Bitcoin is a form of virtual currency that is traded for goods and services on the internet. It is an innovative, decentralized payment system that has yet to be fully integrated into the mainstream economy. The currency has some interesting characteristics that make it more desirable than other forms of money:
No Government – Bitcoin is the currency of an anonymous, private country that functions in an opaque manner. There is no central bank or government of this country, and it is not insured by the US Government. Because of this, there is no need for American Dollars or any other currency in this country. This makes this kind of money very much attractive to people who are concerned about their privacy.
Easy To Use – Although you do pay transaction fees, it is worth paying these small transaction fees when you know that the transactions are irreversible. The price of Bitcoin is based on the number of Bitcoins that are in circulation. There is no limit to the number of Bitcoins that can be bought and sold at any given time.
High Speed Internet – For many years, the cost of sending and receiving money has been sky-high and people have had to use slow fax machines and over-priced retail outlets to send or receive money. By using the internet, people are now able to purchase anything they need instantly, and with the fast speed of the internet, you can even buy a pizza or coffee in minutes.
Strong Support – There is strong support from many people and companies for the value of Bitcoin. Many companies are now accepting Bitcoin as payment, and there are many more companies that are developing systems to integrate this currency. You may even be able to buy your car with Bitcoin, and there are companies that sell electronics, cell phones, and other items for Bitcoin.
Risk Profile – The risks associated with purchasing Bitcoin are minimal. Because there is no third party that is responsible for you purchasing your Bitcoins, there is no risk of your computer or laptop getting infected with malware.
So, if you are looking for some good things about Bitcoin, then you should definitely take a look at it. It is fast, safe, and has high privacy and security, which make it great for buying and selling. If you want to learn more about the history of Bitcoin, and how it works, you should check out this site that is hosted by bitcoin expert and founder of CoinTelegraph, Andreas Antonopoulos.