The Advantages of Bitcoin Trading You Should Know About

The Advantages of Bitcoin Trading You Should Know About

Bitcoin (BTC) is a cryptocurrency and an innovative payment network that was registered in the wake of the 2008-09 crisis. Digital currency offers several benefits such as lightning-fast transactions and low fees which help to make up for that annoying lack of privacy bitcoin has. More and more traders and individuals are joining the bitcoin bandwagon every day and for good reason! Here we present some of the advantages you should know about Bitcoin  trading:

1 –  Lightning Fast Transactions:

One of the biggest problems with fiat currency is that it can take days and even weeks for a transaction to complete. This is not the case with the. Whether it's 10 am or 2 am, you will get your money in an instant! There are no intermediaries involved which means no more waiting time and less hassle. You can check the Bitcoin Loophole website If you want to send some BTC to your buddy in another country, Bitcoin, all you have to do is key in his bitcoin address and transfer away; there are no limits and this transfer cannot be reversed (unless the other party decides to do so).

2 – Lower Transaction Fees:

Can you imagine having to pay more than $35 every time you want to withdraw money from your own bank account? You can end up paying that amount if you are withdrawing amounts of over $1000. However, with bitcoin transactions there is no fee for transfers of any value; all you end up paying is a small fee for miners (to process the transaction). Don't worry this too has been kept at an absolute bare minimum.

3 – Privacy:

Bitcoin transactions are anonymous which makes it perfect for people who prefer privacy. All BTC wallet owners have one or multiple public keys which act as their bitcoin address(es) and these form the only information needed in order to execute a transaction. This means that, unlike the credit card system where your name, billing address, and other information are needed in order to process a payment, all you have to do with bitcoin is key in the receiver's address!

4 – Decentralization:

Because of its decentralized nature, bitcoin transactions cannot be interfered with by governments or financial institutions. This makes it an excellent choice for people who are against the system or are looking for some extra privacy. With traditional payments systems such as PayPal or credit cards, users' information can get hacked into which gives hackers access to their full financial records which allows them to make fraudulent transactions. However, with BTC these problems can never happen because of its unique blockchain technology.

5 – No Charge Backs:

With BTC there are no chargebacks. What this means is that once a BTC transfer has been made, it cannot be reversed; the other party gets to keep your money and you get to keep their product (irrespective of whether you like it or not).

6 – Bitcoin Value:

Bitcoin value is another reason why people should seriously consider trading with BTC instead of fiat currency which can depreciate without notice. Bitcoin on the other hand will remain at one price (the price set by the free market) forever! This makes bitcoin an excellent store of value and, unlike paper money, there are no restrictions imposed when you decide to convert your BTC into something else. You have total control over your bitcoins!

7 – No Inflation:

Another big problem with traditional payment systems is that they can lead to inflationary pressures. With its decentralized nature, there are no restrictions on how much bitcoin can be mined thus creating an economy that has a fixed supply of BTC in the market. This means you will never need to worry about your digital assets depreciating due to loss in value over time because bitcoin is only limited by the number of bitcoins in existence and not by any other limitations!

8 – Bitcoin is Secure:

The security of fiat currency is questionable in today's world with cyber-attacks happening all across the globe just at the swipe of a hacker's keyboard. However, when it comes to bitcoin, every single transaction gets recorded in an open distributed ledger meaning that if someone does try to make unauthorized changes; the entire BTC community will know about it! This makes bitcoin transactions very secure.

9 – Bitcoin is Open Source:

Bitcoin is an Open Source project which means that anyone can contribute to its development or have access to its code in order to make improvements to it via Github.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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