As we all know all that bitcoins are one of the most popular crypto currencies that are used in worldwide. Using this electronic money for transaction has numerous benefits and some of them are listed
As we all know all that bitcoins are one of the most popular crypto currencies that are used in worldwide. Using this electronic money for transaction has numerous benefits and some of them are listed below.
- Easy to carry – Since bitcoin is digital money, it does not physically exist and is not visible. When transactions are made with real money, one need to carry them and with this electronic money, it is easy to transfer from one place to another as they are not printed.
- Instant payment – Bitcoin transactions are made within a few seconds that is one can receive or send them instantly with an internet connection. It does not involve any transaction cost and this plays an important role in transacting goods across two countries.
- Anonymity – Though each and every transaction made with this crypto currency is stored in a public ledger, block chain, it is highly anonymous since the directory has only the public address of the sender and receiver and this address can changed frequently.
- Impossible to steal – Nowadays, money is one of the most needed means of living, as it is added to the list which includes air, water and food. With bitcoin wallets, this digital money cannot be stolen by anyone or by any hackers because they are highly secured.
- No central authority – Due to its decentralized nature, this money is free from interference as well as manipulation of government bodies like banks and other financial institutions.