Amazing benefits of Bitcoin you should know!
Bitcoin is the current favorite of a generation. Whether be it traders or common masses, everyone is equally interested in Bitcoin trading and wants to make the most out of it. Despite the popularity of Bitcoin, not everyone is aware of Bitcoin’s existence.
Many people even wonder, like what is so special about Bitcoin? I am sure you must be even thinking by now, why people like Bitcoin?
Well, no need to worry as in this article I will provide you with some of the amazing benefits of Bitcoin, which I am sure you never knew about. Trust me, your perspective regarding Bitcoin will be changed after this article.
So, what are you waiting for? Tighten your seatbelts and let’s being the roller coaster ride!
What cryptocurrency is all about?
Cryptocurrency is a digital currency that you cannot touch, though you can see. it in the numerical form on your computer or mobile screen. Cryptocurrency can be easily transferred with the help of blockchain technology which is easily accessible to everyone. Cryptocurrency is designed to be decentralized and it is not controlled by any third party, unlike fiat currency that is controlled by government bodies and banks. This is the beauty of Bitcoin and that is the answer to your question that Why people like Bitcoin?
Bitcoin cryptocurrency can either be purchased from the stock exchange or even by mining. The traders who use computing hardware for solving tough Maths puzzles and have knowledge of algorithms, call themselves miners. These Miners are awarded Bitcoins for solving Maths puzzles and mind you, it is not at all easy.
Now, let me list down some of the benefits of Bitcoin for you!
No chargeback payments!
I guess this would be a favorite feature of the traders. The traders would be well-aware of the chargeback payments. Many times it so happens that the client cancels the transaction just after sealing the deal and making the payment. In such a case the traders are charged by the bank for chargeback, but this not the case with Bitcoin.
With Bitcoin, when you have done the transaction once, it cannot be reversed back at all. Bitcoin is 100% irreversible and it cannot be charged back.
Going up and up always
Bitcoin is said to be highly volatile by nature and it is true to some extent. During the initial years of origin of Bitcoin, it was highly volatile and its value was constantly on both highs and even lows consecutively.
However, in the last 6 months, the value of Bitcoin has seen a huge change and has stabilized in a good way. The value of Bitcoin is regularly on the rise, which is good news for Bitcoin traders.
No age limitations, no formalities
For trading Bitcoin, you do not require to be of a specific age. Any age person, from any country, can easily accept Bitcoin.
To start trading Bitcoin all you need is a Bitcoin wallet for storing and doing Bitcoin transactions. You can easily download a Bitcoin wallet from the internet. There is no requirement of address proofs, ID’s of any kind. The best part is that you can use 1000 different Bitcoin addresses and there is no limitation to it.
Making Bitcoin transactions is much cheaper as compared to the fiat currency transactions. A Bitcoin transaction even to foreign lands charges 0.0005 BTC per transfer, whereas the fiat currency transaction charge fees of 3 to 5 percent of the whole transaction, which is pretty expensive.
So, these are some of the amazing benefits of Bitcoins.