Bitcoin Forum

please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.

Bitcoin is irreversible, have cheap transaction fees, instantneous speed and is pseudonymous.

Bitcoin's irreversibility allows transactions to be secured in a matter of hours or even minutes, disallowing chargebacks which can hurt the merchant financially. Compared to many banking system, Bitcoin has the fees that are counted in cents instead of dollars. Bitcoin can have transactions appearing in the matter of seconds with the fast propagation speed. Bitcoin can be pseudonymous if it is used correctly, disallowing governments to track the transactions.

Bitcoin would never work with banking systems.

you can send and receive bitcoin from any place and not depend on different of time on each places, you can trading bitcoin with many cryptocurrency and fiat in many market exchange, bitcoin is really simple, no need to write down our identity, its secure and safe, while in the traditional bank we need to fill our identity.

the low fee of transaction that help us to send any amount of bitcoin, can use any wallet you want as bitcoin can receive in many wallet, bitcoin is a long investment and there is a good chance to make a lot of money in future.

I think the major advantage to use Bitcoins in less transaction fees. And hassle less procedures.
Just enter the address and click "send". That's it, it's gone.

And another reason for the popularity is de-centralization of the bitcoins system. Humans love anonymity, that paved the first success of Bitcoins, I think.

there are too many advantages for using bitcoin and i believe that you will only understand these advantages if you use bitcoin yourself.

for me the most important ones are decentralization and also the high security that bitcoin has.

As BTCLovingDude say, there is many advantages about Bitcoin over fiat or online banking. This also means that there is a lot of disadvantages too. One of the reason why I use Bitcoin is because that it has no requirement other than a internet-connected device. Unlike Paypal or other online payment solutions whose require you to be of certain age before you can apply for their services.

Another good point about Bitcoin is that it is controlled by the public - everyone, you and me. Unlike traditional systems, whereas it is controlled by only one third-party.

That is the main. But for customers the low fee and no tax is a good advantages for them. Ther is a maximum  limit of bitcoin so it have no inflation. If we safe our fiat in bank, we will get inflation every years and pay monthly cost. anonimity of bictoin make nobody know that we have bitcoin. It is not just a currency but it also an investment. There is so many advantage of using bitcoin.

The advantage of bitcoin for me is fast transaction and it's less fee when you are sending some one in the world if his using bitcoins too and i can really say that sometimes i use bitcoin as physical money to shop online or to shop offline and i can save bitcoin from bank that converts fast.. into fiat.

In banks, you can store your money in terms of fiat. Fiat doesn't increase its value over time, bitcoin does. The bank system is ran by the government. In Bitcoins, you're your own bank and no one controls the Bitcoin network.

I am not sure why would you want to let somebody else hold your Bitcoins because you are your own bank in Bitcoins. You're the one who makes it secure, you're the only person who's in charge if you're going to let people steal your private keys or hack into your account.

Banks don't want bitcoin, they just want the blockchain, for sure they will create a alt in the future or something like that, and well, for sure it will make the others cryptos goes up because everyone will know what's blockchain and their benefits.
the problem with the banks is someone have a hand on your money ;)

The advantages of Bitcoin are many and I still believe that some of it have not even been derived.

1.  Fast and trust-less

2.  Anonymous/ faceless transaction

3. Total control over my money/ investment

4. Immutability

5. Anti establishment

One very important advantage for me is that with bitcoin everything is much easier, there is no bothering with some stupid administration, with bitcoin
at least we have some kind of anonymity.
With bitcoin I have some kind of control, I`m free to do what I wish with my money in every moment. To move them, cash out, or buy something.
Banks are old system, and I hope they will end their existence in some near future. They controlled this world for too long I think, maybe its time
something else to take that throne.

Yes here i had found a new word in bitcoin that is  pseudonymous. before i assumed it as anonymous but but i knew that it's not anonymous. pseudonymous feature is great to check  scam website where they pay in real or not.

it's fast, transaction happens in a matter of few seconds

it's half anonymous that is pseudonymous. one can track bitcoin transaction this helps to check where money is transferred really or not, no one can fake in bitcoin transaction.

you have total control over your money, you are the back of your money.

it's much more secure than traditional bank system.

its true but the main advantages of bitcoin is we can make a real money for selling bitcoin and withdraw it into our bank account. but i think its only a few advantages of bitcoin and i am sure that we don't know yet how is the full advantages of bitcoin because bitcoin itself is just seven years from the launch and its need times to realize that bitcoin is make our life easy and simple for making of any transaction.

6. Cheaper / Lower transaction fee / Charges

7. Flexible/ You can have online wallet and can transact anytime,anywhere

8. Value appreciates over time

9.Creates opportunity to earn especially to industrializing countries.

There are many advantages you list here but I like the cheaper charges when sending or paying. Next is fast and you can verify on blockchain.

The transaction of bitcoin is so transparent that it is match if it use in the government, the government should be have a own address ( will be better if the address change into unique address ) to avoid misappropriation money in government scope. But the address must be share in the official information that it address is by government.

9. fluctuation are more favor with traders.

im into trading and i really love how bitcoin works advantage of chasing the movement get us advantage to earn from this investment.

The best advantage of using  bitcoin is that we could send/receive money anytime, anywhere and even throughout the country. We can easily send money to our loveones in just a minute without leaving our house. Then less hassle, less transaction fees,  anonymous, and trustless..

-cheaper transaction fee to send and receive cross border payments
- easier and you are in control of your money
- self sustainable decentralized payment network
- no any central body to manipulate your balances or block you from accessing your money.

There are many more advantages but few that i like about bitcoin are above.

Thread number 576 about the advantages of Bitcoin and can Bitcoin be used by banks.

Surely there must be some other thing to talk about that's relevant to Bitcoin.

Yeah this is good for bitcoin since some transaction are asking for high fees and it takes a long time or days before they can receive their balance here in my country we can withdraw bitcoin fast and instant.. no hassle no identity required..  unlike other companies.

lol. bitcoin seems to be accepts soon by bank when we see the news announced from the citi bank new york. I personally want to say that bitcoin is the only money which can be acts as transaction and transaction mode. So anonymous in transactions provide additional value for the bitcoin's potential.

the advantages of bitcoin over traditional bank system
1. low fees
2. you send money anytime and anywhere you want and not need go to the ATM
3. you can manage your own money
4. no one know how much you have

and there are many advantages of bitcoin.

When you buy anything using Bitcoins, you dont have to give any of your personal details.
Government cannot trace any of your transactions.
Governments cannot impose tax on your earnings.
Transaction fees is  very low when compared to banks.

independence of the bank

speed transactions

privacy

anonymous

no transaction costs

There are many benefits to Bitcoin :-)

plenty advantages using bitcoin such as i have fully control and could fully access for my bitcoin, fast transactions, low fees i think the answers will be same but i don't think bitcoin system could be adoptable for bank system because banks supported by government and that mean the government also controlling bank but bitcoin is independent so because government cannot full access to bitcoin i think they will considers bitcoin system too risky for them

Already many had responded and mentioned the advantages of bitcoin. Let me go in deep.

In bitcoin the main advantage is you can see your money growth because price keeps fluctuating and if hoi take 1 year time interval then obviously your 1 bitcoin will give you start $100 profit. So why not use bitcoin.

Well if we compare the advantage of bitcoins over the bank there are morely good advantages of bitcoins over bank .
Bitcoins have less hassle to cash in and cash out
You can send money anywhere and you're identity is hidden(anonymous identity )
You have your own bank bitcoin wallet and it is profitable as the price goes up unlike in bank its only interest you earn.
Etc.

Well bitcoins can be adoptable in any banks as if they will accept its blockchain technology for faster banking but it will take more years.

The advantages for using bitcoin over using the bank system, there is a freedom for your to controlling your financial if you're already put them into your cold storage. or i think you have all of the control into your assets. more cheap in fees if you wanna for sending the amount into your family and easy for converting into various typr of fiat currency.

Bitcoin is a Digital Currency Invented By Satoshi Nakamoto And Now Officially Handled By the Blockchain Network and The Main Features Of Bitcoin are As Follows:-
1) Bitcoin Transactions Has Low Fees And the Transactions Are Instantaneous......
2) Bitcoin Can Be Transfered anywhere in the World Without The Extra Charges......
3) Bitcoin is Not Owned By the Government Of Any Country......

A couple advantages of the bitcoin are that it can be controlled by yourself, its usable as a investment but also as a normal currency.
Last but not least it can be used everywhere on this globe..

Another thread about the same...

Basically the principal thing is the money is not in the hands of governments or banks, the others things are BS.

This thread are similar with this one i hope you're just visiting the old one in here
https://bitcointalk.org/index.php?topic=1638759.20 for your second question is already provided too and just use the toolbar search for that.

Banks providing a wallet service is something that's likely never going to happen at least not with Bitcoin in its current form. However I think it's entirely possible that, with some tweaking, banks could allow people to deposit money to their accounts using Bitcoin. They don't need to hold Bitcoin, they just have to instantly convert the coins to dollars/local currency.

to me there are 4 main advantages of bitcoin, one is that we can keep our money safe in bitcoin, second is that we can make a good profit from bitcoin if the price of bitcoin goes up, third is that we can do shopping using bitcoin from everywhere in the world, and the 4th is that we can transfer our money from from one place to another very easily through bitcoin.

There are about 100 threads about the same topic.

Just use the search bar and search the forum for previous threads.

Those questions are answered 1000 times here.

There's so many advantages that we can see and experience in bitcoin, such as: easy to use for the users here, then in every transaction it has a quick response, aside from that bitcoin is very safe and secured for the bitcoin holder lastly its so convenient to everyone.

There are many advantages of using bitcoin and this topic have been discussed many times in this forum.
Some of the advantages includes, fast, almost zero transaction fee, non-reversible, anonymous payment system, decentralize system which will never go offline etc are few key features most of us like about bitcoin.

The advantage of bitcoin has so many things that can give to any individuals here. First is the charge is so low in each transaction that you wanna make, and so quick to response  for the confirmation, and very easy to use for the users like me.

Bitcoin have many advantages like i can pay bill direct to my bitcoin wallet.
Its easy to send money using remittances if you want to send money instant to your family.

the advantages of it 1. Low transaction fee 2. Bitcoin cannot manipulate your money 3. private key used in case you forgot your password 4. Faster transaction confirm the higher transaction fee the faster it get confirm

I think people mentioned a lot already but I'll give you my list:
1. Fast transactions. Some people say that Bitcoin's transactions are slow but I disagree. My trasactions usually take less than a minute.
2. Anonymity. Yes, you need to have a wallet and it is possible to see transactions of any wallet but still there is no direct connection between a wallet and an owner.
3. No taxes. I have heard that some countries want to create taxes connected to bitcoin but it is only about the future.
4. Mining. With what other currency can you get some money out of nowhere? Printing money is the prerogative of the National bank and using Bitcoin you can just buy a miner, find a pool and get some 'clear' bitcoins.

The advantage of bitcoin over banks is that in bitcoin for a starter can open a bitcoin wallet anytime anywhere as long as he has internet connection and without the need of any supporting documents and age limit whereas in banks, you need supporting documents to open one and more often they need an initial deposit to open your account. Bitcoin is advantageous especially for those people who lack valid identification cards and in effect they can't open bank accounts while in bitcoin wallet they can open immediately and it doesn't even matter how many wallet they open. As what they said in bitcoin, be your own bank. Secondly, transaction fees are substantially lower compared to transacting in banks or remittance center so it would be advantageous especially for those people working abroad and regularly sending money to their families and relatives back home.

That is what i like most in bitcoin you are right with that. Low transaction fees fast and easy transactions! also i like the unstable price of bitcoin because sometimes you can earn a lot but sometimes you can earn low but that is its characteristics that it could be nice you use

Some additional advantages:
1- you can transfer money without showing your identity.
2- irreversible transactions, if someone sent money for you, he can't charge his money back like what some Paypal cheaters do.
3- your personal information remain hidden, so you will be protected against identity theft.

to me the main 4 advantage of bitocin are that bitcoin is a universal currency and is using equally everywhere in the world, second  is that bitcoin can be use for saving assets in a place place the third is that bitocin is a very very simple investment where you can make money just  by holding your  bitcoins and the 4th is that you can use bitcoin for transaction purpose also.

In my opinion, the main advantage of Bitcoin is that it can't be helicoptered, unlike fiat. Though this advantage is not without its own drawbacks, but at least you can be more or less sure that no one will be able to emit more bitcoins than is predetermined by the Bitcoin protocol. As Helicopter Ben allegedly said himself, "Bitcoin may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system"...

So, Bitcoin is a faster, more secure and more efficient payment system than the traditional banking system

All you have said are right and I think you can also add the convenient transactions with just less time that we are going to wait the payment is going to be in your receiver instantly. And the advantage I can add also is, it is making us more responsible because before we are going to send bitcoin to someone we must really check first the address.

