Good Reasons to Use Crypto-Currency Bitcoin

Bitcoin is a relatively new currency that is just starting to hit the mainstream markets.

Critics claim that Bitcoins are unsafe due to -

• They don't have any authentic value
• They are not subject to regulation
• They can also be used for illegal transactions

All the major market players still talk about Bitcoins. Here are some reasons to use this cryptocurrency.

Pay quickly -While bank payments can take up to a few days, wire transfers and transactions by banks can take as long as a week. Virtual currency Bitcoin transactions, however, are usually faster.

"Zero confirmation" transactions are instantaneous. The merchant accepts the risk and the transaction is approved by Bitcoin block chain. The transaction will take 10 minutes if the merchant requires approval. This transaction is faster than any interbank transfer.

Inexpensive -You will be charged a fee to use this privilege. Credit and debit card transactions can be done instantly. The fees for Bitcoin transactions are often low and, in some cases, free.

It is impossible to take it away. Bitcoin is distributed and decentralized.

No Charge back They are lost once you have traded Bitcoins. Without the consent of the recipient, you cannot return them. It becomes very difficult to commit chargeback fraud. This is often the case for people who have credit cards.

If a product is not as described, the buyer contacts their credit card agency to request a chargeback. This reverses the transaction. Credit card companies charge a fee of $5 to $15 for this Ethereum Alarm.

Secure personal information -Online payments can steal credit card numbers. Bitcoin transactions do not require personal information. To make a transaction, you will need to combine your private and Bitcoin keys.

Only you need to make sure that no one else has access to your private key.

It's not inflationaryWhen the economy is struggling, the Federal Reserve prints more dollars. The government injects new money into the economy, which causes a decline in currency value and thereby triggers inflation. Because prices rise, inflation reduces the ability of people to purchase goods.

Bitcoins are scarce. It was created to stop mining Bitcoins after reaching 21 million. Inflation won't be an issue as the system will stop mining Bitcoins after reaching 21 million. However, deflation will occur, in which goods prices will drop.

Semi-anonymous operations Bitcoin is transparent, although it is private. At the block-chain, your Bitcoin address will be revealed. Your wallet can be viewed by anyone, but your identity will remain hidden.

Micro-payments made easy Bitcoins makes it possible to make micropayments, such as 22 cents, for no cost.

Substitute for fiat currencies Bitcoins can be used to hold national currencies that are subject to capital controls and high inflation.

Bitcoins are becoming more legal Major institutions such as the Bank of England, Fed and Fed will now accept Bitcoins for trading. Reditt, Baidu and other small businesses accept Bitcoin payments. You can also trade with Bitcoins through many Forex brokers and binary trading platforms.