The advantages of bitcoin

[JimmieA]

I assert that bitcon has many advantages. Bitcoin is digital money, all transactions are made on the internet, you can secure information when trading. Not only that, invest in bitcoin is free, I'm financially self-sufficient when investing in.

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[swaptaker]

I assert that bitcon has many advantages. Bitcoin is digital money, all transactions are made on the internet, you can secure information when trading. Not only that, invest in bitcoin is free, I'm financially self-sufficient when investing in.

In addition to this, I make my transfers with extremely low fees about $5 at most. If I use banks, it's 10x more expensive than bitcoin transfers.

[Envrin]

For me, Bitcoin has many advantages, one advantage is it gives to the individual money to sustain the basic needs, It also reduce the increasing number of unemployed in some countries, The people who work in bitcoin develops the ability to reason out, enhanced the English proficiency, that's the some advantage of bitcoin.

Bitcoin does not just have any significance, it's the main crypto currency. Bitcoins own more than 50% of the capitalization of all cryptology. And all the crypto-currencies bear the huge promise inherent in the code economically.

[Chekitan]

. It is a fruitful effort of people which yields sweet fruits
• It's global currency, meaning you can transact to different countries it's easier since you don't need to convert your local money to their local money.
• You can use bitcoin as a mode payment.
• You can earn bitcoin no matter what's your age, no matter what's your gender or race.
• It reduces the unemployments in the society.
• It helps students or other people to have extra source of income.
• Easy transaction.
. Reduces poverty
It has zero or very low fee
. It provides us with saftery reliability and security
 • It's price keeps increasing and increasing. If you have bitcoin or invest in bitcoin your money may double or triple

[dadishark]

Bitcoin has many advantages
                - first advantage, bitcoin gives a chance to earn money to improve my life
                - second advantage, bitcoin is a space of education (to understand how to reason  and how to develop information ........)
                - 3rd advantage, with bitcoin the loses time on the internet in non interested website almost rar now

[Valentina N]

Bitcoin have a lot good and bad side. I think the most people say that high volatility of bitcoin this is problem but I take it as advantages because a lot of people can make normal money.

[stripykitteh]

According to an article I recently came across, these are 20 advantages of Bitcoin:

