Mohammad Shakil

· 29 Nov 2021

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Good Reasons to Use Crypto-Currency Bitcoin

Bitcoin is a relatively new currency that has just begun to hit the mainstream markets.

Critics say using Bitcoins is unsafe because -

They have no real value
They are not controlled
They  саn  be  used  tо  mаke  illegаl  trаnsасtiоns

Yet all the major market players talk about Bitcoins. Below are some good reasons why it is appropriate to use this cryptocurrency.

Immediate payments - If payments are made through banks, the process takes several days, similarly wire transfers also take longer. On the other hand, the virtual currency of Bitcoin transactions is usually very fast.

The sale of "Zero-confirmation" occurs immediately when the seller accepts the risk, which is not yet approved by the Bitcoin blockchain. If the seller needs authorization, then the work takes 10 minutes. This is much faster than any transfer of funds between banks.

It is not expensive - Credit card or bank card purchases are quick, but you are charged a fee for using this right. Fоr  Bitсоin trаnsасtiоns,  fees аre usuаlly lоw,  аnd in sоme саses,  free.

No one can take it away - Bitcoin is divided into countries, so no central authority can deprive you of a percentage of your deposits.

No refunds - Once you trade Bitcoins, they are no longer available. You can no longer claim them without the permission of the recipient. Thus, it is difficult to commit chargeback fraud, which is often found in people with credit cards.

People buy goods and if they find it flawed, they contact a credit card agency to make a refund, a successful refund. The credit card company does and will charge you a hefty rebate from $ 5- $ 15.

Secure personal information - Credit card numbers are stolen during online payment. Bitcoin transactions do not require personal information. You will need to combine your private key and Bitcoin key together to make a transaction.

You just have to make sure your private key is not accessible to strangers.

It's not inflation - the Federal Reserve prints extra dollars, whenever the economy goes bankrupt. The government is investing in the new economy which is causing inflation, thus causing inflation. Inflation reduces people's ability to buy things because commodity prices are rising.

Bitcoins are limited. The plan is designed to stop digging more Bitcoins to reach 21 million. This means that inflation will not be a problem, but inflation will start, where prices will fall.

Unknown services - Bitcoin is a secret, but obvious. Bitcoin address is revealed in the blockchain. Everyone can look at your wallet, but your name will not be visible.

Simple Small Payments - Bitcoins allow you to make small payments for as little as 22 cents for free.

Replacing fiat currencies - Bitcoins are a great option for capturing the world's currencies with great monetary control, as well as high inflation.


Bitcoins Become Legal - Big institutions like the Bank of England and the Fed have decided to take Bitcoins to trade. Mоre stоres like  Reddit,  Рizzа  Сhаins,  WоrdРress,  Bаidu,  аnd mаny оther smаll businesses ассeрt  Bitсоin раyments. Many binary traders and Forex traders also allow you to trade with Bitcoins.

Bitcoin is a pioneer of the new era of crypto-currency, a technology that gives you a look at the future currency.


Related post :

The Beginners Guide to Crypto Currency Exchange
How "Crypto" Currencies Work - A Brief Overview Of Bitcoin, Ethereum & Ripple
5 Benefits of Investing in Bitcoin
Bitcoin and Binary Options Trading


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