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March 02, 2018, 04:14:55 AM |
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1. Advantages of bitcoin.
It can be said that bitcoin was born as a revolution in electronic payment when its advantages were enormous:
Convenience in trading: If you notice any intermediaries, they have a limit on transfer and receive money in the day. But with BITCOIN no, you can send an unlimited number of bitcoin to your friends, relatives. No matter where they are in the world. And you can send at any time, no one can manage the amount you send.
Safety and security: Every BITCOIN transaction can be done and completed without any personal information. Transaction information is displayed but your identity is completely confidential.
It can not be counterfeited: The cost of checking the quality of gold is very high, and the verification of BITCOIN does not cost anything, and it is true that bitcoin can not be faked because it does not exist in the physical form.
Extremely low transaction costs: There are no transactional intermediaries, only transaction processing fees, but it is not worth much.
Environmental protection: No chemicals or paper. BITCOIN's computer processing system consumes less electricity than the current financial system.
Ecommerce Potential: Every transaction of BITCOIN is completely anonymous and can not be reversed, so for sellers, they can be assured of fraud.
2. Cons of bitcoin.
Along with these advantages, BITCOIN will also have some disadvantages such as:
Not many users: The fact is that people, especially those who do not grow as much as Vietnam, are accustomed to using currencies, gold and silver. And they do not know much about electronic money. Along with that many famous newspapers have negative posts about this money (I will explain later) so people are very cautious and have many worries when using BITCOIN.
Somewhat difficult to use: To use BITCOIN, you need to create a wallet bitcoin, the operation must be done on the computer. For those who are technologically unattractive without guidance, it is difficult for them to do this themselves, and there is a risk of fraud.
Criminals, hackers, money laundering: Because of the anonymity of bitcoin and uncontrolled crime, criminals can use this money as a trading method. Hackers may be trying to attack multiple bitcoins to steal large amounts of money and money laundering can happen easily.
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