1.   Anonymity
This is one of the main benefits of using Bitcoins. When you make payments through your bank account, these are usually easy to track and have identification marks. On the other hand, Bitcoin transactions are hard to identify. Hence, those who transact with Bitcoins gain knowledge of the addresses through which payment is received or sent.
2.   Private transactions
Bitcoin transactions remain anonymous as well as private. The transactions only come with sender’s Bitcoin addresses that reflect the transactions in someone’s Bitcoin account. The addresses cannot be traced back to an individual. It is akin to tracking a payment that has come to a bank account, but you will not gain information about the person who has sent the payment.
3.   Freedom of payment
There is much freedom when it comes to making payments through Bitcoins. One can send Bitcoins to anyone in the world. One is not limited by banking hours of operation or payment limits.
4.   No intermediaries
This is another advantage of using Bitcoins for making payments. As there are no intermediary parties involved, such transactions happen instantaneously and with less delay. There might be lagging due to conversion from one form of currency to another, but usually intermediary agents are not involved in Bitcoin transactions.
5.   Minimal or low fees
There are hardly any transaction fees that are involved in Bitcoin transactions. Usually processing fees are low or minimal. In case one wishes to get instantaneous transfers there is a low transaction fee that comes in. As there are no intermediary parties involved this also eliminates the need for transaction fees.
6.   Security for merchants
Merchants who use Bitcoin transactions usually benefit in many ways as these transactions are irreversible and secure and do not contain personal or sensitive information of the customers. Merchants are protected from charge backs that can be fraudulent or losses that often result from fraud.
7.   Fast transactions
The transactions using Bitcoin are usually faster if you compare the same with traditional banking transactions. A transaction in Bitcoin can be fast as done in ten minutes, similar to sending of an email. There are zero confirmation transactions that happen instantly when merchants take the risk of accepting transactions that are yet to be confirmed by the Blockchain of Bitcoin.
8.   No dependence on governments
The paper currencies that we use are dependent on the monetary policies of a country’s central government. They are given a certain value, but currency notes could be demonetized and at such situations, these notes would not have value at all. Unlike paper currency notes, Bitcoins are not centralized currencies. This is a crypto-currency that is recognized and accepted in digital money markets. In many markets, regions and places it has legal status and can be exchanged in return for cash as well.
9.   Security of information
There is no personal or financial information that can be stolen from Bitcoin transactions. Most people who make online transactions through credit or debit cards or bank accounts usually risk having their private information exposed and stolen.
10.   Secure transactions
The transactions that happen with Bitcoin are usually with a private and a public key. The public key is visible to anyone but the private key owned by a user is a secret. A transaction of sending Bitcoins is done by combining private and public keys together, which creates a unique certificate that is proof of the transaction.
11.   Unaffected by inflation
As Bitcoin is a crypto currency, it is unaffected by inflation factors, unlike how paper currencies get affected by inflation and monetary policies of the government.
12.   Creating Bitcoins
Similar to how governments can print currencies, a user can use Bitcoin mining software to gain more Bitcoins for themselves. This is a unique technology and a method that is not available with other currency modes.
13.   As a crypto currency
Bitcoin is a crypto currency whose legitimacy is maintained with Blockchain. It is a way of ensuring evidence of the Bitcoin transactions which is done by a decentralized network of computers where records of the Bitcoin transactions are maintained and are irreversible records. It is akin to an electronic ledger that connects different parties in an integral and trustworthy manner as well as maintains records of transfer of Bitcoins in a genuine and legitimized manner.
14.   Secure transaction records
With Blockchain technology Bitcoin transactions are recorded in a secure manner. This is done by generating a sequential chain of digital keys that are cryptographic in nature.
15.   A unique trading platform
Bitcoin and Blockchain facilities trade between two or more parties as Bitcoins are safe and secure as well as legitimate while Blockchain maintains records of the different transactions that take place.
16.   Efficiency for businesses
Transactions are settled between two or more parties in a fast manner as there are no intermediaries involved. Smart contracts can be triggered automatically that can make commercial transactions fast and as per contract terms.
17.   Ease of auditing
Transactions of Bitcoins are registered with Blockchain technology for which records are created that are sequential and cannot be reversed. Hence, the audit trail exists when two parties transact with Bitcoins and this exists forever.
18.   Ease of tracking
Even though Bitcoin transactions are anonymous and private, these are easy to use to track goods which can be advantageous for a commercial supply chain process.
19.   Transparency
The unique blend of secure and anonymous transactions with Bitcoins recorded in a legitimate and indelible way by Blockchain makes such transactions transparent which can be beneficial in commercial transactions.
20.   Feedback benefits
As all transactions with Bitcoin are recorded with Blockchain, an asset’s movements and its life cycle can be traced easily in different stages like shipping, warehousing, decommissioning and so forth.

The above points showcase the different benefits that one gets by using Bitcoin and Blockchain technologies.

One of the disadvantages to using Bitcoin is that it could be hacked remotely if someone has the information to your wallet.

[Blackwhite69]

I assert that bitcon has many advantages. Bitcoin is digital money, all transactions are made on the internet, you can secure information when trading. Not only that, invest in bitcoin is free, I'm financially self-sufficient when investing in.

Bitcoin's excess is overwhelming but for some reason it talks about the advantages of better discussing the shortcomings that need to be updated

[congtuan001122asd]

bitcoin is digital money. it has many advantages. Bitcoin helps people make a lot of money, helping people build their finances without the intervention of the state. Bitcoin helps people to pay quickly and free.

[Images21]

The advantages of Bitcoin for me is that it provides us a way to pay the things that we need without using the traditional method that needs to pass through some intermediate agencies. A peer-to-peer form of payment, Bitcoin is providing the ultimate power of commerce in the people's hands. They are the ones dictating on the rules and terms unlike in the traditional method wherein the banks and the governments are the ones setting the terms and conditions of almost everything.

