For the first time in history, money is separated from the state. Bitcoin aims to be an alternative to Fiat currencies by providing financial inclusion to anyone, anywhere in the world. A system governed by mathematics and cryptography will put an end to corruption once and for all. The pioneer cryptocurrency can be used globally without limitations thanks to its decentralized model. People can send cross-border payments in minutes without the need for ID verification, background checks, or credit checks of any kind. This brings a whole new era of financial sovereignty as we know it.
What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance
What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance
• Low storage and transfer fees: Bitcoin has no storage fees when compared to traditional financial systems. Bitcoin is superior to fiat money when it comes to money transmission. With the rise in the price of bitcoin, the amount transferred will rise as well. However, it will still be less expensive than fiat cash.
• Its division enables for small transactions: Bitcoin transactions up to the 100 millionth part are authorised. It actually means that each transaction is worth 0.00000001 part, and this number is known as Santoshi ( in order to honour its creator). As a result, even the simplest transactions are simple to complete. It is impossible to do so all of the time in the case of fiat currency. Thus, bitcoin is the most equitable mode of transactions that one can have. The more you explore bitcoin, the better you can know about it.