Someone can ask that people can send money to their family with paypal too or through western union but the fees are much higher compared to bitcoin which is mostly few cents up to 30cents. Also the transactions are not instant but mostly within 30min-1hour the transactions get confirmed.

there are a lot of advantage using bitcoin, anonymous transaction, anonymous account, which is good so nobody know your wealth, fast transaction, no limit transaction, and beyond all of that bitcoin can become investment and i feel more secure using bitcoin

Bitcoin is the only currency which can't be stolen if it stored securely, you can store Bitcoin in cold storage for years and no worries about it, while fiat money might be stolen whether you use credit card or physical money, even banks accounts are not fully protected.

In my opinion, one of the biggest, glaring advantages of Bitcoin is the lack of inflation beyond reaching the 21m cap, and while it discourages investments and so it also prevents the individual from losing value they put into their work, and the purchasing power is typically on an upwards trend, meaning someone's Bitcoin becomes more "valuable" as time goes on.

There are many advantages that needs to mention but don't forget that bitcoin has disadvantages too.

One of the best "feature" that has bitcoin is the transaction fees that are much less than traditional bank transfers (local or international)

Bitcoin is less anonymous than bitcoin (not saying 100%), easy to make transcation, within an hour confirmation, you OWN it and only you can spend them.

Has bitcoin high security? Hm I am doubt in any security of bitcoin. The only places that need to have high security about bitcoin is those sites that make different operations with bitcoins, such sites as exchangers and online wallets. Those place are that places that really need high security. But unfortunately no one of them can give you 100% guarantee today.

advantage use bitcoin
1 is easy use not verified account identifity
2 not tax fee
3 low fee
4 you can grow your capital in trading
5 very fast transaction without identifity

It's not yet universal but if you are using bitcoin as physical you can use it for me bitcoin is not yet fully develope or bitcoin is still on the between of 50% yes we can send bitcoin anywhere from the world but how on those countries that aren't accepting bitcoin as of the moment?

yeah I also agree that bitcoin is a method of sending money is very nice, simple, fast and low fees, but for the moment we could not fully utilize this facility. because we are difficult to use bitcoin as a currency or payment method

i believe that in two things nothing else can compete with bitcoin:
1) security: which can be at the highest if you do it right with things like cold storage.
2) for transferring money from one place to another place on the other side of the world.

Open worldwide, it's very easy to conduct transactions like these online with no difficulty or problems like when using other wallets like PayPal.. it's also super-cheap if you compare it to bank wire or to PayPal interest profit as well.

true what you say that using bitcoin to send money is a good thing, in addition to bitcoin is very fast and simple, fee that is given is also very cheap, wherever you are you can send bitcoin to any country in a single click. I really liked this excess bitcoin

Easy, simple to use with just a single click of a button, Cheap "just a 4 cent fee per transaction". No tx restrictions and no identity information needed therefore offering the user good privacy. available worldwide and can send tx to anyone in the world.

Bitcoin is fast when it comes to international transactions, but for anything that is a shorter distance than that it is relatively slow compared to a lot of other payment methods. Credit cards, cash and PayPal all have Bitcoin beat when it comes to transaction times for domestic purchases.

Once you know what you're doing with Bitcoin, then it definitely is easy to use. The challenge is getting people to that point.

The advantages of bitcoin over traditional banks is that it has a faster way of transactions and the fees are more lower. and if the banks will feel the need then they will try to adopt bitcoin as in the future without that they will not be able to get the profit.

But searching here and there can be a bit tedious, if yo can just help in providing links to those sources and paste it here i think that will be be helpful and save time for anyone interested in knowing this.

But they are still not the same as banks that you can hold without worrying and safe.. unlike in bitcoin we dont know that bitcoin will be still alive in the future or not..

One major advantage no one seems to want to mention is that you can make some extra cash trading bitcoins due to its fluctuating price.

The transactions through banks are restricted to certain countries while if you will transact your money in bitcoins then you will not face any restrictions and you will easily send your bitcoins to any part of the world.

I bitcoin there is no boundary and no one can control you you are your own bank and you have full freedom. You can store bitcoin online, offline or in paper in form of QR codes. You cancan transact within a minute that too without much fees. There is country barrier  all you know is bitcoin is a network and everyone can use it equally.

Well, there are so many advantages of bitcoin need to be listed here. First, you can send bitcoin anonymously, no one can find out who send that or this bitcoin. Second, bitcoin is sent in the fast and convenient way without any extra fees or taxes. Bitcoin will be in your wallet after 0 confirmation. Finally, you can earn bitcoin online

Yup bitcoin holds multiple benefits and its hard to point which is the best one out of them, the best thing I love about bitcoin is that I don't have to visit banks for online remittances who charges heavily and now it can be easily done with bitcoins with least fees.

I also using bitcoin si send money worldwide like im going to have some deals with clients or etc that has low fee's and im using bitcoin wallet that based on my country to take those advantage like on withdrewing the bitcoin from fiat.

The confirmation of bitcoin are can breaking it, like you can't using bitcoin if get an urgent need and really need an amount in this time. you must spend some of your time for waiting for the bitcoin and can't get it for instantly.

The advantage of using bitcoin is you can really send bitcoins world wide and ofcourse there are minimum when you are going to send bitcoin from your family and the bitcoin system is really safe like banks system and our tradition in bitcoin is we are just using it as the currencies to trading.

People has mentioned all of the advantages of bitcoin above.
However technology behind bitcoin the blockchain is adoptable for bank system. Like a book and a recorder for the world, not only for changing the traditional of the bank system it also could use for others to. If it adopted on bank system it could reduce the need for intermediaries to validate financial transactions, also it would reduce costs and make the transaction is faster.

Yes exactly, and we can trade altcoins too that needs small amount of capital than trading bitcoin to fiat that needs much amount of capital, and the other advantages from bitcoin with trading is i can trade with arbitase strategy between markets bitcoins or altcoins.

I think the biggest advantage of bitcoin is the profit from it when we hold it for a while, and also the convenience of it when it comes to money transaction. And it makes paying money for online jobs easier because it's worldwide and it isn't limited by any banks.

In my opinion, banks won't be quite happy to delegate the authorization of financial transactions to a sort of decentralized system like that of Bitcoin. To be honest, I don't quite understand how the blockchain technology can be used in the banking sector outcompeting or supplementing existing technologies, though many people claim that it can be quite useful for banks. Could you expand more on how the blockchain can be actually used by the banks?

nope i think any currency crypto, virtual money, cash money I think it could have been stolen, depending on the security on your account yourself, if you save your fiat money in the bank and you're always careful when using atm of course it would be safe, I think it depends on each person's own, but I agree if bitcoin safe.

is it you never heard that there are people who lose their bitcoin as stolen. maybe it was their fault because of a phishing or other types, but any account to save money could have been stolen, so I hope you can be careful in saving money, including saving bitcoin

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

it's easy to be accessed wherever and whenever as long as we have internet connection; we can control our own bank, no interest at all, it's secure (as long as we use security tools), and it cannot be blocked by typing the wrong password three times.

I prefer bitcoin payment because it isneasy to set up a wallet, i don't need to queue in the bank and reveal my identity so the government won't be able to know my wealth, and then when i send huge amount of bitcoin there won't be any question asked

It's also simplier and practicaly. We do not need to pay high monthly cost, so Your amount of bitcoin would not decrease every month. bitcoin is such as an investment too, we always have a good future if own bitcoin in our walllet. there are so much advantage of using bitcoin like the anonimity, security, free from centralization and all what we need is smartphone
plus Internet Connection.

bitcoin really provide privacy for all your finances. and you take full responsibility for yours bitcoin, bitcoin has a system in which no one can control you, so if you want a confidentiality you can use bitcoin to major currencies

a lot of advantages in using bitcoin. one of which is that we can save time and energy in daily activities. using bitcoin can facilitate every transaction we do.

All of your said are the disadvantages of using the bank. but i just hate the ending of your sentences just wrong for typing a password and my account is get blocked from the bank that's so fuckin.

You know in my country, my government don't accept the bitcoin, even any crypto currency, but still my few peoples are using bitcoin and working on it, because we convert our bitcoins into USD, thats why it doesn't matter that our government accept it or like it or not.

it might be accept by government if people will proceed and keep using it and show many advantages like what our other mates provided to us, bitcoin will be adopted in due time since people always seek for good investment that will bring them good profits.

Exchanging bitcoin to fiat currency might be the important aspect at current situation, but someday we will reach a position where we need not convert bitcoin to fiat since all services and goods available to purchase through bitcoin locally, i hope that day comes sooner before the bitcoin price reaches $1000, Else usage of bitcoin locally will never happen because of the mining fees.

Till now government acceptance is not required for bitcoin usage, since its completely digital and anonymous. But government banning bitcoin will have effect on bitcoin.

I see your point, though I still think that this issue could be efficiently solved through using sidechains. A sidechain is essentially a blockchain on its own that allows bitcoins to be securely used within it but which can still be moved back to the "primary" authentic blockchain if necessary. In this way, the fees within this separate small blockchain can be significantly lowered and cancelled entirely...

Basically, it is a matter of Bitcoin adoption till these innovations become vital

You need for comparing the fees of bitcoin with the another service's fees and after it your can typewriting the result about your researching about that. and absolutely it's not true for me and the fees of bitcoin are really low comparing with the another service but i will agree if you're mentioning about the confirmation of bitcoin are preventing the spreading of bitcoin demand into the local store or environment. basically the fees of bitcoin are really low.

Being independent of our government regulation must be the very big advantage of having bitcoin in our life. In future, when everything will be available for bitcoin payments, we will be having more easier life with bitcoins regardless of government regulations. Bitcoin means freedom, the advantage you may not get anywhere else.

first of all we are here that is the main advantage .
secondly i know the best useful thing in the bitcoin is payment syatem .
as we know many no. if sites are available in the internet world which helps us to make transfer money whole about the world but at high charge abiut 8% .
but here bitcoin do the same thing with only 0.1$ ;)

The point was that if Bitcoin price surged to 4 or 5 digits fees would be significant too (obviously, in fiat terms). I don't see why you are challenging this. Did you read the post you replied to carefully? But as pointed out earlier, the negative effects of high prices (= high fees) could be circumvented by using local sidechains. Or, for example, by using an off-chain payment preprocessor for a segment of Bitcoin network before moving the off-chain transactions into the blockchain if required...

Just like Visa or Mastercard work now

Bitcoin known as it's anonymity. It's hard to trace the sender and the receiver. Bitcoin transaction is fast, you can send and receive bitcoin within short time, and you can do transaction anytime, also it has low fees than any other payment methods. Bitcoin has no tax, you control your own money.

The main advantage of Bitcoin is it's fast, it's free, and it's decentralized. The transactions don't take that much time in normal cases. The fee is almost zero, it's zero in some Bitcoin wallets. It's decentralized, meaning the government or anyone cannot control it. There's not that much effort too if you're sending Bitcoins. I don't think Bitcoin and Bank can be mixed together since banks are controlled by the government.

Bank already know the many advantages of bitcoin and they have tried to cooperate with blockchain or adopt bitcoin system but seen the deal has fail.

The advantage that Bitcoin has is that you can make some extra money with and you can save your money at the same time which makes it even better.
Those are the two reason why i make use of the Bitcoin today.

Bitcoin has lot of opportunity to earn money right from our smartphone because we have faucet and other free bitcoin earning source. Bitcoin is faster then banking system and it's half anonymous it has much more security then traditional banking system. Obviously bank could adopt the algorithm the that bitcoin usage to make a change in banking sector.

bitcoin have advantages in security and accountability. It uses blockchain technology which shares the same advantages.

Actually, I prefer to talk about the advantages in the real life. How implementatble is this in X country? how acceptable bitcoin to merchants?

One thing I like about bitcoin is, there are a lot of stuff I can buy cheaply with bitcooin.

As We All Know That Bitcoin is a Digital Currency and it Has Many Advantages and Disadvantages also But  I Am listing Below Some Advantages Of Bitcoins:-
1) Bitcoin Can Be Transferred From One Country To Any Part of the World Within a Second with No Extra Charge.....
2) No Organization Or Government Have Control Over Bitcoin and I Like this Most and No One Can Control Our Funds Without Our Permission.....

