Bitcoin is a big problem right now, but not everyone understands why. More importantly, everyone does not understand if Bitcoin is for them and how they can get involved. Here are some of the most convincing reasons for which you should use Bitcoin.
More secure than banks
The Bitcoin algorithm is also close to Bulletphown that a computer program can get. Some of the best online pirates and online experts took a crack on this, and so far no one can find weaknesses. The Bitcoin code has been described as a written manner, the digital equivalent to Shakespeare.
Banking transactions, meanwhile, are under a level of security lower than that of Bitcoin. In many ways, Bitcoin had to be more secure than banks. After all, banks have been around for centuries and people understand how it works. But Bitcoin is the new, young lever and must prove themselves.
This makes a bitcoin target for those who would like to see him fail. But the inventor of Bitcoin Satoshi Nakamoto has kept this in mind by writing the Bitcoin algorithm. Go ahead, give him a shot. I do not think you’re able to break it.
Service charge below banks
Banking institutions charge high rates per transaction. The system is put in place so that individual transactions between two people are impossible; They require a third party “trust” to facilitate the transaction. And, of course, banks become service charges to facilitate these transactions.
You can use escrow services with Bitcoin who take service charges, but you are not obliged. As Bitcoin is based on P2P transactions, there is no service charge. Naturally, banks are not a big fan of Bitcoin because of that.
Low risk of inflation
The number of Bitcoins created is defined at a predetermined rate. This means that there is no possibility of a government printing more money to repay their debts.
While the foreign currencies of the real world lose a small percent of their value each year, the price of Bitcoin seems to be regularly higher.
Low risk of collapse
When your currency is attached to a government, it depends on the stability of this government. You both know that governments can fall, and when they make money, they are printed can sometimes become worthless. Take a look at the invoices in your wallet. You worked hard for them. Can you imagine them one day becoming less than the paper they have been printed?
Because Bitcoin is not attached to any government or central authority, it does not depend on external circumstances for its value. As long as the Internet exists, Bitcoin will continue to exist and be valuable.
So looking to current market trend, you should definitely use and invest in bitcoin.