[charlotte04]

For me, Bitcoin has many advantages, one advantage is it gives to the individual money to sustain the basic needs, It also reduce the increasing number of unemployed in some countries, The people who work in bitcoin develops the ability to reason out, enhanced the English proficiency, that's the some advantage of bitcoin.

There are many advantages on owning a Bitcoin, you're the early adapters of it, so might as well you'll be pretty rich in the future when all people will start using it.

[pcgm]

Undoubtedly despite the multiple advantages that has bitcoin, its main advantage and the reason why so many people bet on bitcoin as It's high profitability and earning capacity that it can generate in a matter of time.

[djkyno]

There are so many advantages of Bitcoin. Its the most valuable crypto currency nowadays and it have the biggest community. Also it is decentralized and anonymous and allowing fast transactions. Trading BTC can also giving you the opportunity to earning huge amounts as the price go up.

[enwi]

For me, Bitcoin has many advantages, one advantage is it gives to the individual money to sustain the basic needs, It also reduce the increasing number of unemployed in some countries, The people who work in bitcoin develops the ability to reason out, enhanced the English proficiency, that's the some advantage of bitcoin.

exactly, the advantages of bitcoin are with the rising price and the more expensive, making the bitcoiner will be more profitable and of course will make their economy become good

[Yieng7th]

For me, Bitcoin has many advantages, one advantage is it gives to the individual money to sustain the basic needs, It also reduce the increasing number of unemployed in some countries, The people who work in bitcoin develops the ability to reason out, enhanced the English proficiency, that's the some advantage of bitcoin.

we need long paper if want to talk about  The advantages of bitcoin simple one is easy earn money and price increasing every day

[Xabad]

The advantages of Bitcoin are endless and we can be here for days going over which feature is better, but the number one biggest advantage of Bitcoin is it's immutable ledger. Then comes the fact that this network is completely decentralized and the source code is open source which means that anyone can make it better and that is exactly what you are seeing happen.

[szpalata]

Lots of advantages if we have bitcoin but 4 things that make me like and feel benefited with bitcoin are anonymous, high security, low transaction costs, and incredible transaction speed.

I  think security and anonymity are great advantages that bitcoin has over the pothers or it's fiat counterparts but transaction fee cost can be subjective depending on the transaction you are making and the fees you  are required to pay because i cannot pay for a cup of coffee with bitcoin and then get deducted  for almost the price of the cup of coffee. The transaction speed is also questionable as there are many more unconfirmed transactions on the network and compared to some altcoins bitcoin isn't offering much either in that area.

[Zentor]

Lots of advantages if we have bitcoin but 4 things that make me like and feel benefited with bitcoin are anonymous, high security, low transaction costs, and incredible transaction speed.

I  think security and anonymity are great advantages that bitcoin has over the pothers or it's fiat counterparts but transaction fee cost can be subjective depending on the transaction you are making and the fees you  are required to pay because i cannot pay for a cup of coffee with bitcoin and then get deducted  for almost the price of the cup of coffee. The transaction speed is also questionable as there are many more unconfirmed transactions on the network and compared to some altcoins bitcoin isn't offering much either in that area.

It also does not provide complete anonymity of transactions, some other cryptocurrencies are doing it better

[rinny]

The advantages of bitcoin is beyond description. It has so many advantages that it will takes pages after pages to describe. in short, as its virtual money, and also quite secure, one can easily use it as a substitute to money.

[`zoned]

For me, as a student. Bitcoin helps me a lot especially in my expenses in school.I can buy whatever I need to and I can earn money while I'm still studying.I can even help my parents because I don't have to ask for my allowance since I can earn money on my own. I introduced it to my friends too.The best advantage for me is I have the possibilities to get rich at my age. and if that happens. I can start my own business and I will help others to get rich too by introducing bitcoin to them