Bitcoin have lot of advantages like it can be transferred to another country without any barriers and we could avoid heavy transaction charge. Inspit of Less transaction fees it is faster as conspired to banking system.

thanks a lot guys for your awesome and most valuable answers. I am really grateful to you all. now i come to know the full list of advantages of bitcoin. now here's the compiled note from all the replies


1) Bitcoin Can Be Transferred From One Country To Any Part of the World Within a Second
2. it have very less transaction charge, almost negligible charge
3.No Organization Or Government Have Control Over Bitcoin
4. bitcoin have advantages in security and accountability.
5. It uses blockchain technology which shares the same advantages.
6. Bitcoin is  fast
7.  it's decentralized.
8. The transactions don't take that much time in normal cases.
9. There's not that much effort too if you're sending Bitcoins.
10.   Bitcoin known as it's anonymity.
11. It's hard to trace the sender and the receiver.

 still more advantages? please post here




 

This is the reasons why I prefer bitcoin than paypal, Paypal is not anonymously used, Paypal has a very high transaction fee too. Thats why I start using bitcoin cause bitcoin has many advantages than paypal. Paypal has advantages too. like many sites, Banks and shops are accepting bitcoin as their payments

The main idea I like of bitcoin is the price increase over time and consider as good investment. We happily wait for the halving to buy bitcoin and hold it. Bitcoin has many advantages as we know, fast and anonymous transaction, low fees of transaction, those reason why we like it.

There are many advantages of using bitcoins.
Let me state some of them

- Can make a transaction while being anonymous

- Can receive payments without going through banks

- Can be used to buy online stuff

- Can be used in black markets :D

You mean converting bitcoin to fiat here? Do you have a direct converter there in your place? Im surprised with the company that you may able to convert your bitcoin without some information from their client.

Here in our country, most of the options when doing withdrawing bitcoins to fiat are bank services and third party payment processor which you are not allowed to freely get the money. This is more secure to me rather than no info was needed.

I personally cannot describe any real life advantages of bitcoin as i have never used it in practical life yet because it is not yet introduced here, i have never even seen any news about it on t.v in my country nor i have heard about a place accepting it as a payment.

yes you are correct. In addition bitcoin has less charges compared to banks that has large surcharges and fines and many other fees. When you transact from one bank to other banks from one country to other countries you will suffer a loss in your balance due to fees. But thanks to bitcoin you can enjoy less and minimal transaction fees.

The largest advantage is the fees involved with bitcoin.  Lets say you want to pay someone from your bank; first you have to use your debit card or a check.  If you use a card, the buyer has no fees, but the seller gets taken for about 3% of the funds he is collecting.  If you are using bitcoin that fee would be less than .01%, depending on the transaction.  If you are using a check, you have to pay for that check.  The fees are not worth it when dealing with a bank and comparing to bitcoin.

To correctly compare the fees, we should use either bitcoins or some fiat currency. When making bank transactions we are paying the fees in fiat, provided we pay them at all, while making bitcoin transactions we are paying the miner fees in bitcoins. My point is that if Bitcoin price should grow, the miner fees may remain the same in bitcoins but will evidently grow in fiat, up to a point when this advantage turns into a disadvantage.

There are so many advantage of using bitcoin that did not said yet. If we use bitcoin, we can avoid the tax. So we do not have to pay tax to anyone becouse goverment is not controling bitcoin. also bitcoin was not just as a currency but it is such as investment too. The price is always rise rise and rise, so we can use bitcoin to be an investment too.

The irreversible feature is the best one if you ask me coz people who don't wanna be faithful or respectful, they will just reverse the money in Paypal and it's been a game for scammers.

Security is much better.
Fees are very low.
Being anonymous is also a cool feature compared to other currencies.

Easy to use and understand
Quick and can be transferred anywhere
Very less transaction fees
Very good concept and technology

LOL, if it is easy to use and understand then why are people still having a hard time learning it the first time around?

I like bitcoin for it's security and transparency.  You can check every transaction in the blockchain.  Transaction is instant though confirmation  seems lifetime LOL.  Low transaction fees,  and as in an early stage, earning potential is very attractive.

It is obviously easy to use once you get it but it is not easy to understand i feel too, because the technology of bitcoin is quite complicated for those who comes newly into it or for the ones who have never been involved with this kind of technologies.
Other advantages of it are low fees, good security and a lot more.

You are definitely correct, Aside from that bitcoin is very easy to use even a newbie in this sites can easily understand what bitcoin is all about. I am also one of the bitcoin enthusiast who loved anonymity. So for me there are 3 things only why it is very advantage to any other digital currency, 1st very safe@secured, 2nd transaction charge is too low, and very fast/quick.

I think the advantage of bitcoin:
1. The cost of freedom, allows you to send and receive money instantly anytime and anywhere. There is no bank holiday. There are no national boundaries. No restrictions are imposed. Bitcoin gives users full control over their money.
 
2. The cost is very low., Payment Bitcoin is currently processed at no cost or at a very low cost. Users can enter the costs in the transaction to acquire the processing priority, so it gets faster transaction confirmation by the network.

3. Low risk for the seller, Bitcoin transactions are very secure, can not be undone, and do not contain any personal or sensitive information from customers.

4. Security and control, Bitcoin Users have full control over their transactions; it is impossible for the seller to make unwanted bills or considered as can happen with other payment methods.

5. Transparent and neutral, all information related to the supply of money Bitcoin has been provided in the chain-block for anyone who wants to verify or to use it in real time. No individual or organization can control or manipulate the Bitcoin protocol because it is very secure cryptographically.

Paypal do  have    really some    advantage  compared to  bitcoin  because  its being regulated and legal  thus  we could somehow  assure some  security regarding  on  legit transactions because  you would really able to  know  to whom are you  transacting with  but the  problem  here is   on its fees  which  would really   charge you  high and   somehow frustrating  in using their  service that's  why  bitcoin have  lots   of  advantages  over  it, fees, transfer times, anonymity, accessibility, more security.

Hey good answer bro, bitcoin is the independent platform where we can make payment and act as payment. Anonymous around the transactions,  less fees when compared to any other medium like PayPal or Wu. Transfer with low fees around international transactions.

you can send and receive money easily and it only took a few minutes to finish the confirmation , it is more convenient because you don't have to go and remit your money from bank or remittance center and the transaction fee is much cheaper than other .

I think for the excess of bitcoin like this, it looks like bitcoin also has many competitors, this time almost all the money delivery method have instant facility, you can use paypal, perfect money, banks, and so forth, they all send money instantly, but some of the differences is a fee of bitcoin cheaper

You're right if the payapal are having some advantages rather than bitcoin but in comparing the paypal fees and with the bitcoin fees, we will need for remember again if bitcoin are not company and for we know if bitcoin are not having a lot of workers like a paypal and that's why the fees are soo high caused by the operation fees of paypal are so high too.

Another difference is that it's actually in your advantage when you're using bitcoin. People cannot mysteriously dispute their payment unlike in those payment websites. Those website has rules and regulations to follow. Those rules and regulations are mostly abused by scammers. In bitcoin, no one cares if people scam each other. There's no 'dispute' button and that's it. Your safety would depend on you if you're going to let yourself tricked by a stranger on the Internet.

From your words it follows that the "no 'dispute' button" would mostly favor scammers. Just like they abuse "those rules and regulations", they would equally well "abuse" the lack of any rules or regulations. In other words, abusing has officially become part of the system thanks to no rules and regulations.

If 120,000 bitcoins get stolen, you have to bite on the bullet, right?

Yeah quite sure dude, bitcoin has a very cheaper transactions fees rather than other such as bank even paypal. But sometimes the transaction of bitcoin have a little problem. Sometimes the transaction of bitcoin pending untill more than one hour. It is very annoying for people that can not become patient.

There are many advantages that can be obtained bitcoin. To profit from bitcoin is very easy because there are many, many ways like a signature campaign, trade, services. In addition a very low cost and given the freedom to organize is also the advantage of bitcoin. So bitcoin so could give us an advantage, in addition to the low cost and freedom, including the advantages of using bitcoin.

Quite a few to name -

1) Easy to operate and understand
2) Quick and can be send across globe
3) Low transaction fee
4) It is pseudonymous and avoids other establishment
5) Being there for now 6-7 years and doing well.

I think for the beginning user would use bitcoin quite difficult because you have to have a wallet, and other sbeagainya, but if you are familiar with the use bitcoin bitcoin will be very easy and simple

But you can be messed up at any time within bitcoin because on one cares to limit or ban you and your account at any time Paypal wish without giving you even a single warning. Though all methods of payment have their advantages and disadvantages but the disadvantages associated with paypal are really numerous

Yes, there are times when the transaction maybe pending for more than one hour but if you include enough fees definitely your transaction will be picked up in very next block itself. But, sometimes blocks itself being generated with big gaps, we do not have immediate solutions to them as of now.

i think there are also so many other advantages of bitcoin like it is helpful in making and increasing the value of your bitcoins if the price goes up. you can also invest it in other alt coins and can make good profit you can even use it for online shopping and now you can also use it for shopping in your local shopping without changing into fiat currency.

Bitcoin has a lot advantages . For me ? I can sent money to someone with bitcoin easily and i can invest for my future and i can use exchange of bitcoin and i can buy something with bitcoin and i can earn money with gambing those things are advantages of bitcoin for me  .

At present, bitcoin is the most secure currency in the world which is managed by the Blockchain system and miners. And not only that, people can easily send bitcoin abroad within a second, and after only a few confirmations, Bitcoin is in your wallet. An another advantage of bitcoin is that the government is not controlling it.

Yes The goverment not controling, it is mean that we do not pay tax of our bitcoin. also If we put our money in bank, they will take a charge for our money and Monthly cost too.  saving Money in bitcoin is becone good investment too becouse the price of bitcoin is always rise. it Will help people who do not have a chance for make an investment which need great financial capital. so They can make investment only with less than $10 in trading bitcoin so they can grow their money there.

There are lots of advantages of Bitcoin. Find the pros below.

1.No Transaction Costs

2.  No Third-Party Seizure
3. No Risk of “Charge-backs”
4. BTC Cannot be Stolen

5. No Taxes

The advantage is that Bitcoin is anonymous and the transactions are easily completed with very very low fees: you can go for 10k satoshis which is just a few cents even when transactioning millions! The disadvantage is that it's not popular right now at all.

yeah you can make a transaction with minimal fee as low as 10k satoshi but if you are going to transact a millions USD worth of bitcoin then you will face the slow confirmation because your fees were too low,just use proper fees,even if you set fee to 0.01 but if you are transacting such a big money like $10,000 then it will worth it,just compare with paypal who is going to took 3% of the money

I agree with this which is to me the most important advantage over any other one in the sense that I can transact with needing to submit one valid form of identification or the other. Another one that I also hold dear of the advantages Bitcoin possesses is the issue trans-border free flow of transaction with seamless effort and limited time lag. Coupled with the the low transaction cost involved in sending transactions among other advantages...

Bitcoin is fast. I can send people worldwide some money and it would arrive almost instantaneously or until a block is mined. Also anybody can get into it,there's not really an age restriction and you don't need a oasssoort or anything to start.

It seems a little bit hard.  Okay, one advantage is that you can transfer anywhere you want with less fee to no fees at all and without hassle.  Another one is that there is no need for a lot of information to do transactions because it only requires you to enter the btc address.  Then I think it is more secure because you do not really have to hold actual money, you do not need to give any information.

I think the bank could adopt some feature of bitcoin but it will take time and a lot of research and studies I guess.

By sending coins with less or no fees at all you are putting yourself at the miners' mercy, and since miners are there mostly for profit, you shouldn't expect them to include your transaction without a fee right in the next block found. I've seen miners ignoring transactions even with fees and blocks containing only a few or even just one transaction, so they were intentionally discarding low or no fee transactions. Regarding adopting some bitcoin features by the banks, there is nothing conceptually new in Bitcoin apart from the blockchain which doesn't seem to interest them much...

And if banks do follow the Bitcoin lead (this is a big if, really), that would be mostly thanks to competition

Bitcoin is fast depends on your fee.. base in my experience right now we have a set a fee according to electrum that i test if you set low fee or 25 within 2 block it takes more hours to receive unlike max fee it takes few minutes for me to receive but we know it always depends on miners if they confirm it or not. .

The point about restriction is actually really a great advantage as what i think, because if a young guy who does not have a National ID or anything like that which makes you able to open bank accounts and all, they can use bitcoin without any hesitation like how i am using it, i still don't have a national identity card but i still earn money and use them because of bitcoin.

For me the bigest advantage of Bitcoin is that I'm not depending on the bank. I realy don't like banks. Unfortunately stil there is some need for them and their services but hope that in the future I will use less and less their services.
The other greate advantage is that has now boundaries and it could be used anywhere in the world and great deal of anonimity when you use it.

You can transfer your money fast and cheap it is the most important thing i think and also it is international which means you can send bitcoin from pakistan to london for instance it is a special property too.

If you you use payment processors like Amazon Payments or PayPal then your money will be delivered very fast, instantaneously even.
In most cases faster than bitcoin, considering that bitcoin network is sometimes stuck with large number of unconfirmed transactions.
Same with fees - these service won't collect any fee for sending money to your friends, family and to buy something from eBay, Amazon, Steam or any kind of online service.
So please don't use argument that bitcoin transactions are fast as something exclusive for bitcoin. It is not something outstanding anymore.
With bitcoin you OWN the money, your account can't be frozen, payment reversed or checked if your transaction is 100% legal according to ToS of some service.

it is also the reason I use bitcoin. I stayed in the Asia Pacific, and I often shop at American countries. prices there are very cheap compared to my stay now. I love to shop with bitcoin. fast and also cheap cost fee.

