Bitcoin is a huge deal right now, but not everyone understands why. More to the point, not everyone understands whether Bitcoin is to them and how they could get involved. Below are some of the most compelling reasons why you need to use Bitcoin.
More secure than banks
The Bitcoin algorithm is as close to bulletproof as a computer application can get. Some of the most excellent hackers and internet security experts have taken a crack at it, and so far, nobody can find any flaws. The Bitcoin Code has been described as masterfully written, the electronic equivalent to Shakespeare.
Banking transactions, meanwhile, are under a lower degree of security compared to Bitcoin. However, Bitcoin is the new, youthful upstart and needs to prove itself.
This makes Bitcoin a goal for people who would like to see it fail. Buy Bitcoin’s inventor Satoshi Nakamoto kept this in mind when writing the Bitcoin algorithm. Go ahead, with bitcoin price give it a shot. I don’t think you are going to be able to decipher it.
Lower service charges than banks
Banking institutions charge high rates per trade. The machine is installed so that individual transactions between two people are hopeless; they require a “trusted” third party to facilitate the trade. And the banks get to have a service charge for facilitating these transactions.
You can use escrow services with Bitcoin, which take a service charge, but you do not have to. Since Bitcoin is based on bitcoin price transactions, there are no service charges. Naturally, the banks are not a big fan of Bitcoin because of this.
Low risk of inflation
The amount of bitcoin price being created is put at a predetermined pace. What this means there’s no possibility of any government printing more cash to pay their debts off. Since Bitcoin is not attached to any government or central authority, it does not depend on any outside circumstances for its worth.