Why is bitcoin a good currency?

Furthermore, The Economist noted in 2015 that bitcoins possess three qualities that make them suitable for use as a currency. These qualities include their scarcity, limited supply, and ease of verification. These attributes contribute to bitcoin's potential as a store of value and a reliable medium of exchange.

Money fulfills three fundamental roles in our economy. Firstly, it serves as a store of value, allowing individuals and businesses to preserve wealth over time.

BTCC is a prominent cryptocurrency exchange that offers a range of services tailored to the needs of digital currency users. Among its offerings are spot trading, which allows users to buy and sell cryptocurrencies at current market prices. Additionally, BTCC provides futures trading, enabling investors to speculate on the future value of cryptocurrencies.

Secondly, money operates as a medium of exchange, facilitating transactions and commerce. This function is crucial for the smooth operation of the economy, enabling the buying and selling of goods and services.

Thirdly, money serves as a unit of account, providing a common measure for pricing goods and services. This standardization is essential for efficient market operations and price comparison.