1) bitcoin is not run by a government, bank, or business
2) bitcoin can be sent anywhere almost instantly
3) bitcoin is semi-anonymous
4) you can store your money as bitcoin safely
5) the fees are very low
6) bitcoin is deflationary

This is absolutely true i agree with the advantages of bitcoin, no government involved it is independent and has its own stand in terms of money security.
Online transaction is really convenience to everyone who use bitcoin, its hastle free all you need is a wallet. Choosing your money to transact though wallet online is safe for your money which i am still using nowadays.

Yes I am agree. Bitcoin have so many advantage but for the advantage that make me interested in bitcoin the price that always rise. It is mean that bitcoin is not only such a curren cy but it also a really good investment for me. I do not have huge amount of money to create  my own business. But bitcoin was solve my problem. I can get second resources in bitcoin.

since many of advantage of bitcoin but the main part of Profit and beauty is that we can trade with it and can get morr profit and with price increase we get more Profit .
second the most of the best profit is its privacy . we can make transactions with privacy , no one can get our details whether we have made transaction .

and i think for the price, if we compare between using money and bitcoin, i think its more cheap when we using bitcoin to buy something rather than we using real money or credit card or paypal account. i already make compare this when i want to buy electricity voucher and prepaid card voucher and i see there is a big difference when we using bitcoin to pay the amount. i am glad that i can buy it with bitcoin and i just scanning the barcode to sending the payment.

Paypal is expensive. Using cash you usually don't pay any fees. Bank cards, on the hand, are not born equal. With a credit card you may need to pay interest, though there may be grace periods when you are basically using the bank money free of charge. And with bank cards in general you may get hefty rebates, so I wouldn't say that Bitcoin transactions are always cheaper, especially if you are paying with bitcoins for your daily needs. Which is not a good idea, either, as for me.

As you mentioned this is a really great advantage of bitcoin to transfer funds from a country to another without any problems and hesitations and they will receive the money in minutes, and then they can use if for anything they want, whether it is shopping or exchanging to fiat etc.

People are still stubbornly claiming that Bitcoin can't exist without fiat, say, the US dollar (even when confronted with the irresistible evidence to the contrary), so what do you expect of them? On the other hand, fiat payments which appear to be instant are instant only because the payment processors are centralized, and there is little to no risk of money being double spent. If we take Coinbase, for example, transfers within this system are also instantaneous...

So it is a moot point really

You're right, we can transfer bitcoin easily between countries. No charges were great and very easy to just minutes. It was indeed one of the advantages of bitcoin. There are a lot of ease and benefits of using bitcoin that we can get.

One of the advantage of bitcoin for me is its fast transaction with a low fees. That's why we can send and share our bitcoin to our loved ones wherever they are.
As a matter of fact, I use bitcoin sometimes as a physical money like fiat to shop online.
That's the reason why I love bitcoin. It is so useful!

It is indeed true and will always be its own characteristic of bitcoin. In addition to the low cost and fast transaction also as a Bank, we can benefit simply by storing the bitcoin or buy low price while bitcoin and save it after it was sold when the price is high. These are not owned by other currencies, so I am sure that bitcoin is going to have a good future and outstanding

Bitcoin is returning the power of the money back to the people, as the begining, after banks appear and countries get their rules, people exchange anything without any tax or fee between those transaction, bitcoin does charge a small fee if we do see the current fiat system.
Bitcoins give me freedom, to use and invest my bitcoins where i do wanna without ask for permission from the bank.

 ???
What about use paper money?

So you don't need banks... If it's your money, you don't have to ask for permission btw.

There are many advantages
when you use bitcoin.
One of the advantages
is you can easily send money
to other people.

the main advantage in my opinion is to exchange the currency worldwide with the help of bitcoin . i mean we convert our local currency into bitcoin and then btc is changed into desired currency at only 1-2% charge .
so it ia better for worldwide payment in any currency .

Bitcoin low fee is one of the best advantage that make people come and learn then use bitcoin. People know that bitcoin is better than fiat that they already used. No goverment control can make the users can earn bitcoin as much as they can and do not worry about the tax.

Your so called freedom will disappear when new rules and regulations are implemented by the government regarding bitcoin ,since this is a new innovation it will take some time for the people behind the law to understand what this is and formulate a law regarding it,so consider this as a honeymoon period ,there will be a time when everything will be regulated just like fiat ,you have to start paying your tax when your government recognize crypto currency as asset :)

Yes there is freedom of using money the way we want. No one can stop from using our money because there is no one to say why are you sending bitcoin to him, why are you sending such a huge amount, how much money do you have, and such

This is one of the advantage of bitcoin and out of sending the bitcoin to other person, the transaction fees are very cheap so it makes it better to use.

And bitcoin itself is a currency and you don't have to think about of exchanging it to dollars as there are a lot of bitcoins exchangers are available anytime.

With automatic transactions.

Yes bitcoin advantage is that we are free to manage our money with our own accord as desired. There is no limit for us to be able to manage bitcoin so that we can use it freely. In bitcoin I think is also very easy to get an advantage because there are many ways that can make us earn well. There are many advantages bitcoin and it is very profitable.

Its impossible to point out a single advantage of bitcoin as it holds multiply advantages and it is also helping us in many ways and the best thing I like about bitcoin is that you can send money across the globe with just a  click of a mouse and with the least fees and the transactions are available 24/7.

As the above mate quoted bitcoin gives most users the access of transaction 24/7. Another important factor is that bitcoin as a digital form of currency gives its users the earning possibilities and transaction can be made in less time and on holidays on which banking transaction were not possible.

Yes true it is one of the advantages of bitcoin. We can send money easily and with minimal transaction fees.

Maybe bitcoin will be among countries payment transactions and widely used for international transactions.

Fast transactions, no "few buainess day" for transaction to succeed, easy storaged, no need to fight with spare change in your pockets :D, low, low fees, wletc.. There are many advantages of bitcoin, and with everyday those advantages are improved.

Yup there are no "bank holidays" in bitcoin transactions and you can send or receive money whenever you want and even if its a bank holiday its possible to transfer your bitcoins to your bank account via online transactions so that is the best thing about bitcoins.

The advantage of bitcoin are more convenient to use than fiat in terms of sending and receiving. Its anonymous transaction which will prevent thieves watching your account. Less fees than banks. And anyone regardless of age can use it as long as you know.

Bitcon can be invesment because the price of bitcoin always rise against viat and never gonna down .bitcoin did not have a tax because the goverment can not trace user .and bitcoin is anonimously.and bitcoin have a lower fee than bank. So it's have much advantages.

that's right no holiday and the fee really not that big, btc is really anonymous enjoying this feature will attract more and more investors.

That seems to be a legit point. Banks leave much to be desired in this aspect. If Bitcoin payments kick off for real in the future as well as other alternative payments that totally exclude banks, the ensuing competition will probably make the banks more agile, nimble, and overall appeasing. They seem to be too lazy by today's Internet standards, and if they don't want to get kicked out of business eventually, they gotta fully embrace the 24/7 approach, the sooner, the better, lol.

I'm still a newbie in Bitcoin but from what i learned so far it has potential that would be beneficial in this world. it helps people from all around the world to pay in an instant. transactions would be easy and reliable. and is transparent.

I'm still learning though.

The best advantage of bitcoin is being able to move unlimited amount of money overseas. Good luck trying to find any other way but bitcoin, because there isn't any other viable way.

to me bitcoin has so many advantages some them are that we can use bitcoin as currency for shopping online or even in our local shops, we can use it for trading and for investment also.  we can also use it for transferring funds.

so much advantages of bitcoin
bitcoin is good investment
bitcoin is freedom because bitcoin can be used when anytime we need money
bitcoin is fast transaction

The advantage that i know about Bitcoins are:

- You don't have to pay for tax using it.
- Transactions are almost instant , Some site you can instant use your deposit if it has already 1 confirmation the rest it needs full confirmation before you can use it.
- Using Bitcoin you are anonymous.
-and many more.

There are many advantages of bitcoin. Easy to use, easy to understand
the process of bitcoin. Fast transcation, less fee, hassle free, and can
earn bitcoin. Hassle free in terms of paying bills online, buying and
selling bitcoin. These are the things that gives benefits to users of bitcoin.

For me the main advantage is the possibility to send packs of 10000 satoshi to my members...
this would be almost impossible with other ecurrencies because the fees would almost  be higher than the pack...

Exactly, in bitcoin you will only pay a lesser charge regardless of your number of transactions. And it's fast.

Yes, that's right it's a lot easier with bitcoin when it comes to overseas transactions. It doesn't cost much fees like for real money and just with a click of a button and the money is transferred.

Well Bitcoin's price appreciation is better than any bank's interest rate on it's saving also if you did it right you can make money in holding bitcoin rather than saving your money in a bank. Also it is impossible right now for a bank to accept bitcoin as bitcoin is currently volatile and what I think are  people will prefer to loan out fiat money rather than a volatile currency which is more practical.

but with bitcoin you can save your time by going to some remittance center just to send money and you don't have to pill up some forms just to process your transaction . you can send money faster and cheaper, we can also pay our bills .

And with xapo wallet I pay nowadays 0 fees...

There are Many Advantages Of Bitcoin that are as Follows:-
1)Bitcoin can Be Transact Globally Even From One Country to Another Country Very Faster and With Very Low Fees and No Paper Work is Required Make a Payment By Bitcoins........
2) And Bitcoin is Better than Bank Savings Account and If You Hold Bitcoin and After Some Time You Get More Interest as Compare to Bank Account But You Have to Do Patience......

Yes you are right. I have made some deposit on banks and after 10 years I only earn some cents. Well bitcoin has showed me new way to look at savings. My bitcoin savings has grown in huge amount and has doubled in one year. And up to now I have more bitcoin on my wallet rather than deposits on my account. More power to bitcoin, there are more advantages to bitcoin than you can imagine.

Bank investment for me is not a worth investment. You will earn only a few bucks when you invested your money for years. It is better to invest on other currency exchange than investing it to the bank.
Even bank has a good security it doesnt make bank a good investment tho

I read a lot of replies from this thread and the most of it are all for earning money.

Less with making use of it through sending their money to their love ones and relatives and even for work, or using it as a means of currency to buy some goods or games.  :'(

But with banks there is at least the certainty that the money will not decline.
With crypto this certainty is not given. Of course, here we all have the hope on a growing bitcoin price, but it's just a hope. There is as well the possibility of loss.
Some people just want to make sure the amount of dollars they own now will be about the same in in the next few years. For those security is something they would never give up.

yeah there are even many other advantages that you do not know, bitcoin has many advantages you can use bitcoin for anything, I can even use bitcoin for my job?

Bitcoin is game changer for me because of its simplicity and bunch advantages. But with bank account i fear of get hacked and other problems but with bitcoin there is no such problems. I could use it anonymous and with faster speed and with less transaction.

How do a bank get hacked? I think they don't will make you lose your money since you paid some taxes to banks so when some shit happen, they can cover it instead of bitcoin exchanges that will never cover your loses.

Bitcoin still haveso many advantage. We do not have to compare bitcoin with bank becouse both are different. Bitcoin is a currency but bank is a corporation wich save our money ( currency ), bank give us guarantee of security but we have to pay monthly cost. But bitcoin is a good currency and an investment becouse the price is always rise.

Using bitcoin in any kind of transaction is completely anonymous and it is the one of the advantages of bitcoin. This is the most reason why people are using bitcoin, because they can freely do whatever they want because they are anonymous in virtual world, some of them are using bitcoin to buy those illegal stuff like drugs and so on. Bitcoin is also fast when it comes on buying stuff online, this is another reason why people do love bitcoin, because it can be easily process and transact in the virtual world without any hassle.

The biggest advantage in my opinion is to not have to worry about skimmers etc. I never walk around with more than $100 on my debit account.

If bitcoins were accepted by a majority of stores, I would gladly skip down the streets with 100+ bitcoins in my paper wallet  :D

The main advantage is anonymity so no one can see the details of parties involved in the transaction even though all the details of transactions are public. Another advantage is speed and no third party interference so bitcoin transactions are safe and fast as compared to traditional banking system, we don’t have to depend on third parties like banks in order to make any transaction and last but not least is cheaper fees when it comes to international transfers.

Another advantage from bitcoin which I can cite in my opinion is that it gives us opportunity to earn. From signature campaign,to cryptocurrency trading. It amazed me with this kind of earning online where I can easily transfer to my local wallet and exchange to local currency.

as i am living in a backward hilly area. in my area a few people were know about bitcoin, but now when the number of bitcoin users is increasing in my area, therefore it is becoming more advantageous for me. now i can refill my mobile credit using bitcoin, and hope that very soon we will be able to do shopping using bitcoin.

