Bitcoin is a relatively new type of currency that has just started attacking major markets.
Critics claim that using Bitcoins is not safe because:
They have no real value
Are not regulated
They can be used to carry out illegal transactions
Still all the main market players talk about Bitcoins. Below are some good reasons why this crypto currency is worth using.
Quick payments: when payments are made using banks, the transaction takes a few days, in the same way electronic transfers also take a long time. On the other hand, virtual currency Bitcoin transactions are generally faster.
Inexpensive: Credit or debit card transactions are instantaneous, but you are charged a fee for using this privilege. In Bitcoin transactions the fees are usually low and in some cases it is free.
No one can take it away: Bitcoin is decentralized, so no central authority can take away the percentage of your deposits.
No chargebacks: once you exchange Bitcoins, they disappear. You cannot claim them without the recipient's consent. Therefore, it becomes difficult to commit chargeback fraud, which is often experienced by people with credit cards.
People buy goods and, if found defective, contact the credit card agency to make a chargeback, effectively reversing the transaction. The credit card company does this and charges you an expensive chargeback fee that ranges from $ 5 to $ 15.
Secure personal data: Credit card numbers are stolen during online payments. A Bitcoin transaction does not need any personal data. You will need to combine your private key and the Bitcoin key to make a transaction.
You just have to make sure that strangers don't access your private key.
It is not inflationary: the Federal Reserve prints more dollars every time the economy is shaken. The government injects the new money created into the economy causing a decrease in the value of the currency, triggering inflation. Inflation decreases people's power to buy things because the prices of goods increase.
Bitcoins are in limited supply. The system was designed to stop mining more Bitcoins at 21 million. This means that inflation will not be a problem, but deflation will be triggered, where the prices of goods will fall.
Semi-anonymous operations: Best Bitcoin debit card is relatively private, but transparent. Bitcoin's address is revealed on the blockchain. Everyone can look in their wallet, but their name will be invisible.
Easy Micropayments: Bitcoins allow you to make micropayments like 22 cents for free.
Substitute for fiat currencies: Bitcoins are a good option to keep national currencies experiencing capital controls and high inflation.
Bitcoins are becoming legitimate: Major institutions like the Bank of England and the Fed have decided to take Bitcoins to trade. More and more outlets like Reditt, pizza chains, WordPress, Baidu, and many other small businesses are now accepting Bitcoin payments. Many binary and Forex brokers also allow you to trade Bitcoins.
Bitcoin is the pioneer of the new era of cryptocurrencies, the technology that gives you a glimpse of the future currency.
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