- Here are some of these features:
- It does not belong to any state or country and can be used worldwide alike.
- It is decentralized: not controlled by any State, bank, financial institution or company.
- It is impossible to counterfeit or duplication thanks to a sophisticated cryptographic system.
- No intermediaries: Transactions are made directly from person to person.
- The transactions are irreversible.
- You can change bitcoins to euros or other currencies and vice versa, as any currency.
- It is not necessary to reveal your identity when doing business and preserve your privacy.
- The money belongs to 100%; can not be operated by anyone or accounts can be frozen.
Benefits and advantages of Bitcoin
Image Currently, Bitcoin is the most widely used digital currency worldwide and there are good reasons why it is becoming increasingly popular. Both private users and vendors and business owners are in Bitcoin important advantages that have led them to adopt this system. Some, as we mentioned at the top, but there are many other beneficial reasons discussed below.
- Bitcoin offers security to both buyer and seller.
Bitcoin is also preferable to other online payment systems, especially for the seller. In Bitcoin transaction rates they are very low and there is no risk that fraudulent buyers and scammers reverse payment, staying with both the product and with the money.
Finally, the characteristics of Bitcoin allow pages to establish a trust service, ensuring that the seller receives the money only if the product has successfully reached its destination. This is often used on auction and sale of second-hand goods.
- Bitcoin lowers costs by eliminating middlemen altogether.
In Bitcoin no intermediaries and the money goes directly from person to person: from buyer to seller or owners. This reduces substantially the price of sending money and also allowed to sell products and services at a fair price.
- Bitcoin is right.
- Your bitcoins are only yours.
- Bitcoin is democratic: the economy of the people.
In the next chapter we will see how Bitcoin works and what mechanisms make it possible:
Maybe you want to: The Bitcoin and Multilevel Fraud