WE are on the same situation too on where there are only a few poeple  only  knew about bitcoin in my place but as the time goes  by the  adoption really  increases.  Bitcoin  have  many advantages  compared to traditional ways  of  banking system. Less hassle and  lower transaction fees and thats  what  i  love with bitcoin.

Very true. Those reasons should be lifted up. Yes we know as bitcoin as an earning way also and it might get some attraction with users but let us not forget the true reasons behind it.

You may ask your close friends about Bitcoin and whether they actually use it, or they may tell you themselves just like you yourself can make a clean breast of being a Bitcoin supporter. But would you tell a stranger or even a nodding acquaintance whom you encounter in church on Sunday mornings about that? I wouldn't, and I think most wouldn't either. My point is that you can't be sure that people around you didn't really hear about Bitcoin or don't use it for the simple reason they may not want to elaborate on this, and you won't be able to find out.

People may or may not be aware about bitcoins and we cannot judge whether they are using it or not as many people prefer not to disclose the fact that they are using bitcoins but if they are aware about bitcoins then its very hard to keep yourself away from it.

I think at least bitcoin provides higher security you if you save your money in bitcoin, you will be protected from theft (if you have a wallet and authentication) spared, and surely you will find the freedom to use your money in bitcoin, and you will not find this in the bank whichever

Bitcoin have many advantages than other traditional currency systems.
In bitcoin exchange, there is no third party occurrence, and the ultimate advantage is very fast transaction with a low amount of fees.
before a decade it was not at all possible to make a transaction like this.

And when it comes to security systems, no one can steal your assets unless you publicly share your wallet address.
No taxation, Low transaction costs because of decentralization.

Traditional banks have full control over our money and most of the banks use our money to give out loan and earn big profit while only sharing really small amount with us. As well as banks are vulnerable towards hack, robbery, manipulation, system malfunction which can make us unable to access our funds where as with bitcoin we have full control of our money and we can use it whenever we want and as being decentralized network bitcoin network can't be down for even a second.

Bank hacks and robberies as well as entire system malfunction don't really matter in a centralized banking environment. Disputed or faulty transactions can be reversed within days, and your deposits are insured from being stolen. With payment card providers like Visa or MasterCard you can even request a chargeback if you feel you have been cheated by a fraudulent vendor. But with Bitcoin, if you just send your bitcoins to a wrong address, your money is gone for good, and all you can do is humbly accept the loss and bite the bullet.

And now you can also get debit cards with bitcoins, I am not naming any particular ones because then I would be liable if they scam or something. The best part that I feel with bitcoins is that I can transfer 100$ to anyone without even my parents sitting near to me, while with paypal I will need some ID proofs and all to make a account.

Here are the advantages of bitcoin over a banking system.

-Decentralized, Bitcoin isnt owned by a third party, you are always in control of your funds.
-Fairly anonymous
-Extremely secure
-Open 24/7, no delays in transactions
-Lower fees compared to e-transfers

I heard they started to ask verification now. I was wondering why a wallet provider will provide fees from his side but anyways now they have opened up. if fees is a issue for you, use directbet's casino wallet it charges no fees plus is very secure too.

Yes, we can even spend the fees according to our need, which other currency allows such facilities ? I mean we know that the transaction is needed to confirm fast the we pay 0.0002 and if we think no hurry then we can pay 0.00002 , I have in my life never seen anything so flexible and controlled by users.

A lot of the mitigation of fees comes down to the natural inflation of Bitcoin (so far) and the lack of middlemen beyond miners within the network. If there were more people involved with making everything move, then you could expect for the fees to be considerably higher than they are now.

I like those advantages of bitcoin especially the lower fees. Because if you have someone or a relative that lives offshore.

And you are sick of bank transfer services or using a money transfer because of their very somehow expensive fees.

Bitcoin is the best choice for it, just try to convert it first.

You can see my post about this.... https://bitcointalk.org/index.php?topic=1672981.msg16798468#msg16798468

yes and it has so many other advantages too, to me the main advantage is that it is decentralize currency and can be use any where in the world have same value. you do not need to convert your fiat in to another currency, where you want to do shopping,

please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.

There are lots of advantages of BTC. One thing I Like the most of BTC, in case of BTC I feel more safety than doing transaction on Bank system

Bitcoin is very different from a traditional bank, and bitcoin system does not adapt to the banking system in my opinion. There are many advantages of bitcoin that we can use. As low transaction costs, it would make us less burdened by fees or other pieces. In addition we can manage with free bitcoin wallet. I guess for bitcoin system does not adapt to the banking system, because I think bitcoin system differs from traditional bank. Bitcoin is more than just to save money, but could be used for investment with the will and our freedom.

There are so many advantages of using bitcoins
-firstly if the  price of bitcoins goes down u can buy them a lot for the future
-secondly when the price of bitcoins goes up to its peak level then u could sell them , u see profit  and profit .no loss at all
-bitcoins are used as currency in different parts of the world ..if u search the net u can get them all ..
kudoos :)

Most of real advantages was said but to sum it I will say that:
-Fast transactions. Some people say that Bitcoin's transactions are slow but I disagree. My trasactions usually take less than a minute.

- No taxes. I have heard that some countries want to create taxes connected to bitcoin but it is only about the future.
- Mining. With what other currency can you get some money out of nowhere? Printing money is the prerogative of the National bank and using Bitcoin you can just buy a miner, find a pool and get some 'clear' bitcoins.
- Anonymity. Yes, you need to have a wallet and it is possible to see transactions of any wallet but still there is no direct connection between a wallet and an owner.
- Smart Contracts

Yes that is also a good advantage but unfortunately there are no merchants in my town who accept bitcoin as a payment option so I cannot make offline purchase using bitcoin as of now. I am sure this picture is going to change in next 5 years and most of the major merchants will start accepting bitcoin for day to day transactions.

a lot of advantages offered by the bitcoin. The most interesting thing for me is a remittance transactions very fast.
bitcoin offers the ease and speed. I really like bitcoin.

anonymous power, i mean i can buy things without rendering information like paypal needed on names, address

Common advantage of bitcoin is that there are either no fees, or very low fees within payments using Bitcoin. To speed up the process of transaction, user may choose to include fees for it to happen. The higher the fee, the more priority it gets and the quicker it gets processed. By the way, with Bitcoin it is very possible to be able to get and receive  money anywhere in the world anytime.

This is only some of the advantages of bitcoin.  Bitcoin is also secured, unlike Credit cards and Visa Cards that is prone to hacking and phishing and if the company you deal with have a hidden intention on getting your credit cards number and secret pin,  transacting with bitcoin is safer because they can never do such thing with bitcoin.

Yeah right this is different from before right now we have a choice for the fees for priority purposes if we want to receive it fast just increase the fee and i think it is more cheap fee than other payment proccesor. and it is easy to use unlike other that needs to verify first or real information before you can use..

Yeah true also the decentralization makes us feel that we own the currency. Added to this there are much more features like transparent yet secure transactions, easy to spend and accept. Ability to track different payment from different people. How much have you sent overseas by the way :P ?

fast transactions, low fees and anonimous (certain people love this part the best) and you've got the whole blockchain updated with every transaction that happened, yeah.

- Fast payments around the world
- Low Fees compared with services like paypal,banks ect.
- In the most part is anonymous
- Secure if you know what are you doing.
- Helps poor countries to figth with the inflation.

For me bitcoin and other coins can be used for trading use arbitase strategy between one market and other markets and i can make profit without doing analysis tecnical or fundamental, it is one of many advantages bitcoin and trading bitcoin is more good than stocks or forex trading.

Bitcoin is something new in the world and there are no like this before, it is easy, simple and can be used just on smartphone and i like it than fiat money that need pocket and can be thiefed on the road.

Honestly anonymity it doesn't help but because of gambling activity many gamblers or people are want to gamble using bitcoin because of anonymity for me either bitcoin is not anonymity i will still want to use and it is more advantage because its more people can be trust bitcoin and use it than using paypal.. if it will happen in the future..

The advantages of bitcoin you can do work to earn bitcoin, to spend, to transfer and to transact online even we are in our house and also we can entertain our selves in some methods of earning of bitcoin.

The advantage base on my experience is I am able to use it in gambling with ease. I usually do not transfer money pretty often but I do gamble most of the time, having fun in the internet is something that can give you a big satisfaction.

Bitcoin is very convenient to used for the bitcoin enthusiast, also the best when it comes to charge transaction it is very low fees of charge, and lastly very safe and secured.

There is a different advantages to all users of bitcoin it depends on the way of uses of each users in bitcoin, for me the advantage is i can pay my bills even i am at home and many more.

Yes and the other advantages of bitcoins will become new style of currency and will become new method for payment gateway on every people who shopping activity, although will make long time up to people adopt bitcoins on real transaction.

It's safe, quick, and reliable. I can send money to someone in China right now, within a couple of seconds. The transaction fee is also really insignificant and there isn't this centralized government which all of the BTC cycles through.

The biggest advantage now and in the future, in my opinion, is nascent technology around the Bitcoin.

Actually the first point you said : shopping is actually not yet fulfilled completely.
I really want to see some shops that accept bitcoins as a payment option, while I am not planning to open up my own shop for this but if I will be getting the chances of some crowdfunding being done I will surely take part in it :)

we still needed to use third party to make some shopping just hoping to see a certain website that will cater direct
transaction and fill in our needs for online shopping quality good products.

For sure bitcoin doesnt do well with bank system, the advantage of using bitcoin over traditional bank is a lot, bitcoin can be used not only for currency but also an investment, the transaction between two party using bitcoin is anonymous and it is easier to set up a wallet than bank account and transferring huge amount using bitcoin wont be a problem

Here are some of my points
1) bitcoin is easy to operate but quit complicated for dumb guys
2) it's  quick and can send bitcoin across world
3. It's transaction fee is too low
4) It is pseudonymous and avoids other establishment
5) Being there for now 6-7 years and doing well and already in a position to get international currency

i think bitcoin give equal advantage to all its users, as you can use bitcoin for investment, and can make good profit , you can also use bitcoin as currency you can even do online shopping using bitcoin, bitcoin is also helpful in transaction of money from pne place to another.

The best part about it is that you do not have someone looking over your account and determining what can and can not be done.  I was doing a business deal the other deal for 150k and my bank blocked the incoming transaction because they said it is a risky business for them.  How is it risky for them, it was my money being transferred in from my Bank of America account to my personal account with them so I could write a cashiers check to purchase a car.  The closest bank of america bank branch was 3 hours away from me at that time, so the wire transfer was the easiest way and they blocked the transaction.  They can not control bitcoin.

The best thing about bitcoin is that you can transfer money across the globe with just a mouse click and with minimum fees and there are no public holidays in bitcoin transactions and its available 24/7 and for the same  reason majority of people are attracted towards bitcoins as it gives us rid from the banking system and other payment methods which involves huge fees.

That is right, Bitcoin gives as freedom to send and receives bitcoin around the world and it only charges small fee. One of the other advantages of bitcoin is the security because in bitcoin you can send and receives bitcoin without risking your identity and also bitcoin can be use to as a secondary source of income which can help us financially.

Yeah and its very hard to point out a single advantage of bitcoins as there are multiple advantages attached with it,  money transfers is one of them and most of the people are using bitcoins only because they can gamble easily without disclosing their identity and any involvement from third party.

Yeah people have different IQ, bitcoin fee lower than credit card fee, after new president of america has choosed it will affect bitcoin price. It is mean that bitcoin is good for currency or investment.

I agree!bitcoins is very convenient to use. One of the major advantage that i want in using bitcoins was It cannot be traced. This is another advantage of Bitcoin. Once the seller gets the money, it cannot go back to the buyer by any means. This is important because no government can trace the source of your funds.bitcoins transaction are quick and easy. Bitcoin is portable: With the current major currencies, it is difficult to carry around large amounts of money. Cash amounting to millions is risky to carry for several reasons, which is why Bitcoin investors prefer it to other currencies. With Bitcoin, you can easily carry around a million dollars worth of Bitcoin in a memory card.

There are so many advantages of bitcoin one of my best is the lower fee of transactions and you can read also some those here https://bitcoin.org/en/faq#what-are-the-advantages-of-bitcoin

I don't think if bitcoin is adoptable for bank system as what I know bitcoin is already your own bank , but I heard some news that some country's bank want to use blockchain system.

It can be adopted for a banking system and the news that you are referring is all about the news about Switzerland's Central Bank that is planning to accept bitcoin. You can just refer and redirected to this thread : https://bitcointalk.org/index.php?topic=1685326.0;all but if this happens the only advantage of bitcoin will get through it is popularity and adoption. But for us, users of bitcoin this is not a good one because bank will know our transactions and identities.

