Merits Of Bitcoins. Different methods of payment for good and services that you buy do exist and you can use any according to where you are. The benefit of having a currency is that it eases the way we do business, if there was no currency, then it would be a nightmare to do business. Withnthe advancement in time, people have become more creative and have come up with simpler ways to do business without using the usual currency we are used to. One such kind is through us of bitcoins which is a digital system of payment that works through the internet. For the bitcoins currency, there is no regulatory body that controls how things are done as for the normal government legal tender. Bitcoins are used by individuals to pay for goods and services via the internet. Another feature of bitcoins is that it is an investment opportunity just like other currencies, you can hold it for a while and you will get returns. Although bitcoins are mainly online, there are some physical forms of this currency. Most people nowadays are now shifting to the use of these bitcoins to transact because of the many benefits that it has. With bitcoins, you are not restricted as to who or where you can send it to. There are no disruptiona due to for example public holidays for banks and such like things since there is no central regulatory body for bitcoins. Data about a transaction are available and thus fraud is minimized. Information is also transparent in that there are no government interruptions that might affect the business.
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The absence of there being some processing costs and fees in the use of bitcoins is an advantage to the business. The merchants are free to include some costs if they want the transaction to be treated special, the more the amount you commit the higher the priority level. There is also the issue of less risks for the merchants due to the various advantages for example since there is no personal information that is leaked, then you are secure, you cannot be tracked in any way.
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All business activities that have been done by using bitcoins currency are recorded in a certain book and therefore you can confirm anytime you want. Another advantage of using bitcoins currency to transact is the security that it offers, for example there will be no personal details that you will need and this goes a long way in preventing identity theft. As opposed to the normal currency that is regulated by the world bank,bitcoins has none of that. To prevent using of bitcoins you own by someone to do uncouth things, you can put a password or code.