deciding which ones are worth investing in. Bitcoin remains the most popular and valuable crypto by far, but its dominance has slipped as new contenders like Ethereum have emerged.

Still, there are compelling reasons why Bitcoin may be the best cryptocurrency to choose, especially for beginners or those looking for a “blue chip” crypto investment. Also, using a reliable and efficient platform in bitcoin trading is not complicated at all, if you want to start trading then you may click for more info.

In this post, I’ll break down the key advantages of Bitcoin over other cryptocurrencies and explain why it remains the go-to crypto for so many people. While the landscape is constantly changing, Bitcoin delivers unique benefits that make it hard to beat for investors, merchants, and anyone just getting started in crypto.

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Scarcity Gives Bitcoin Value

One of Bitcoin’s most appealing qualities is its scarcity. There will only ever be 21 million BTC in circulation, and about 19 million have already been mined. This hard cap makes bitcoin more scarce than precious metals and gives investors confidence due to limited supply.

No other major cryptocurrency has a fixed limit like bitcoin does. The supply of ether, the native token of Ethereum, is not capped. Ripple created 100 billion XRP tokens of which only about 48 billion are in circulation.

With its verifiably scarce supply, bitcoin is more like gold than traditional fiat currencies which can be printed endlessly. This trait bolsters bitcoin’s appeal as “digital gold” and a hedge against inflation.

Bitcoin is Decentralized and Censorship-Resistant

Bitcoin was the first decentralized cryptocurrency and remains the most decentralized major crypto to this day. Its network is secured by tens of thousands of nodes spread across the globe, while most other cryptos rely on just a few dozen to a few hundred nodes.

This high degree of decentralization makes bitcoin much harder to censor or shut down than other cryptos. There is no central point of failure. As long as some bitcoin nodes remain active, the network survives. This antifragile architecture is why bitcoin excels as a censorship-resistant asset.

Bitcoin transactions cannot be easily blocked and bitcoin wallets cannot be frozen by third parties. Compare this to centralized exchanges, which can delist assets or block user accounts at will. For true monetary sovereignty and resistance to censorship, bitcoin has no equal among cryptocurrencies.

Bitcoin’s ‘Lindy Effect’ Makes it Stronger Over Time

Time to Take Bitcoin Seriously

The Lindy effect is a theory that the longer something survives, the longer it is likely to remain in existence. Each additional period of survival implies a longer remaining life expectancy.

As the first and by far most established cryptocurrency, bitcoin enjoys significant Lindy effects. It has survived over a decade of attacks, setbacks, bear markets, and other challenges. Today, bitcoin is stronger than ever with a more secure network, robust infrastructure, institutional adoption, and other signs of maturity.

Each passing year sees bitcoin more deeply entrenched in the global financial system. Its growing network effects and proven resilience make it more likely to stay dominant as other cryptocurrencies come and go.

Seamless International Transactions

Bitcoin Transactions Be Tracked and Traced

One of bitcoin’s original promises was enabling seamless cross-border payments. This benefit has become even more clear as crypto adoption has spread worldwide.

Sending bitcoin across borders is as easy as sending an email. There are no lengthy bank delays or costly fees associated with international transfers. And recipients get full, sovereign control over the funds instead of relying on banks.

Bitcoin facilitates transactions between individuals across geographic borders without censorship. Pseudonymous wallet addresses can be used by anyone with an internet connection. These qualities make bitcoin an appealing financial lifeline for those subject to capital controls or sanctions preventing international money transfers.

No other cryptocurrency can match the proven track record bitcoin has with cross-border payments, especially substantial sums.

An Established Store-of-Value

As a first-mover in the crypto space, bitcoin enjoys substantial network effects and liquidity which reinforce its market position. The longer bitcoin remains dominant, the more likely it becomes that users hold BTC over other crypto assets.

Investors want assets that maintain long-term purchasing power. Over its 13 year history, bitcoin has cultivated a reputation as the “digital gold” standard for value storage in the crypto markets. Despite volatility, it’s track record of gains over the long-term makes BTC an appealing store of value.

Newer cryptocurrencies may outperform BTC in the short to mid-term. But bitcoin has proven far better at retaining and growing capital over prolonged periods. As crypto matures as an asset class, expect bitcoin to continue providing the crypto market’s premier wealth preservation and transfer qualities.

