Quote from: Selina M on June 18, 2020, 11:47:18 AM

Benefits of using Bitcoin:
1. Bitcoin does not allow any third parties to track, identify or stop transactions.
2. No sales tax are added onto any purchase.
3. Transaction fees is low.

1. Bitcoin blockchain is completely transparent system, so third parties can track and actually do tracking, and are always trying to identify who senders and recievers are. It is true that tery cannot stop you from transacting at least on a network layer.
2. It depends on a country you live in. In some countries you should keep records on your purchases and investments.
For example for US citizens:

Quote

The IRS has made it mandatory to report bitcoin transactions of all kinds, no matter how small in value. Thus, every US taxpayer is required to keep a record of all buying, selling of, investing in, or using bitcoins to pay for goods or services (which the IRS considers bartering).113

Because bitcoins are being treated as assets, if you use bitcoins for simple transactions, such as buying groceries at a supermarket, you will incur a capital gains tax (either long-term or short-term depending on how long you held the bitcoins).

Source: https://www.investopedia.com/articles/investing/040515/are-there-taxes-bitcoins.asp
3. Transactions are only relatively low. If you wish your transaction to be included in the next block, sometimes you have to pay high fees.