Get to know bit coins
If you have ever used internet cash, then you can compare it to bitcoins. BTC gives you the ability to transfer money to any individual at any time without going through a third party in between. The transactions done with bitcoins cannot be reversed and they are traded throughout the entire globe.
Features of bitcoins
With bitcoins, one can exchange and transfer money from one country to another at a low rate. Moreover, you can spend the coins internationally at an affordable rate as well.
With bitcoins, you can do business of buying things via the internet without using any payment services.
You can use bitcoins to guard your wealth from being devalued by the larger financial parities like banks.
Advantages of bitcoins to consumers
- It is extremely easier to do payments with.
- When comparing bitcoins to a credit card, it is more convenient to use it because you do not have to key in the credit card numbers, neither do you need to provide the expiry date and the card holder name among other things.
- Bitcoins provide cheaper prices in the long run.
- Normally with credit cards, the merchants pay for 3% of the transaction fee. But with bitcoins, they can get away with no fee thus providing more savings to the consumers.
- Bitcoins give you the chance to give only the information that is required, hence there is high privacy as compared to other methods of payment.
- With the bitcoins, you pay for goods just like cash. This is more secure because you do not provide information that can be used to steal from.
- Bitcoins add value. Once you save them and use them, their demand increases hence their value appreciates as well.
Benefits of bitcoins to businesses
With bitcoins, there are no reversals. But you may issue refunds with the guarantee of safety with no charges attached whatsoever.
Bitcoins provide low fees for transactions and it is a generally an accepted mode of payment internationally. This implies that your business can do transactions with it throughout the world with absolute confidence.