Bitcoin is a relatively new type of currency that has just begun to attack the mainstream market.
The state of critics that uses Bitcoin is not safe because –
They don’t have authentic value
They are not regulated
They can be used to make illegal transactions
There are still all major market players talking about Bitcoin. Below are some good reasons why you need to use this crypto currency.
Quick payment – When payment is made using a bank, the transaction requires several days, also the wire transfer also takes a long time. On the other hand, virtual currency Bitcoin transactions are generally faster.
The transaction “zero-confirmation” instantly, where traders receive risks, which are still not approved by the Bitcoin Block chain. If the trader needs approval, the transaction takes 10 minutes. This is much faster than inter-banking transfers.
Credit or instant debit or instant debit card transactions, but you are charged to use this privilege. In Bitcoin transactions, the costs are usually low, and in some cases, free.
No one can take it – Bitcoin is decentralized, so there is no central authority that can eliminate the percentage of your deposit.
There is no reject pay – after you trade Bitcoin, they leave. You cannot reclaim them without the recipient’s consent. Thus, it becomes difficult to commit a refused fraud, which are often experienced by people with credit cards.
People buy goods and if they feel disabled, they contact a credit card agent to make a reject to pay, effectively reverse the transaction. Credit card companies do it and charge fees to you with expensive reference costs starting from $ 5- $ 15.
Secure personal details – Credit card numbers are stolen during payment online. Bitcoin transactions do not require personal details. You need to combine your personal keys and Bitcoin keys together to make a transaction.
You only need to make sure that your personal key is not accessed by strangers.
This is not inflation – the Federal Reserve scored more dollars, every time the economy stammered. The government injects new money made into the economy that causes a decrease in the value of the currency, triggering inflation. Inflation reduces the strength of people to buy goods because the price of goods increases.
Bitcoin is in a limited inventory. This system is designed to stop mining more Bitcoin at reaching 21 million. This means that inflation will not be a problem, but deflation will be triggered, where the price of goods will fall.
Semi-anonymous operation – Bitcoin is relatively private, but transparent. The Bitcoin address is revealed on the block chain. Everyone can see in your wallet, but your name will not be visible.
Easy micro-payment – Bitcoin allows you to make micropayments like 22 cents for free.
Substitute Fiat currency – Bitcoin is a good choice to hold national currencies that experience capital control, and high inflation.
Bitcoin became legitimate – large institutions such as the Bank of England and the Fed have decided to take Bitcoin to be traded. The more outlets such as REDITT, pizza chains, WordPress, Baidu, and many other small businesses now receive Bitcoin payments. Many binary trades and forex brokers also allow you to trade with Bitcoin.