What are the advantages of Bitcoin?

Modified on:

Some of the advantages of the Bitcoin technology are

Freedom of payments

With Bitcoin, you can transfer and receive any amount of money instantaneously from and to any place in the world, at any time. No banks with schedules. No borders. No imposed limits. The users of Bitcoin always have full control over their money.


Very low rates

Payments with Bitcoin are currently processed with low rates or without any rate. The users may include a rate in their transactions to receive priority in the processing of such, resulting in a faster confirmation of the transactions by the network. Moreover, the commercial processors are there to advice traders in the transaction processes, making Bitcoin the fiat currency and depositing funds daily directly in the trader’s account. Since these services are based on Bitcoin, they are offered with charges much lower than those offered by PayPal or the credit card networks.


Lower risks for traders

The transactions with Bitcoin are safe, irreversible and do not include any personal or private data of the clients. This protects traders against losses caused by fraud or fraudulent refunds, and compliance with PCI standards is not necessary. Moreover, traders can operate in new markets where credit cards are not available or fraud levels are too high. This implies better fees, more extensive markets and fewer administrative costs.


Security and control

The Bitcoin users have full control over their transactions; it is impossible for traders to force unwanted or undetected charges, as may occur with other methods of payment. Bitcoin payments can be made without being associated to personal information. This offers a high level of protection against identity theft. Bitcoin users can also protect their money with security and encryption copies.


Neutral and transparent

All the information regarding the Bitcoin supply is available at the blockchain for anyone interested in verifying and using it. No individual or organization can control or manipulate the Bitcoin protocol because it is cryptographically safe. 


Bitcoin can be trusted because it is completely neutral, transparent and reliable.


Was this useful?