2 min read
There are several reasons why you want to decide to use Bitcoin instead of traditional currencies.
One of the most reason is the Bitcoin’s capability to be used anywhere, anytime, and in any amount.
When you are using Bitcoin, there are no borders, no bank holidays, no bureaucracy.
All aspects of Bitcoin are controlled by users.
Another reason can be the lower fees.
That’s why many people are starting to choose Bitcoin as a currency. When receiving Bitcoins you do not pay any fees.
Before sending Bitcoins from your wallet, you will have an option to choose how high your fees. This is depending on how fast you want to verify and complete your transaction.
That luxury you don’t have with bankers transactions. You have to pay as much as they decided it to be.
But it isn’t the best part on why to use Bitcoin.
All transactions, no matter how many Bitcoins you are sending, will cost the same amount in fees.
That is the most wonderful part.
You can send 400,000 BTC or only 1 BTC and the fee for the transaction will be the same.
That’s wonderful, don’t you think so?
Even more, merchants are offered special merchant processors who assist them with processing transactions. In exchanging BTC into the merchants’ preferred form of fiat currency, and depositing the money directly into their bank account.
And all of these transactions are Bitcoin network based. This means the fees are much lower than if you use your credit card.
Or some else card or payment method.
But the most important
All Bitcoin transactions are secure, contain no personal information about the buyer and irreversible.
That makes Bitcoin the perfect currency for merchants who are seeking security and stability.
This opens up a world of opportunities for any merchant. It gives them the ability to expand into locations that have high fraudulence risks. Or where Credit Cards aren’t accepted as a method of payment, all while keeping their services or products safe from fraud.
Well, there is a very high fraudulence risk with credit cards.
But with Bitcoin, it is absolutely excluded.
It’s impossible with Bitcoin.
Paying with BTC give the opportunity to both side, merchants and buyers, to expand into locations that have high fraudulence risks and to avoid insecurity.
No matter how you spin it, this is a win situation for merchants.
On the buyer’s side is an advantage because each user has full control of their wallet. It is completely impossible for a merchant to charge a user without their knowledge, as often is seen done by many unethical trades.
Payments are made without giving any personal information, so the merchant doesn’t even have to know your name to complete a transaction.
Besides, if you as a user or buyer and still feel unsafe or vulnerable, you can protect your BTC via a backup or encryption.
And the best feature of the Bitcoin system – all transactions are transparent and clear on the public blockchain.
This means if there are any complications with any transactions. They can be instantly looked up, on the public ledger and verified.
Bitcoin’s core code cannot be manipulated in any way to give an edge to either the seller or the buyer, because everything is cryptographically secure.
But like in everything, there are some reasons why shouldn’t you use Bitcoin.
First of all, relatively there is still a small amount of businesses and people using it. The main reason for this is the low knowledge of the benefits that BTC offers. Many businesses are on-board and they want to integrate BTC into their payment system, the list is still small.
High volatility is something else that you should consider.
The amount of businesses that use Bitcoin is low and any event, trade, or activity can have a high effect on the price of Bitcoin.
Over time this volatility will decrease and stabilize as more and more companies start using Bitcoin.
Actually, Bitcoin is still maturing and this presents a certain degree of risk. It is only 11 years old and what we can expect from it except hormonal party as well as every entry into puberty. That was the joke.
Bitcoin is the first, oldest and largest cryptocurrency and we have to support it with mandatory respect.
Bitcoin showed the world a new sense of freedom and was the cause of the development of other cryptos.
Read this too: Why you should not invest in bitcoin under any circumstances