What are the advantages of Bitcoin?
Advantages of Bitcoin:
Payment Freedom: Paying through bitcoins provide the utmost freedom. Bitcoin can be transferred to any person in any part of the world. No intermediaries in between. No bank holidays/strikes. No boundaries or borders. No payment limit.
Less Risk for Merchants: Bitcoin transactions are secure, irreversible, and does not contain any customers’sensitive or personal information.This protects merchants from losses caused by fraud or fraudulent chargebacks.
Faster: Bitcoin transactions are very fast if compared to banking channels. A bitcoin transaction is as fast an e-mail and can be processed with in 10 minutes
Minimal Fees: Paying through Bitcoin has very low and sometimes no transaction fees at all. It all depends on the priority of the person. If a person wishes that his/her transaction get’s processed fast, he has to pay a transaction fees which is still very low as compared to any financial intermediary or digital wallets.
Anonymous and Personal: Bitcoin transactions are completely anonymous and private. Unlike in payments through bank, where the transactions can be tracked and identified, bitcoin transactions cannot be identified
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Bitcoin comes with lower transaction fees. Though such fees are variable, it’s rare for a Bitcoin transaction to cost more than 1% of its value.
- User Anonymity
- No Third-party Interruptions
- Purchases Are Not Taxed
- Very Low Transaction Fees
- Mobile Payments
Those are the advantages of Bitcoin.