Advantages of Bitcoin

1) Fast

For banks, transfers between accounts take 3 to 5 business days on average, and perhaps more if they are transfers abroad. In cryptocurrencies, transactions are instant. However, when working with large quantities, it is recommended to wait for several confirmations of the transaction over the network, which usually does not take more than an hour.

Think about your business, not when the bank is over the weekend or at lunchtime. If you want to send a transfer at 3:00 am on Sunday, it means that it will be sent at 3:00 am on Sunday.

Unlike bank transfers, Bitcoin transactions cannot be canceled. Therefore, you need to be extremely careful when working with funds transfer agreements. Despite a few minutes spent in excess, we get:

2) Bitcoin is open source

Anyone can contribute to the development of Bitcoins in a multitude of areas, including different Bitcoin software Clients.

3) Bitcoin is fast and easy to use

Since Bitcoin is an end-to-end digital currency, as described in the original Satoshi Nakamoto white paper, transactions are almost instantaneous. They also have a very low cost, much less than central payment networks, such as PayPal, Visa or Mastercard.

4) Bitcoin is a push system

With Bitcoin, there is no risk of chargeback because, once Bitcoin is sent, the transaction cannot be reversed. Bitcoin is similar to money – once you give money to someone, you cannot get it back (unless it is returned to you).

5) Bitcoin is real money

Bitcoin is used all over the world to pay for things like coffee, food, electronics, travel and more. Some even like to call it magic money from the Internet because of all its incredible properties and its ability to not be spent twice.

6) Bitcoin provides anonymity

If used correctly, Bitcoin can be used as an anonymous currency, free from spy governments.
When using Bitcoin, you do not need to provide your email, name, social security number or any other identifying information when making Bitcoin transactions point-to-point. Bitcoin is just numbers, 1’s and 0’s, traveling over the internet.

If not used correctly, however, Bitcoin can simply be pseudo-anonymous, providing people with much more privacy than using traditional currencies.

7) All you need is an internet connection to use Bitcoin

You can buy and sell Bitcoin from your smartphone or computer. You can even use it to pay for things directly from your Bitcoin wallet at merchants that accept it as a form of payment.

In addition, people who cannot access traditional banking systems can make use of Bitcoin, allowing them to have a device that can connect to the internet.

More recently, bitcoin credit cards have become available. Which means you don’t even need the internet to spend your bitcoins!

8) Bitcoin is transparent

All information related to Bitcoin’s money supply is available for anyone to see on the blockchain. Every transaction made with Bitcoin is available for anyone to see as well. Although personal information is hidden. Take a look at our block explorer.

9) Technological advantage

Technological advantage Excellent divisibility, easy sending and authentication of virtual currencies, maintaining many of the benefits of money.

10) Easy to start

Easy start Lack of complicated registration, age and any other restrictions. For starters, you don’t need anything but Internet access. You download the Bitcoin client to your computer or smartphone, it generates the address of your wallet. From now on, you can send and receive cryptocurrencies.

12) Ability to circumvent any sanctions

Ability to circumvent any sanctions Despite the high volatility resulting from the free market, the fluctuations in the cryptocurrency rate may be much less than the fall in national currency rates in the event of political instability in the state, or even a declaration of default. There is no dependence on central banks, local and other laws, religion, politicians and other attempts to interfere and restrict their operations. Including sanctions.

13) Limited problem

In Bitcoin, no one can generate thousands of bitcoins one morning because a politician or banker suddenly feels like it. There will never be more than 21 million and they all appear for mining, always under totally public rules.

14) Marketing

The fact that a store includes news is very well seen by the target audience. The more technologies and enhancements you provide, the more the customer will value and the more they will visit you. Bitcoin makes business make a difference.

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  • Some experts say Bitcoin and cryptocurrencies are just a scam; others say they are “the most important invention since the Internet”. It is difficult to say who is right. We recommend reading Blockchain Bubble or Revolution to get even more on the subject. Click on the button below to view the book.

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bruno costa