Bitcoin is a digital currency that allows people to transfer money fast with very low fees. This happens without requiring the services of a thirty party or middlemen. Because it’s based on cryptography and mathematics, Bitcoin is safe to use. It functions without rules and restrictions from the authority. This protects your money from inflation. If you haven’t used Bitcoin yet, buy bitcoins from bitcoin dealers. Here’s why you should use Bitcoin.
Quick Worldwide Payment Transfers
With Bitcoins, it is possible for you to transfer money in many parts of the world in just seconds. With normal currencies, you cannot enjoy this benefit they are not scalable. Bitcoin is up round-the-clock, which means that you can make Bitcoin transactions anytime you want and wherever you are. Making internal payments through banks can take many days. Also, some countries cannot do this transaction.
Very Low Fees
Transfering money with Bitcoin is quite cheap because of very low transaction fees. In fact, such fees are voluntary, though you may have to wait for some time when you choose not to pay a fee. With Bitcoin transactions, you have the power to decide the transaction fee. Banks have fixed costs that you must pay to complete your transactions. In fact, you are also obliged to pay annual fees and hidden fees with other banking services. These are things you don’t have to worry about with Bitcoin. Plus, creating a Bitcoin wallet is a no-brainer.
The Bitcoin Network is decentralised like the internet. Thus, no one can manipulate it. With conventional currencies, the central bank controls the interest rates and can print lots of money. Because of being decentralised, a consensus is required to make changes to the network. Taking money from others cannot be possible as the network will not allow such transactions.
Instead of being protected by laws and regulations that can involve human errors, Bitcoin is protected by thousands of computers around the world. The Bitcoin Network has a ledger that has all the transactions. This can be downloaded for verification. Because no group controls the currency, hackers cannot attack the Network.
No Third Party Involvement
With credit cards and services such as Paypal, the decision is made by the company. They can deny a transaction or control money withdrawal. But Bitcoin doesn’t need this kind of arrangement because you decide on your own. With this cryptocurrency, you own your money.