Benefits of Bitcoin

[BradRB]

Bitcoin transactions are cheap. Normal currency transactions are expensive, especially where large amounts of money are involved. Another advantage of transacting in bitcoins is that it is tax free. Since it is not controlled by the government, no duties or taxes are payable by either party.

Cryptocurrency payments are also some of the safest payments methods of funds transfer. There is no identity theft as is the case with credit cards. Finally, bitcoin transactions are very fast and convenient. It only takes a few minutes for a transfer to be successful.

 

[BlockMinded]

I will share some information about Benefits of Bitcoins

Bitcoins make it possible for buyers to complete their payments without divulging any sensitive financial information (like credit or debit card details) to the seller.

With bitcoins, there’s basically zero risks of inflation.

Transaction fees for bitcoin payments are significantly lower in comparison to the ones made for credit and debit card purchases.

Credit card funds can be locked up for as long as a week (or even more) in case a customer asks for a chargeback. Thus, payment delays occur for apparently no reason whatsoever.

 

[Brosniklav]

It's more exciting to buy with bitcoins!!

 

[jOPLER]

I agree, quickness and safety are probably the main things when you talk about bitcoins. Blockchain gives you the highest level of security )

 

[Areding]

There are pros and cons, for each investor and trader, it all depends on our skills and capabilities, and in the end the country in which you are located.

 

[solarcrypto]

Private and Instant!

 

[Frillik]

For me the largest benefit of bitcoin is that it can’t be controlled by the government, banks or any other institutions. Bitcoins can’t be frozen or sized. You are the only boss for your crypto funds, and you are free to manage it at your disposal. Bitcoin eliminates the borders, it can be received or sent from anywhere in the world, and you don’t need to have a bank account or credit card. All you need to send bitcoin is the Internet. Bitcoin is a great store of value as well due to the limited number of coins that will be mined. Thus it is also immune to inflation.

 

[solarcrypto]

Couldn't agree more. The rise in platforms that enable the usage of crypto payments just shows how valuable it can be.

 

[Tan85]

An important addition: a limited number of bitcoins - which means that it will always be expensive.

 

[OllieCrypto]

how can you claim that bitcoin transactiosn are tax free?
that is completely false in numerous locales, and bitcoin is also illegal in others.
seems you are speaking very generally about possibly the legal status of bitcoin in your area only

 

[Peter889]

Bitcoin is cheaper than legacy payment systems.
It depends.
If the sender doesn't have Btc and the recipient doesn't accept Btc, using Btc is more expensive than any traditional payment system, because you have to exchange 2 times fiat <--> Btc.

Bitcoin is faster than fiat.
It depends.
If the sender doesn't have Btc and the recipient doesn't accept Btc, using Btc takes more time than bank wiring.
[doublepost=1560020386][/doublepost]A couple of drawbacks of Bitcoin vs. fiat
Bitcoin is no legal tender, fiat is.
Bitcoin is more volatile than your local currency, so it can't be money, store of value

Bitcoin has a eternal merit: It opened the door.
It was the currency which make the world discuss about blockchain based currencies.
Nobody will never take him this merit away, ever