Bitcoin is basically a cryptocurrency and is also referred to as a digital currency. This simply means that bitcoin is not a physical money in fact it is a virtual money and can be traded at any time anywhere digitally. Through bitcoin you can make purchases digitally as it is actually an online cash method which means you can easily shop online with the help of bitcoin. Though many companies do not accept bitcoins but who do, you can shop their products and services through bitcoin.
Let's check few of the advantages of bitcoins:
1) Bitcoin is 24/7: The biggest advantage of bitcoin is that it is available 24/7 which means you can trade bitcoin at any time no matter what. As it is a digital currency so trading with bitcoin has actually become very popular as many traders find it as the most convenient option.
2) Security: We know how important it is to keep your funds safe as security is the major issue. People are often scared what if the data of their bank accounts may be leaked during deposits and withdrawals or may be during any sort of transactions but with bitcoins you don’t have to provide the bank account details as they are completely safe with you. In fact you are even not required to share your credit or debit card details too because simply your bitcoin will do the work for you. Trade with bitcoin and you yourself can make out a difference.
3) No involvement of third parties: Bitcoin trading is between two parties only that means no banks are involved in such transaction processes. Bitcoins can not be stolen by anyone under any circumstances and even the government can not take a hold of it.
4) Instant transactions: As compared to any other transaction methods, bitcoins don’t take any longer to get the transaction done. Transactions with bitcoins are very quick.
5) Reduced transaction fees: Unlike other transaction methods, bitcoins transaction fees are very low. We know that when you use credit cards and debit cards, you usually end up paying more transaction fees but with bitcoins you really don;t have to worry about it.
6) High Liquidity: As compared to other cryptocurrencies, bitcoins got the higher liquidity.
7) Cannot be tracked: Till the time you don’t let others know your bitcoin wallet address, no one can ever track your bitcoins or without the permission of the bitcoin owner no one would ever get to know how many bitcoins you own. The bitcoin wallet address could be changed even if it has been shared by anyone. Therefore, this seems out to have a lot of privacy.
Bitcoin has captured most of the market and people find it as a very convenient option as it has come with too many benefits.
Let's check few of the advantages of bitcoins:
1) Bitcoin is 24/7: The biggest advantage of bitcoin is that it is available 24/7 which means you can trade bitcoin at any time no matter what. As it is a digital currency so trading with bitcoin has actually become very popular as many traders find it as the most convenient option.
2) Security: We know how important it is to keep your funds safe as security is the major issue. People are often scared what if the data of their bank accounts may be leaked during deposits and withdrawals or may be during any sort of transactions but with bitcoins you don’t have to provide the bank account details as they are completely safe with you. In fact you are even not required to share your credit or debit card details too because simply your bitcoin will do the work for you. Trade with bitcoin and you yourself can make out a difference.
3) No involvement of third parties: Bitcoin trading is between two parties only that means no banks are involved in such transaction processes. Bitcoins can not be stolen by anyone under any circumstances and even the government can not take a hold of it.
4) Instant transactions: As compared to any other transaction methods, bitcoins don’t take any longer to get the transaction done. Transactions with bitcoins are very quick.
5) Reduced transaction fees: Unlike other transaction methods, bitcoins transaction fees are very low. We know that when you use credit cards and debit cards, you usually end up paying more transaction fees but with bitcoins you really don;t have to worry about it.
6) High Liquidity: As compared to other cryptocurrencies, bitcoins got the higher liquidity.
7) Cannot be tracked: Till the time you don’t let others know your bitcoin wallet address, no one can ever track your bitcoins or without the permission of the bitcoin owner no one would ever get to know how many bitcoins you own. The bitcoin wallet address could be changed even if it has been shared by anyone. Therefore, this seems out to have a lot of privacy.
Bitcoin has captured most of the market and people find it as a very convenient option as it has come with too many benefits.
