The advantages of bitcoin

Bitcoin wins the world. It’s not a sensational news and it won’t cause the panic - that is true. Each person on the planet at least once heard the word "bitcoin" and asked the question: "What is that?". So he gets an answer: Bitcoin is a global payment system and at the same time it’s a domestic currency.

People today are very careful about everything that concerns money, then a very rational question raises up: “What are the advantages of bitcoin?”.

It’s a lot of them:

  1. The ability to use the blockchain. This allows you to reduce the payments to notaries, to optimize the work of various organizations, plus to improve bank estimates.
  2. Reducing the time per transaction due to the lack of intermediaries such as correspondents and banking institutions.
  3. The exchange rate is based on market method, authority and money politics has no influence on it. Only market itself.
  4. Easy start. In order to begin using bitcoin you just need Internet access and a computer or other gadget with loaded Bitcoin platform.
  5. The ability to monetize the content by sending and receiving to your wallet thousandths of a dollar.
  6. Work 24/7/365, which means round-the-clock access to the system and the ability to make payments at any time, even at night and on weekends.
  7. The instantaneous transfers of funds. While banks transfer funds to the account within 3-5 working days, the system transfer Bitcoin to wallet in a matter of seconds.
  8. Most transactions take place without any commissions. The amount of the fee, if any, is independent of the size of transferred amount and location of who is making the transfer. The Commission is taken only for large transactions that require more time for processing.
  9. A highly reliable and secure transactions. To protect data and channels of sending funds use the best cryptography that consists of two key types: closed and open. The same technology for data protection used by banks.
  10. Workability. Bitcoin retain the advantages of cash, plus they are well divisible and easy to shipment. To make their translation from the technical point of view is quite simple.
  11. The availability of smart contracts and the ability to put multiple signatures on a transaction. These solutions are particularly good for business, because without the availability of all necessary signatures, payment just won't go away.
  12. The global coverage. The Bitcoin system has no boundaries; it covers the entire planet as well as the Internet. Some well-known large company (Microsoft) accept payments for their products from different parts of the world.
  13. The system quickly sends and receives donations. To whom they are addressed simply provide a bitcoin address, and whoever sends can do it anonymously.
  14. Openness and transparency. Bitcoin does not deceive anyone, so made their codes public, and makes sure that performs only the claimed function and nothing more.
  15. The dependence of the system on the person is reduced to a minimum. Instead of control by issuers - algorithms, continuous mathematics and cryptography.
  16. The course of bitcoin is not dependent on foreign economic activity, it is not formed under pressure from the authorities, politics and religion, and even does not respond to sanctions, making cryptocurrency a stable financial tool.
  17. The possibility of full individual control over all the transactions from the wallet as well as the possibility to revoke the payment.
  18. The Bitcoin account cannot be frozen, so the owner alone can control all financial flows.