Why use bitcoins, if you have the dollars, euros or pounds? Why should someone switch to this crypto currency? Good questions! Fortunately, they have ready answers. In this article, we take stock of what is really worth to use bitcoins.
Here are the main reasons why people turn to bitcoin.
1. The ability to have full control over their funds
Bitcoin and other cryptocurrencies offer users far more control over their own money. You eliminate the middlemen between you and your money. In this case there is no Bank that decides how much time it will take the transaction and how much it will cost. You also control where your money is and how you can get them. Of course, the control means and your responsibility.
2. Low cost transactions
Excluding the middleman, you can save by remittances. The transfer bitcoins from wallet costs only a small Commission, which is produced by the miners. Traders also cheaper to accept bitcoins than credit cards.
In addition to saving money on your international transfers, you will also receive a higher transaction rate. If the Bank will take to transfer your money for a few days, bitcoin will do it for a few minutes.
With the bitcoin online payments become easier. You should not transmit any personal data if you want to make a donation or pay that is not subject to delivery. Simply send bitcoins to the recipient.
Entrepreneurs are much safer to accept bitcoin compared to Fiat money. When paying with a credit card fraudsters can later cancel the payment. Bitcoin payments are irreversible, so there is no risk of unfair cancellation.
One of the key advantages of bitcoin is that it provides privacy and relative anonymity. You do not need to provide any personal information to access the wallet. All you need is a device for storing bitcoins or even a simple sheet of paper. Bitcoin transactions are also only tied to your wallet.
The bitcoin blockchain is a peer-to-peer (p2p) payment system. It makes you and the other parties to the transaction. You don’t need a Bank that performs the transaction. By the way, it should be noted that the risk of loss when working with ether is even lower than with bitcoin.
8. The possibility of investing
The price of bitcoin was miserable ten years ago, when he was about to be launched. The coin went up to $20 000 in December 2017. At the time of writing this post the exchange rate of bitcoin is $6347. The main cryptocurrency came to us forever, and it will continue to grow because it take more and more people on the planet. Investing in bitcoin is risky, but at the same time can be very profitable.