I don't think that would be a big deal

If you don't love banks and are not going to use their Bitcoin services, which they might start to offer, you can still transact directly. Many if not most users don't particularly care if banks will know their identities since they are most likely already using this or that bank for making online payments as well as sending and receiving money (say, wages). I don't think either that banks would require some extraordinary personal info (e.g. your private videos) that they don't require already, for example, when you open a bank account. So what's the difference really?

That is actually one of the biggest advantages of bitcoin, before bitcoin people used to be worried about sending money to someone to another country as they would have to pay a lot of fees etc for that but now with bitcoin you can send them easily in minutes without any big fees.

to me, the simple fact that i'm in control of my money is enough.
being depend of banks really sucks, i've already had some problems before with this(had money in my account but couldn't expend because the bank messed up things).

When it comes to bitcoin there are many advantages but the best one are that bitcoin has no fees when transfer sending and receiving bitcoin is faster unlike other currency and when it comes to security bitcoin is much safer to use than the other bank accounts since one's bitcoin address keeps changing over time plus bitcoin wallets is much easier to use than credit cards

Whoever told you that lied to you right in the face

Bitcoin does have fees, and ironically they might become a real pain in the ass in the near future. The root of the problem is that the fees are paid in bitcoins as well, which should be expected, right? So if Bitcoin price goes vertically up, the fees in fiat terms are set to increase as much, at least short term, until this issue get fixed somehow (if ever). In this way, one of Bitcoin's main advantages (i.e. low fees) may ironically turn into its greatest disadvantages eventually

Maybe he is using online wallet like coinbase xapo or local wallet those online wallet has no fee..
The wallet that i'm use is electrum so i need to pay for fee for transaction maybe he not do not know the other wallet.
But i think it can be also the advantage because they are not asking for fee for every transaction and it is also risky because those wallet is online..

There are actually a lot of advantages on using bitcoin. First things first, it removes the geophysical boundaries in between areas just for purchasing goods, as good as credit card or online payment system but better in terms of fees. The next one would be you are your own bank: no one controls your money but you and only you alone. The last that I could think of right now is its transparency; every transaction made in the network can be viewed by anyone in a decentralized ledger that does not remove transactions once they are displayed in there.

Fiat money instead of increasing in value overtime is crippled by inflation, unlike the the investment opportunity that bitcoin also presents to its holders. As a matter of fact, one of the ways of making money nowadays in the financial market is, to simply buy and hold bitcoin, hopefully its price does go up, bringing profit to the holders,

With the fiats, these days, the government prints money with rakeless abandon, to cover up for the ever depreciation in value but not so with bitcoin, which already is capped by nature and thus adding value to it as a scarce commodity.

advantages of bitcoin? well there are many of them! actually it a case to case basis or it depends on every persons understanding about bitcoin and how they can benefit from it.

for me, the best advantage if bitcoin is its anonimity. in transacting, you are not require to divulge your identity. in short, your personal informations are safe.

regards.

One big advantage that I believe is the most beneficial to me, is that no one owns your bitcoin but you (unless you're daft enough to use a site like Coinbase, of course).

One of the biggest advantages to me is that you can store bitcoin safely without using a bank. I think in the future, the ability to send money anywhere in the world or withdraw the money anywhere in the world will be a huge benefit.

Bitcoin is a cryptocurrency, meaning that it is a decentralised currency.
It is peer to peer, so no third party.
It is semi-anonymous.
It's a digital currency meaning that it could as well become the currency of the future.
....... :)

I think that it is inherent for all cryptocurrency to have their own respective wallet. They won't be called cryptocurrency if you have to go to a bank for a deposit or withdrawal. Also the point of a bank is having interest while growing it, also storing your Bitcoin while in your wallet also has price appreciation because of its volatility.

yeah , But here also another fact that its price value increasing day by day but in bank fiat system only useless amount of money credit to the account but still the principle value decreases according to market value .
So bitcoin is profitable in every manner .

Yeah and aside from the fees you will be paying in sending money to another country, you don't need to worry about the conversion and the value of the money you will be sending since bitcoins value is universal. Another advantage of bitcoin is that it is tax free. And your transaction is free from any third party involvement. Meaning, your transaction is just between you and the person you will be sending bitcoin.

Exactly, bitcoin has no control so that it flows naturally and everyone can use it in the way we want and that’s the biggest advantage of it. It’s also good from price as well as popularity point of view because bitcoin price is determined by the users indirectly (law of demand and supply) and natural flow makes it difficult for others to manipulate price (although some incidents affect price but that’s due to panic selling or buying) there is no direct authority other than we as a bitcoin users.

Advantages of bitcoins
-its transaction fees are low .
-it has a better future
-u can buy it at a lower price and sell it at a very high price .kudoos  :)

I believe it's highly secured for starters. It's easy to buy and sell. Plus there no need to wait like you do In a bank. It's wallets are easy and secure. Unlike bank cards anytime they get hacked. It's liquid and it's prices keep on going up. What I also like it's simple and easy to operate. No big formalities simple and nice.

to me if we count the number of advantage of bitcoin i think it may be in hundreds, as every is going to mention the advantage that is  more convenient to them. but over all there are so many advantages of bitcoin.

good point mate this really an advantage that bitcoin offer hassle free no need of your personal data no need of giving identifications you can just easily store your investment and if you got lucky and make an entry while the price still cheaper the possibility to increase while holding is always present, still many things can happen with more and more adoption holding bitcoin is a good investment to earn high profits in the long run.

The benefits very much, to earn extra income, while working I get bitcoin. And can learn more about trading and mining, for the community certainly can open job opportunities.

I see the biggest advantage of Bitcoin in it`s transparency.
Ability to transfer any amount in the minute around the globe.
Low fee for transfer.

I really love the transparency of bitcoin,if government around the world want to implement bitcoin to monitoring some project which is going deployed by the government then it's really good, we can prevent corruption, and the funds could clearly being shown to the public for what purpose it is by just simply giving a text note in every transaction or funds movement
otherwise if some country wants to implement blockchain system by making their own cryptocurrencies also not wrong

There's a lot of advantage of bitcoin.We can send to bitcoin worldwide.Also you ccan't trace location.Again bbitcoin is a ggood investment, we can earn decent amamount through bitcoin.Besides, we can buy digital goods from online store cheaply.Another advantages is bitcoin transactions is irreversible so that chance of getting scammed is null.

Bitcoin have many advantages i will give you all the advantages of bitcoin.
1. Easy to send and receive payments.
2. Easy to cashout (Bank , Remittance , Convenient Store)
3. No taxes for sending your btc not like paypal.
4. Easy to earn even the kids can earn too.
5. You can buy anything in the internet using it but it depends on the store if they accepting paypal.
6. It can grow if you invest it.

Yup i think you stated all the points and i think that's the reason people are still using bitcoins since it's tx fee is not as high as monero's
And it got highest price than all other crypto currencies

Yeah, earning it is very worth it when we convert it to fiat because of its high value. Also there is no limit who can earn it as long as you know the ways how to earn. If you work hard enough for it, you can earn more than what a regular employee earns per month. Also it is convenient to send and receive bitcoin to your friends and relatives.

The main point is that you can send money around the globe almost instantly without having to pay large transaction fees. No banks can currently do that without large fees.

Yes, I agree.. we can save from big charges if we use bitcoins sending money to our love one's from other country. Aside from the convenient that bitcoin brings, because it is less hassle to go in bank and fall in line. Bitcoin transaction is more faster than the bank transactions. One more thing i like about bitcoins, I can have extra money from my earnings without doing nothing. Just invest and wait. Bitcoins really helps people. Long Live Bitcoins!

My favorite advantage that we can get from bitcoin is the fact that no one cares about the transactions that you're doing. When you earn thousands of dollars through bitcoin, no one would go to your house and ask the reason why there's a sudden change with the amount of your income. No one would put tax on you. There's no deduction with what you're receiving. Yes, anyone can see your whole transaction history but that's it.

Very true. That is why illegal transactions are being made it here. There is no questions if you dont go to the limits that a website wallet provided. Just send minimum amounts until all are paid and no one would care.

Thats really the advantage of bitcoin on which no one could impose tax on you and you are right no matter how big money or bitcoins do you have still dont matter because you have the full control of it and no one could able to get it from you.No one would really care regarding on your transactions or on balance of your wallet as long you put security on your  wallet no one could steal it.

The advantage of using bitcoin is we can send international without any delayed happen or you can receive payment instantly without doing anything waiting for the sender to send your bitcoin and you can also earn from bitcoin without investing big money just strategies and techniques also we can exchange bitcoin into fiat money.

Bitcoin has a long list of advantages:
1. Low fees definitely
2. Transactions are almost instant-distance isn't a barrier
3. Internationally recognized
4. Storage of bitcoins doesn't attract maintenance fees
5. Easily accepted by exchangers

This will hold true only as long as you don't start converting you thousands of dollars of bitcoins into real dollars and then withdrawing them to your bank account. Indeed, if your thousands of dollars are just that, namely, a few thousand dollars only, you can really hope that no one will be particularly interested where these monies come from. But if your bank account balance suddenly increases for a few hundred thousand dollars, I guess you'd better not hope that it will slip under the radar of supervising agencies. And you should be prepared to explain where all this wealth comes from...

And whether you paid all the due taxes

For me the advantages of bitcoin are great since I can easily pay my load and other bills online using bitcoin in my country and the most part is you can send globe with less than fee and you can send without tracking your anonymity.

For fast transactions the fees are pretty high in my opinion, but for ones that are not urgent you have to pay like 5-10k satoshis for the payment to be confirmed in about 12 hours.. It's great the fact that it is very fast and easy to use and to understand. Staying away from the governments, building up your own anonymity and privacy is great. It's just a protection shield that covers your back. Another amazing thing I have found is the cold wallets.. They're just great. You can basically create your own Bitcoin banknotes.

the fees for every transaction in bitcoin is very difference in other payment mode online like in paypal if i compare them bitcoin is only asking for cents fee it is depends in you if you want to high priority and receive it sooner you should increase the fee in my experience when i was withdrawing my balance in yobit the fee in yobit is also increase so 50k sat now i am receiving bitcoin funds from yobit fast..
So we are paying for a small fee is one of the advantage of using bitcoin.

Advantages over physical cash:

1. Easier to carry, and to transact.
2. No risk from central bank devaluation.
3. Lower risk of robbery.

Advantages over credit cards:

1. Lower transaction charges.
2. No hidden fees.
3. Anonymity.

Currently the advantage of bitcoin are no fees or very low fees within bitcoin payments. Every transactions of the users should include fees in order to process their transactions faster. I think also, that the higher the fee, the more priority it gets within the network and the quicker if gets processed. And most of all, the transactions are very convenient to use.

"3. Internationally Recognized" I think not all countries recognize bitcoin, bitcoin banned from use in some countries. But overall I agree with you about the advantages bitcoin. If the advantage bitcoin I may add, that bitcoin fluctuation tends to increase, it will greatly benefit users bitcoin. Moreover there is no additional cost in bitcoin so we need not fear incur additional costs that drain our bitcoin.

Trust me most of the countries have already recognized Bitcoin.And the ones who have not don't play any significant role.
That however doesn't mean that those countries who have recognized Bitcoin are loving it.At least not the people who are in power, the governments.
The part of the populace however who already know about Bitcoin is also loving it. Bitcoin means more financial freedom, independency and choice to us, while for governments this means less control of the money supply and less control of the people.
And don't let us forget that are countries out there who definitely support research and development of Bitcoin and crypto currencies in the hope of becoming a major hub for that new growing industry and it's companies.

Not all but majority of the countries knows about bitcoin already, how does anyone would not notice a certain digital currencies that values already $700+? It's amazing in their eyes, and it's even better than fiat in terms of investment.

People might treat it as investment or as a currency but it depends on them as long as they will be interested.

My goverment still forbid bitcoin usage althought they notice bitcoin potential but as we know bitcoin will encourage people to do money laundry activity so that's why bitcoin popularity still can't beat gold's yet

Bitcoin is recognized in the countries which are most powerful and influential in the world, both economically and militarily, such as the US, EU, China, Switzerland and Russia (to a degree). The fact that Bitcoin maybe prohibited from use by some rogue government or dictatorship doesn't change much for Bitcoin in the general scheme of things. As a rule, the countries where Bitcoin is banned have high inflation rates, and this pretty well explains why the authorities may be very hostile toward Bitcoin, for example, in Venezuela. That's why people would obviously prefer Bitcoin to their crippled national currencies...

I mean, as a means of preserving the purchasing power of their savings

Yes!i strongly agree with this. Bitcoins are internationally recognize. No wonder if bitcoins will consider as international digital currency. Since bitcoins are internatinally recognize, u can use it even in other country once you travel. It is also not easy to exchange because many exchanger already recognize bitcoins. Aside from that. Bitcoin transaction is fast and had low fees.

