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Reasons to use Bitcoin

As time goes by, more and more people look forward to the reasons to use Bitcoin. Bitcoin is a digital currency that allows for a wide range of benefits thanks to the fact that it is not centralized or controlled by any entity or government. Anyone around the world can buy Bitcoin and accept it as a mean of payment since there are already large companies that take Bitcoin as a valid payment method. Although it is popular, people are still not aware of the many reasons to use Bitcoin. We are going to elaborate on some, so you can decide if you want to take part in this new and exciting process.

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One of the most important reasons to use Bitcoin is that it allows for a great deal of freedom when it comes to international payments. The time to perform a payment is tremendously fast since there is no intermediary; the operation is performed with two parties that exchange their Bitcoin information. There is no confirmation step required or anything similar, it is an exchange of the simplest type. This is why Bitcoin doesn't carry additional costs or fees; because there is no intermediary or banking company to pay money to, there are no hidden costs that make a Bitcoin operation more complicated than it should be. All you need to send and receive Bitcoin is a Bitcoin wallet that you can carry in your smartphone as an app.

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Bitcoin for businesses

Bitcoin has managed to become one of the most widely accepted virtual currency, if not the most accepted. This is mainly due to its large amount of benefits of transaction and operation. Bitcoin enables anonymous and fast transactions that do not need to be approved by any banking institution, which is the main issue when dealing with credit cards. Mainly for this reason is why Bitcoin for businesses is a great choice. Using Bitcoin for businesses reduces costs of operation and transactions; besides, the operations take very little time and they are approved in less than 10 minutes by the Bitcoin network.

The cryptography behind Bitcoin allows for efficient and cheap operation. There are practically no commissions when it comes to using Bitcoin and there is an inherent protection against fraud. Other online payment methods such as PayPal or credit cards are vulnerable to fraud or any activity of that sort. Bitcoin transactions are irreversible, so the transactions become very simple and engaging. To send and receive Bitcoin you only need to possess a Bitcoin wallet, and you're able to have as many as you please.

Because Bitcoins do not have a physical presentation, payments in Bitcoin are very quick and liquid. You can transfer Bitcoins to any wallet in the world with just giving your Bitcoin address and receiving the other party's Bitcoin information. There are no delays or regulations imposed by governments or agencies. If you operate your business using Bitcoin, you will see a steady rise in profits because the truth is that credit card companies always charge a commission for their services, no matter what.

It is also possible to manage a Bitcoin wallet so every transaction has to be approved by different parties for it to occur. This enables for a broader range of control when it comes to Bitcoin for businesses. Bitcoin transactions are also public, as every computer must have a record of the transactions that take place; this enables the Bitcoin network to be protected against any operation that doesn't correspond to the so-called “blockchain”.

Bitcoin for businesses is a great solution if you sell products online. You should seriously consider accepting Bitcoin as a mean of payment. Each day more businesses and people are using Bitcoin and there are even physical stores that allow Bitcoin as a standard payment method. The price of Bitcoin is expected to stabilize as time goes by, so you do not need to worry about losing your money if you invest in Bitcoin for businesses.

Bitcoin transaction are also anonymous but public at the same time. No one will be able to discern how much Bitcoin you possess or how many you have sold, but the transactions are needed to be public because the way Bitcoin transactions are performed. Every Bitcoin trade is registered on a public ledger and every Bitcoin computer needs to have an updated ledger in order to verify the transactions and to assure they're legal. This also protects the Bitcoin system against fraudulent transactions.

You can also create as many Bitcoin wallets as you wish. There are no limitations to this aspect as the currency was created to have the highest level of security and freedom possible. Now many large-name companies such as Wikipedia and Microsoft are accepting Bitcoin as a payment method; it is a matter of time until you can use Bitcoin to pay for groceries or to repair your car, or maybe get a haircut.