Bitcoin Offers a Mature Crypto Infrastructure

From exchanges to brokers, wallets to lending services, bitcoin boasts by far the most developed ecosystem of products and services. This maturity makes using BTC more convenient and secure.

Exchanges like Coinbase offer simple on-ramps with fiat credit cards deposits. Custodial wallets like BlockFi provide earning interest options. Payment apps like BitPay facilitate retail BTC transactions. Hardware wallets like Ledger provide safe offline storage.

While alternatives now exist for other crypto’s, they tend to be far less convenient or secure. Bitcoin’s longer history and larger user base means an unmatched infrastructure for holders. This contributes to a better overall user experience compared to other cryptos.

Network Effects – Bitcoin Usage Fuels More Usage

A key asset of bitcoin’s dominance is strengthening network effects. The more entities use bitcoin, the more valuable and preferred it becomes. How does this work?

Growing vendor adoption increases the utility of holding BTC. More nodes means greater network security. HODLer accumulation reduces available supply. Institutional participation boosts market legitimacy. Increasing liquidity makes large transactions easier. Rising developer resources improves ecosystem innovation.

Each of these network effects and more make Bitcoin stronger, which in turn attracts more users, in a self-reinforcing cycle. Other cryptocurrencies may replicat these network effects, but they have a lot more catching up to do compared to the market leader bitcoin.


While nothing is guaranteed, Bitcoin remains tough to beat for those looking to hold crypto assets long-term. As the first and most established cryptocurrency, BTC benefits from Lindy effects that reward longevity. The limited supply and decentralized nature underpin a censorship-resistant asset with verifiable scarcity.

Seamless international transactions, a proven track record as a store of value, and an expanding ecosystem for secure storage and usage also bolster bitcoin’s appeal. And strengthening network effects entrench bitcoin’s dominance even further as more entities begin to regularly use and own BTC.

For all these reasons, bitcoin is likely to continue as the “blue chip” cryptocurrency and gold standard long into the future. The crypto space is fiercely competitive however, so bitcoin resting on its laurels would be foolish. But by carefully cultivating the qualities of sound money, bitcoin puts itself in the best position to remain the premier cryptocurrency for overall utility, security, and value storage.

Frequently Asked Questions

What are the main benefits Bitcoin offers over other cryptocurrencies?

The main benefits are scarcity due to its hard supply cap, censorship resistance from decentralization, Lindy effects that reward longevity, cross-border payment utility, established store-of-value status, and strengthening network effects.

How is Bitcoin more scarce than other cryptocurrencies?

Bitcoin has a fixed supply of 21 million coins. About 19 million have already been mined. No other major crypto has a hard supply cap like bitcoin does.

Why does censorship-resistance matter?

Censorship resistance matters because it gives holders full sovereign control over their money. Since bitcoin is decentralized, transactions can’t be easily blocked and funds can’t be frozen by third parties.

What does Bitcoin’s maturity and longevity add?

The Lindy effect means the longer something survives, the longer it’s likely to be around. Bitcoin’s decade plus existence makes it more entrenched and secure over time.

How does Bitcoin have stronger network effects than other cryptocurrencies?

More usage of BTC increases its utility and security. Institutional adoption improves legitimacy. Rising liquidity enables bigger transactions. All these network effects make Bitcoin even better, attracting more users.

Doesn’t volatility negate Bitcoin’s ability to store value?

Volatility does not preclude Bitcoin’s long-term increase in purchasing power. Despite crashes, BTC value trends upward over prolonged periods, making it an appealing long-term store of value like digital gold.

Aren’t altcoins faster with more advanced features?

Some altcoins have more features or faster transactions. But they tend to be much less decentralized and secure than Bitcoin. Additionally, Bitcoin Layer 2 and sidechain solutions are now enabling faster and cheaper BTC payments.

Why is Bitcoin ecosystem infrastructure so important?

Better infrastructure improves the overall user experience. Bitcoin has far more sophisticated exchange, banking, lending, wallet, and merchant services compared to other crypto assets.

Aren’t altcoins cheaper to transact on?

Yes some altcoins currently have lower fees or faster block times. But Bitcoin network fees are not that high compared to legacy finance. And the Lightning Network and Layer 2 solutions continue to expand low-cost bitcoin transaction capabilities.

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