There are many advantages of bitcoin. Like it is convenient to use, there is no age limit where it comes from earning it or you don't need to be some kind of professional to earn, has smaller fees than banks, and great value when converted to fiat.

There is so many things to say about this point and I think the most users who already commented this thread before me have said enough.  To me bitcoin is the new area of money and all financial system. But bitcoin is young and it does not show itself yet. As well bitcoin is vulnerable.

The bitcoin has a lot of advantages but one of the biggest ones is that it is anonymous what is making it very nice if you are asking me..

The best of bitcoin is the value that increases as the time goes on and we don't know yet how much the end of the price to set stable, it could be $1000, $10000 or $100000/BTC1. Because of that, bitcoin is suitable investment for everyone, low cost to buy and higher price to spend. Totally avoided from fiat money inflation and banks system that take your money away.

Or it could be worthless.  Once the authority act against bitcoin, declare that it is illegal, and track down bitcoin user and put them in jail, all our dreams of it reaching million dollar will vanish.  I am not being pessimistic here just my wild imagination in action.

---

Still the advantage of bitcoin is it enable us to send currency anywhere in the world directly without using any third party processor or remittances.  If ever bitcoin is accepted by the government, we can see the beauty of the ease of sending money to our love ones.

I think the advantages of bitcoins are its easy to use,pretty easy to have some satoshi so you can earn some money without even spending out some of your real money,and of course its anonymity even kids can use or have a bitcoin wallet so they can earn some

Don't go to countries banning bitcoins, those are junk countries. Their governments are corrupts, don't have any respect for citizens, the violence tax is high and you will find many illegal things and persons trying to steal you.
Countries that don't respect individual rights should be defenestrated by decent countries. Bitcoin will reveal many dictatorial behaviors yet.

It is not visible you can move it anywhere around the world

there is many advantages of bitcoin like as we can send our bitcoin in any amount to anywhere and bitcoin transaction fees is much lower than bank and its transaction is also too much faster and bitcoin increasing its value too much faster.

Yeah agree you points bro, I would say anonymous is best thing in bitcoins, addresses are like a open ledger where we can easily find all the transactions of one corresponding address. Its is better competitor for PayPal , wu and other exchanges as well.

The advantages from the bitcoin is that you can use it everywhere and its also just a nice currency to use for payments, its easy and fast.

Bitcoin is the best for all the internet currencies and easy to transact and it is anonymous that the receiver will not knos your information not like putting credit card info to the website before you can buy items.

Being anonymous would give us convenience to transact online, there's no much of a requirements before we can transact.

The hardest part of my experience was when I need to comply with the KYC of my local exchange but other than that, everything went smooth.

To be able to gamble regularly is already something I can consider as the advantage, plus the fact that we can earn in different investment then it's really great to stay here and I think it will be longer as long as bitcoin exist.

yeah you do not need to be a professional to be able to produce bitcoin. because even a small child can get a lot of bitcoin faucet or game. and many other advantages offered by bitcoin

You can't get a lot of bitcoin on faucet or other kind of games that gives satoshis or bitcoin because they always give small amounts and it's not even fair enough for a child to buy school supplies. I agree with you that a small child can get bitcoin because of the games out there that give small satoshis but for a child, it is not all about the money or amount of satoshi that is given because it is all about fun on doing or playing those different games that offers bitcoin as a prize ::)

You forgot one of the best thing about bitcoin, for each transaction that we make the fees are cheaper than the usual transaction fees we have used before. And also one of the advantage of bitcoin now is many merchants are already accepting bitcoin even though they are still in the process of adoption and adjustment still that's a good advantage for us who uses it.

The biggest advantage of bitcoin is that its digital and cash in the same time. Outside of that its  like gold, bank money, cash and paypal at the same time having all of those money advantages. It has lower fees and and lower available transactions. The biggest drawbacks are possible security issues, but everything comes with a price.

There are a lot of of advantages these days and I think that its pretty hard to say what cannot be done with the bitcoin.

yep ,  No doubt that Bitcoin advantage increases daily but small problem in Bitcoin is that a big part of the population of the world is unknown by such virtual currency and I think this is insisting the Bitcoin popularity in small degree .
Overall advantage or Bitcoin is such that we can't count it .

They don't need to know because bitcoin is not really for all of the people, it's only for those who do online transaction and wanted to save time, effort, and costs when doing it. It's decentralized and that's what attract us to use it, it is the advantage than non other online processor or services can offer, it's unique and that what people like.

After I know the bitcoin I feel many advantages that I get. Foremost is I can get a benefit because buying 2 bitcoin when the priced around $300, and now it is $800.

It's advantageous to have bitcoins because it tends to grow in value quite quicker than the traditional banks and with bitcoins ATM's springing up they're giving traditional banks a good run for their money.

Wow! that's amazing how you keep your 2bitcoins for almost a year? you do any bitcoin business or you just stock your bitcoin balance into your wallet for 1 year?  ??? very nice it become tripled of your bitcoins.

There are huge alot of advantages of bitcoins and many can be found in google as well but i will tell the thing that i like about the bitcoin.The most advantage i get in bitcoins is it allow me to gamble without disclosing my identity and no one can know the i am gambling and where the funds are coming.

The most important advantage of bitcoin to me is that I can now earn bitcoin from available tasks on internet before bitcoin it was hard for me because paypal is not available in my country and I was unable to earn money from those sites. There were some sites on internet which were using different payment processors but they were much lesser in number.

Earning oppotunities on bitcoin is one of the most advantages of it on which some people do really benefit out of it and i could see some that they are relying their daily lives on earning bitcoin and could able to sustain their lives because of it.Not only that since bitcoin is being created mainly for online payment for peer to peer system without any 3rd party involved.

There's a lot of advantage of bitcoin and I can't mention it all one by one. This coin can still operate even it is not connected to bank. Here in our country we have now the local exchange and there are banks that are already connected to it and it is really very helpful.

yeah you must have gained an enormous amount of profit from it  ;D but I think you shouldn't sell your 2 bitcoin right away because bitcoin is rising up high really fast now so if you wait longer, you will get even more. I was about to do the same thing but I don't have much patience like you so it turns out to be that I get more money from online jobs than just keep it and wait for the right time.

I also kept some of my bitcoins for a longer period and from that I got a very high profit and that was the time of halving after that I spend them on some of my purposes and after that once again I started to store bitcoins and now I am again very happy because I am seeing that once again the price of bitcoin is increasing and I am earning a good profit.

Thoughts and attitudes are very good friends. For as the future we cannot know and whether in the future we can become a rich man or not it depends on attitude and also our thinking at the moment. have you ever wondered how a bill gates before becoming a wealthy man who gets into the big 3 ..?? . And have you ever seen or know the background before mark zuckerberg became wealthy due to create or make a facebook. All of them are in fact not know but they are sure he will definitely give you a huge advantage. Same thing with bitcoin

Bitcoin actually, can give a lot of money to those anyone who will understand what bitcoin is really all about.  And for us of course to get the edges of it we need to be open minded and accept to ourselves that we are a risk taker in this field of industry on bitcoin world. Because the cheapest that you will ever seen in the online transactions that gives low fee's of charge can be found only here in bitcoin.

Many advantages of bitcoin of bitcoin, After the price rise of more than $500 attracted me to put my money in the bitcoin, long-term investment is one of the great things if we buying the bitcoin.

In a long term investment, I  prefer bitcoin to be used. For example in a company, I will choose the company firstly in my local country and which I can ensure won't fall. And in that investment, I can easily invest my money easily and fast through bitcoin as it was used as mode of payment online.

maybe it is already mentioned by other people here but i would like to say that bitcoin is more convenient to use as method of payment and bitcoin is reliable for long term investment or putting your money for savings and while you are keeping your money in bitcoin there's a possibility that you will make a profit from it .

The fact that it's both a currency and investment, it would certainly attract more people. Bitcoin was created not for investment purposes but with the good system, business minded have seen good potential of bitcoin and have seen that it will be a big thing that is going to be popular online currency in the future. I have both experience treating it as currency and investment and I have reap benefits using both. I can gamble with my bitcoins and can hold it for profit.

1) The price is increasing little by little, so it's great for people who wants to invest their money on something profitable.

2) The price of bitcoin is really high for a lot of third world countries. Earning bitcoin could be really profitable and could help them fulfilling their daily needs.

3) For countries in arab areas, bitcoin could be used for gambling since gambling is banned there since bitcoin is more anonymous than fiat.

nowadays most people are doing the same thing as well although it is not actually supposed to be an investment and it was created for transaction purposes but we found out that it was also the advantage of using bitcoin. we can treat it in different ways whether it is for currency, an investment or much better we will treat it in both ways because the good benefit of it is that we can just keep our money safe with bitcoin while its price is growing .

The best advantages of bitcoins is that u dont have to go to banks for bitcoins and the security is pretty good in heee and there is no involvent of third party in case of any transactions.

Bitcoin has many advantages but I will list a few ;

Freedom in Payment- it is very possible to be able to send and get money anywhere in the world at any given time. You don’t have to worry about crossing borders, rescheduling for bank holidays, or any other limitations one might think will occur when transferring money. You are in control of your money with Bitcoin. There is no central authority figure in the Bitcoin network.

Control and Security- Allowing users to be in control of their transactions help keep Bitcoin safe for the network. Merchants cannot charge extra fees on anything without being noticed. They must talk with the consumer before adding any charges. Payments in Bitcoin can be made and finalized without one’s personal information being tied to the transactions. Due to the fact that personal information is kept hidden from prying eyes, Bitcoin protects against identity theft. Bitcoin can be backed up and encrypted to ensure the safety of your money.

Information is Transparent- With the block chain, all finalized transactions are available for everyone to see, however personal information is hidden. Your public address is what is visible; however, your personal information is not tied to this. Anyone at anytime can verify transactions in the Bitcoin block chain. Bitcoin protocol cannot be manipulated by any person, organization, or government. This is due to Bitcoin being cryptographically secure.

Very Low Fees- Currently there are either no fees, or very low fees within Bitcoin payments. With transactions, users might include fees in order to process the transactions faster. The higher the fee, the more priority it gets within the network and the quicker it gets processed. Digital Currency exchanges help merchant process transactions by converting bitcoins into fiat currency. These services generally have lower fees than credit cards and PayPal.

The advantage of bitcoin for me was I think the transaction fees is very low, And through online bitcoin can be use too. It is also very affordable, convenient to anyone who will get involve here in bitcoin world. Lastly, Bitcoin is one of the kind of opportunity to anyone that can help people or individual to have an extra income.

It's best advantage is seen when viewing it as a currency, having an income is just a bonus of using bitcoin but in reality, it really help us to transact anonymous online and be able to enjoy what our bitcoins with different entertainment online.

It seems that your last point of very low fees is no longer as good as it has been before. With prices touching $900 per coin and the tendency of further rising, they may become quite burdensome in dollars unless you are using an online wallet like Xapo or Coinbase, which pay the fees for you. And it is not given that they won't start charging the transaction fees if the price continues to rise.

I agree with this list since these are the advantages over it. You can monitor transactions over the block chain also. It's safe to transact with bitcoin.

in fact there are so many advantage of bitcoin, the most important advantage is that bitcoin can be use in any part of the world without changing it in to any other currency, as bitcoin is a universal and decentralize currency of the world.

Payment freedom - It is possible to send and receive bitcoins anywhere in the world at any time. No bank holidays. No borders. No bureaucracy. Bitcoin allows its users to be in full control of their money.

Choose your own fees - There is no fee to receive bitcoins, and many wallets let you control how large a fee to pay when spending. Higher fees can encourage faster confirmation of your transactions

Fewer risks for merchants - Bitcoin transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance.

Security and control - Bitcoin users are in full control of their transactions; it is impossible for merchants to force unwanted or unnoticed charges as can happen with other payment methods. Bitcoin payments can be made without personal information tied to the transaction. This offers strong protection against identity theft. Bitcoin users can also protect their money with backup and encryption.

Transparent and neutral - All information concerning the Bitcoin money supply itself is readily available on the block chain for anybody to verify and use in real-time. No individual or organization can control or manipulate the Bitcoin protocol because it is cryptographically secure. This allows the core of Bitcoin to be trusted for being completely neutral, transparent and predictable.

Great. I just want to add. the main Advantage of bitcoin other than other curriencies is its CONVENIENCE . I think it was partly discussed above. Here, you can Buy or Sell stuffs in an instant and hassle free. Unlike if you use Fiat. you need to go to somewhere to pay which is time and effort consuming.

Nowadays, bitcoin is the only thing that can help people in their daily lives for free just by researching how to earn money and affordable and best if you have your own computer in your house and internet you can easily become rich with it.

I found that one of the most important advantages is the tamper-proof, which is critical in the financial system. People can not alter the data already exist, thus avoid many sorts of fraud in today's financial systems.

