BENEFIT OF BITCOIN

[Wesleyeric]

Bitcoin , which is often described as cryptocurrency, a digital currency.is a type of money that is completely virtual.
We can Bitcoin to buy product and services,but not all shops accept Bitcoin also some countries banned it altogether.


Bitcoin can be use to buy, send, deposit and also make withdrawals.
In Bitcoin, users can send and receive payments to or from anyone on the network without waiting for an approval from the authorities. Since Bitcoin transactions does not involve government,the cost of transaction will be low. Bitcoin user can pay for their coin anywhere when they internet access. This means those purchases Bitcoin don’t need to go bank or store to buy a product.

[mk4]

Since Bitcoin transactions does not involve government,the cost of transaction will be low.

The cost of Bitcoin transactions doesn't have anything much to do with government disinvolvement(besides potential unnecessary fees due to taxes and stuff). In fact, if you've actually used bitcoin, transactions on the base chain aren't really that cheap especially if you only want to send only a few dollars and if you want it confirmed asap.

[Leviathan.007]

Just after people enter the bitcoin world and buy their first coins they will realize the decentralization of this currency. Depending on what do you expect from bitcoin, there can be some befits for you. For example, if you are going to hide your money form everyone including the government you can save your money on bitcoin and use mixer with it. If you are living on a country and suffering some sort of economic sanction and you can't have any paypal or visa card you can do your payments using bitcoin and other crypto assets. However, for me the biggest benefit of bitcoin is to having limited total supply and which will make it supper rare in the future.

[GeorgeJohn]

It's clear that we can exchange Bitcoin with other goods and services, but the problem is that not everyone are familiar with cryptocurrency especially bitcoin the Father's of crypto, and currently many people has began to be afraid of Bitcoin because of the information circulating about Bitcoin concerning ban from different countries, now people just exchange materials or products with people who are interested to transact with Bitcoin.

[tranthidung]

Bitcoin , which is often described as cryptocurrency, a digital currency.is a type of money that is completely virtual.

Please stop using the world 'virtual' when you are referring to bitcoin. There is no real, fake or virtual bitcoin. Bitcoin is bitcoin, a unique cryptocurrency.

Virtual is used by governments and their media to create fear and uncertainty on locals. The ultimate goal is to prevent as many people as possible to accept bitcoin.

We can Bitcoin to buy product and services,but not all shops accept Bitcoin also some countries banned it altogether.

The adoption is increasing and you should know that when time goes on, the trust on the survival of bitcoin will increase.
The bullish case for bitcoin (Don't trust what the article writes, you can verify this fact with bitcoin price history).

Furthermore, the Lindy effect suggests that the longer Bitcoin remains in existence the greater society’s confidence that it will continue to exist long into the future. In other words, the societal trust of a new monetary good is asymptotic in nature, as is illustrated in the graph below:

In Bitcoin, users can send and receive payments to or from anyone on the network without waiting for an approval from the authorities.

Bitcoin transactions need to be confirmed by the network that is operated by bitcoin miners and full nodes.

Since Bitcoin transactions does not involve government,the cost of transaction will be low.

Bitcoin transaction fee is depended on its network (mempool) and the fee rates people set up for their transactions that are waiting for confirmations in the mempool. Governments have nothing to do with bitcoin transactions.

If there is anything, it is policies from governments to increase or decrease power cost and charge taxes on bitcoin mining activities. All of which in turn will affect bitcoin price in fiat value. At the end, transaction cost will rise or fall but such effects won't appear easily.

[seoincorporation]

The benefit of bitcoin is decentralization, it means no one has control over your coins. If the bank doesn't agree about how you get your money they can freeze your bank account, and if gov isn't agreed they can do the same. In the common economy, the banks and govs have the power, but this doesn't happen with bitcoin... This meme talks more than 1000 words:

And for me this is the real benefit of bitcoin.

[Slow death]

in my opinion one of the great advantages of bitcoin is the ease that a person has to be able to travel to any corner in the world without needing  having headaches with bureaucracy.

bitcoin besides being a good investment also has this advantage of saving the person from headaches, there is no bank manager who will complicate you when you want to move your money from one wallet to another.

in my country for the person to open a bank account the person stays 3 hours at the bank branch because the service is slow and there are many people

[repear7]

Bitcoin is decentralized cryptocurrency. Bitcoin can be use for sending payment by hiding your identity.

Also bitcoin is perfect for sending any borderless payment.

[jrrsparkles]

The real benefit of bitcoin is you are holding your money, you no need to trust banks and accept their terms to deposit in their banks, you no need to wait for days to make transaction over other countries and its better than gold because if you want you can convert them into fiat money when you need to pay for something where bitcoin is not accepted.

[batang_bitcoin]

Bitcoin , which is often described as cryptocurrency, a digital currency.is a type of money that is completely virtual.
We can Bitcoin to buy product and services,but not all shops accept Bitcoin also some countries banned it altogether.

Yeah, this is the reality that not all shops are accepting bitcoin because they still don't understand what it is all about. As for the other countries that have banned the usage of bitcoin into their countries, they're not many.

Bitcoin can be use to buy, send, deposit and also make withdrawals.
In Bitcoin, users can send and receive payments to or from anyone on the network without waiting for an approval from the authorities.

But it has to be confirmed by the network, by the miners.

Since Bitcoin transactions does not involve government,the cost of transaction will be low. Bitcoin user can pay for their coin anywhere when they internet access. This means those purchases Bitcoin don’t need to go bank or store to buy a product.

Yes, no need for the intervention of the government authorities and you're on your own and you can make yourself a bank by managing your wallet.

[BitcoinzB]

Yeah, this is the reality that not all shops are accepting bitcoin because they still don't understand what it is all about. As for the other countries that have banned the usage of bitcoin into their countries, they're not many.

I agree, but on a side note bitcoin has become more mainstream in the last years; it's hard to find someone who has totally no idea of what it is (maybe elders won't have a clue about it). I think what has kept most businesses out of this market until now is mainly the volatility in price of the coin.
It's not hard to accept payments in bitcoin, but a small business owner for sure doesn't like the chance that after a day that 10$ worth of coin have become 5$, especially since they have to restock paying in FIAT.