advantages of bitcoin

[Wowcoin]

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.

[1715168900]

1715168900

[Script3d]

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

[kryptqnick]

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.

[entrepmind23]

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.

[abayan]

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

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.

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

[samcoin]

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

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.

[ayesha sadiqa]

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.

[deisik]

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

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

[tabas]

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

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.

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.

[n691309]

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.

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.

[xuan87]

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

[jack1111]

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.

[MingLee]

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.

[ivanst776]

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

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.

[Taki]

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.

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.

[ArdiPrabowo]

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

[Noctis Connor]

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.

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?

[ajun96]

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.

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

[pooya87]

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.

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.

[18thacccount]

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.