Bitcoin really helps people who is have a problem on financial status. But in earning bitcoin you should know the way on earning od bitcoin. If you are a newbie o using bitcoin dont expect that you will earn too big on just few hours. Some newbie bitcoiners are fan on investing on hYips cloudmining mlm etc. Because other want easy money.When they were scammed they will blaim bitcoin .

That's right, In fact bitcoin is already a totally package to anyone. Imagine by doing this things you can have a job instantly, also while asking everybody here in the forum you will learn too how to save money through bitcoin trading, signature campaign, or doing faucets to get free satoshi.

First of all we do not need have bank account. Not all people are owning bank account, aren't they? Especialy student and people of remote village. Bitcoin transfer is better than bank, so there is no different bank transfer money that not practicaly, really costly and need a long time to complete it. Also no maximum or minimum transfer amount. I think still the most important thing of bitcoin is the lower fee than bank.

Without the trust middleman, can conveniently carry on the remittance on the internet.  Third parties cannot control or block your transaction.Trading is almost free

1. You can transfer funds around the globe at lowest fees. Much lower than Western Union, etc.
2. Minimal formalities, can use in your business without anyone's permission.
3. Rates are determined by forces of market-supply. No government can control prices of Bitcoin, unlike forex, etc. Thus, Bitcoin is completely decentralised.
And many more....

I think for the moment we still need fiat, because bitcoin not be relied upon to perform transactions offline, for security issues I admit bitcoin have good security for your money and your identity

First of all, we do need to have a bank account. Maybe right now, you don't need one because you can always sell your coins to someone personally and get the cash handed to you, but eventually you're going to be tired of doing that and choose to get a bank account. Exchange websites require you to have a bank account to get your bitcoins converted into fiat. Actually, even if you don't open a bank account for bitcoins right now, once you get a day job, you'll be forced to open one. That's just how the world works, we're basically forced to open a bank account to avail services and to get paid for our job.

   I need to have bank account cause my company send my paycheck there, they will not give me any money if I dont have account in specific bank. Like choppork said I'm forced to have bank account, and one day when I sell bitcoins I have I'll use that account. Not just me, all people are forced, they are earning on us and that is how they control us. With bitcoins is different, its matter of free choice.

Paper money is really bad, the value is decrease. I agree that we dont need bank anymore, if we transfer money by bank the fee is higher than transfer bitcoin. Also bank transfer is need long time and not practicaly.

It is quite agreeable that bitcoin has a huge number of advantages. One of such advantages that is clear to me is its flutuating nature that allows any skillful trader to leverage on. Another is its eletronic form which removes it from the damage and theft that physical cash is liable to

a lot of advantages bitcoin compared with the virtual currency other words. bitcoin has very cheap delivery fee. and also transactions quickly. other than that bitcoin has a centralized system. so that no one could intervene against bitcoin.

As I can judge, many people are in the same boat, and they have use banks to get their wages even if they wouldn't use them on their own. A word of caution, if you are going to cash out and withdraw fiat to a bank account, don't use the account where you get your wages transferred to. The bank may block this account, and you won't be able to get money which you receive from your regular jobs. Some people have their accounts frozen for operations which the bank considered as suspicious.

Better open another account in another bank.

In 2016, keeping your funds in Bitcoin had better "interest" than any bank I know of. Hopefully, this will continue in 2017 until Bitcoin becomes more stable. I keep its potential Bitcoin's greatest advantage.

The mainly advantage is that i can payout many many times little amounts of satoshi...
this was not possible with other ecurrencies because the fees would have eat all my earning.
Now with Xapo i have no fees when i send

I doubt that bitcoin will be stable in 2017. I bet people would start dumping once the price gets to 1000$ as most people here are talking about how they would sell their coins at 1000$. Right now we're at 900$ and there's not that much dump going on except for yesterday's dump that made bitcoin reach ~875$ but bitcoin did a quick recover after that and then reached ~915$ again. If someone made a pump and dump there, then he just made around 30-40$ per coin that he has. That's one of the main advantage of bitcoin, all these price fluctuations that can make your bitcoin grow.

Payments are indeed became the main thing we have to think, because if we can't create revenue that we get then things will give you great harm and certainly our funds will be exhausted by the time quite short because it can't qualify well. So, profits in gambling is not also of costs but also can we get from anything else. As profits investing in bitcoin and also doing other things like trading, or loan

It's never really stable; it's part of bitcoin I think. If people start dumping, I guess it would be okay since it will be converted into fiat. Most people took advantage of the increased price of it. The Bitcoin is currently getting stronger, but it could make you rich and also poor if you've done wrong decisions.

Timing is very important fact here.We need to have the right knowledge about bitcoin.one good decision can make your life better.Since bitcoin is trusted and doesn't disappointed me.So,when bitcoin price was Under 500$, I bought 5btc.And now it's hitting 1000$.So, I am in very much profit.So,price of bitcoin is rising rapidly.This Is a very big advantage of bitcoin.

Yes, the low Transaction fees are the best feature in bitcoin payment system that makes it better than all other online payment methods. It is super easy to use also and we don’t forget that the price is also increasing time to time that convert it into a great investment opportunity for all the people. Yes, advantages of bitcoin is unlimited literally.

I also agree Low transaction fees is the best advantage of Bitcoin.Bitcoin transaction is also Fast,easy and untraceable.Again,bitcoin price always increasing and it's another advantage of bitcoin.People can recharge their mobile online by bitcoin.Overall, bitcoins advantages can't be expressed in a day.

It's low when you compared it to other ways of sending money especially when you're going to send money to another part of the world. But, there are things that you should consider when you're going to choose "low" in the transaction fee. Low transaction fees come with disadvantages. Transactions with high fees would be confirmed first and the low ones will be confirmed for a longer time, thus, that contradicts the "fast" transaction time. When it comes to transaction fees and transaction time, altcoins beat bitcoin.

It is true that the bitcoin has less transaction fees, but also the bitcoin is much easier to use than using real money all you have to do is send the money to the designated address , and it is much safer than using credit cards because you don’t have to enter any personal information so you are totally safe from hackers and key loggers.

It is right that offline use of money in bitcoin is not possible but in the current time most of our activities are performed by us online and we feel more convenience when we pay for any service online and shopping nowadays are going online even in third world countries.

There are a lot of advantages in using bitcoin -
1 - In certain situation or your earning source you can save tax
2 - While sending payments you will not be trace down easily.

The best advantage there is to do away with taxes, it's our benefit that can give us good income when we are not oblige to pay taxes, being anonymous will be eliminated someday as the government always wants us to comply with the law.

There's so many advantages of bitcoin has, one of them are bitcoin don't have any tax charges, aside from that hassle free, then it is more secured than a bank outlet which can be steal by a robber anytime unlike bitcoin not. That's it!

Maybe you have to educate yourself a bit about how bank works, it's not what you think mate as though the money in a bank will be rob you can still recover your funds as it is secured with an insurance and that is a normal operating standard for every bank required by the government.

That's the advantage of putting your money in the bank but you should also know that when you are going to put your bitcoins in your bitcoin wallet.

Remember that there is no assurance and you are not covered by any insurance by the bitcoin wallet provider that you are using, it is like when your private keys are hacked and your bitcoins are gone, they will be gone forever.

no that's not true man, banks are more secured than what you think and your money is more prone to robbers or so called hackers maybe you didn't know how risky it is to store your money online through bitcoin because our computers are vulnerable to a malicious software like botnet or trojan horse which can be used by hackers to gain an access and remotely control your device .

There are many advantages of bitcoin. besides as a currency, and where the money could be said bitcoin is also a very profitable investment because when the price hikes we could be a benefit which is quite tempting.

That's one of the good thing that bitcoin has and the other advantage that I can see with bitcoin is that if you are going to send bitcoin balance to other people that can be done within a couple of minutes and the fees are cheaper than the usual sending fees from well known remitting centers. And that's why I really like this advantage of bitcoin.

That's definitely right. Bank also cover your loss if your accounts were hacked while with bitcoin you can do nothing if the funds were just getting away from your wallet. By using bitcoin you must maintain your security by your own hand and whether the security will be very good or bad it depends on the owner. Banks are setting up everything necessary for you because you're their client and they will make profit out of you

- lower transaction fee
- easy to earn
-  no tracking
-  no risks of charge back
 and    cannot be stolen

As a gambler the advantage of Bitcoin to me is that i don't need to go to the casino here in my country anymore because i there are many Online Casino that accepts Bitcoins. Less hassle in depositing Bitcoin than depositing money , Some casino only needs 1 confirmation then you can already bet. I can also withdraw Bitcoin anytime and it is fast.

There are loads of advantages of bitcoin over other stuff like online banking/local banking.

• The anonymity and security
• Freedom, due to decentralization, you dont need to tell others what you do, and why you do
• Not hackable, your BTC cant be stolen
• Banks, governments dont benefit from your interest, you own your money
• Its faster than any other payment methods, doesnt have any caps, and transactions can be done anytime of the day

There are many other benefits, but its better to use bitcoin yourself and find them out on your own. Thats the suspense :)

t's safe, quick, and reliable. I can send money to someone in China right now, within a couple of seconds. The transaction fee is also really insignificant and there isn't this centralized government which all of the BTC cycles through.

Confirmation time is more like 30 minutes or 1 hour, rather than "a couple of seconds". Also, the transaction fee depends upon the size. If your coins contain a large amount of dust, then the tx fee also will be high.

you are more safe to store money on banks because all of your money is covered by insurance and they will surely provide a high security with your money, the only thing that can be an advantages of bitcoin over banks is that you are not imposed a huge tax or transaction fee from the bank and you can be your own bank . and That's it . just because you are your own bank doesn't mean you are already secured maybe you've forgot that we are on a cyber world where we are using our bitcoin and where we can be easily robbed just because of our own mistakes .

I disagree. Even the banks didn't provide insurance for your deposit when bankruptcy hits them. I think they will just refund a smal portion of it. It is more safe to just stored your bc in cold storage. It have a lot of advantages in both security and profit.

but at least you are not going to face a total loss if they are going to refund a small portion of your money but I don't think that banks will easily hit by bankruptcy and you have the ability to pick the bank of your choice and its up to you if you are going to choose the bank which is prone to that instances . by the way bitcoin and banks have many differences both has their own advantages and disadvantages we can say that it is more safe to store our money on banks or bitcoin it is just depends on our consideration .

The greates advantage of bitcoin is its great value unlike fiat. Many demands but only limited supply which makes bitcoin's value keep rising. I think we might hit 1000$ per bitcoin before the year ends. And won't drop below 800$ for the next years unless something really bad will happen on bitcoin.

It depends on the size of your deposit and country of your residence. Deposit insurance is provided in many countries and may fully or partly cover the losses incurred by the bank bankruptcy. For example, in the US, deposits can be insured up to 250,000 dollars by the FDIC (Federal Deposit Insurance Corporation). In Europe, it is something about 20,000 euro per individual (if I'm not mistaken)...

I'd been through a bank bankruptcy process myself and got my money back in just two weeks

For me, it is the only currency that has the potential to increase in value against any fiat currency. The value has already double in 2016. Also that inflation has no effect on it is another good plus to BTC design

There is a big impact in the price with bitcoin unlike other currency.. we are lucky to know bitcoin because the movement of the price is changing.
The other currency price also is changing it takes long time before you can seen the new changes of the price of fiat than in bitcoin.. also the movement of the price is fast than the other currency..

There are lot of advantages of bitcoin than any other traditional currency. However, there are disadvantages as well. Firstly bitcoin has a very huge potential to become huge in near future which normal currencies can't think about.

On the other hand, bitcoin is not regulated by anyone and not all government authorized this currency. So you may be earning black money in the eyes of your government. But if you treat bitcoin as an investment, then it will reward you suitably.

Bitcoins made the online transaction system much easier than before. Yup it has very low transaction value as compared to all other payment processors. Even very little amount of payment can be easily send without fees which is a great advantage of Bitcoin. I am also using XAPO and it is working fine for me.

I am surprised mention have not been made of the emergence of new products, e commerce companies and innovations of some old concepts, not forgetting the job opportunities the emergence of bitcoin have brought about. That aside, bitcoin have broken and shattered the barriers placed on most poor and developing countries by (almighty) Paypal and the card companies, now anyone, anywhere can send and receive money almost instantaneously, something no one ever thought was feasible - all thanks to Satoshi!

We can't say directly that bitcoim made online transaction systems much easier because still there are problems about fees on higher than one btc transactions and some people have confirmation problems. Despite that I agree you, it made much easier in one side because it's simple and available for everyone, it don't has any limitations like viza/mastercard or paypal has, that's big plus.

The advantages of bitcoin that i know is you can get in and earn bitcoin world even you are under 18 because bitcoin doesn't care what is your age and also bitcoin is secured and request lower fees rather than in the traditional remittances which can help for foreign workers to save a lot of money and just use crypto-currency and not the traditional remittances.