Advantages of using Bitcoin

Lets focus on the major advantages:

LOW TRANSACTION FEE

While doing a transaction (buying bitcoin or selling) there is a very nominal fee which a trader has to pay, Digital Currency exchanges help merchant process transactions by converting bitcoin into fiat currency. In general these services have lower fees than credit cards and payment gateways.

NO ONE CAN SEIZE BITCOIN

As there are multiple redundant copies of the transactions database, no one can seize bitcoin. At most someone can force the user to send the the bitcoins to someone else by other means. This also means that governments can’t freeze someone’s bitcoin and one can will have complete freedom to do anything with his/her money.

CAN'T BE STOLEN

Ownership address can only be changed by the owner. No one can steal Bitcoins unless someone has physical access to the user’s computer. There are few authentication details required to gain access to finances, It is not like the traditional currency system, this system requires physical access, which makes it much harder to steal.

TRANSACTIONS ARE IRREVERSIBLE

Once a transaction is done it cannot be reversed, As the ownership details of bitcoin will be changed to a new owner, once it is changed, it is impossible to revert.

NO TRACKING

Only user can publicise his/her wallet addresses publicly, no one can trace transactions back to them. No one, other than the wallet owners, will know how many bitcoins they have. Even if the wallet address is made public, a new wallet address can be easily generated. This increases privacy compared to traditional currency systems, where third party potentially have access to a persons financial data.

NO PAPERWORK

Anybody of any age of any country can receive bitcoin within minutes. There is no id proof or photo proof or passport required like all the banks who requires tonnes of paper to open a account. One can have 1000s of different addresses if he wants, there is no limit to the number of Addresses that one can have.

APPRECIATING VALUE

Bitcoin was initially highly volatile during the first few years of it’s inception, however the last 6 months has seen increase in price/value, on a daily basis.


You can start Trading with BITSSA A cryptocurrency Exchange for the emerging world.