Post
Topic
Board Bitcoin Discussion
Re: The advantages of bitcoin
by
orenjebum
on 27/01/2018, 05:04:45 UTC
There are many advantages of using BitCoin in lieu of online money transactions. BitCoin is a global exchange rate, meaning BitCoin is not owned by any country, making it easy to use anywhere in the world. This makes international transactions easier as there is no discussion of payments to be used in accordance with country rates and of course prices are not affected by the exchange rate of the country's currency.
 
Another advantage of using BitCoin is that the rate is not controlled by a national bank or other state entity. That is, BitCoin exchange rate is not affected by the economic condition of any country, just like gold or petroleum.
 
Furthermore, because there is no intermediary during the transaction so no costs or fees are required. There may be changes later on based on how to manage the exchange rate, but it does not seem to change much from the current one.
 
Then, the BitCoin you have is stored in your computer's wallet file, so you can control your own finances. BitCoins are not stored on accounts that can be frozen at any time. In addition, you also do not have to worry about the limitations of transactions or other limitations as is commonly encountered in banking