Cryptocurrency has taken the world by storm over the last few years. It’s now considered a medium of exchange in many countries, especially in the United States. Today, there are many kinds of cryptocurrencies, such as Etherium, Litecoin, Bitcoin, and more. But Bitcoin is the first crypto used, created in 2009, and is also known as The Original Crypto. It was supposed to be used as a peer-to-peer cash system, but it also attracted investors as a store of value currency instead of gold.
Bitcoin was created by Satoshi Nakamoto in 2008, who is an anonymous author that nobody knows the true identity of. And as Bitcoin blew up, its value also skyrocketed, with one Bitcoin equivalent to more than $30,000. If you want to learn more about buying Bitcoins, you can check out https://buybitcoins101.com for more information. But what are its many advantages? Let’s find out here.
Autonomy & Discretion
What most people like about Bitcoin is they have full control of their money. Whatever they want to do with it, nobody can question them. Those who use Bitcoin or digital currencies have complete autonomy over their own money compared to other currencies. You can spend your money without having to deal with an intermediary, such as a bank or the government.
Aside from user autonomy, Bitcoin purchases and transactions are discreet. A Bitcoin user wouldn’t have to worry about his purchases being traced back to them unless they choose to publish it for the world to see. Even though Bitcoin is not entirely anonymous, it’s much less likely for these transactions to be linked to a personal identity compared to other currencies, which anyone can easily trace back to you via bank transactions and more.
No More Banking Fees & Low Transaction Fees for Overseas Payments
What we all hate about using fiat currencies are the banking fees that come with it. Depending on the amount, you can be paying large amounts of bank fees in just one transaction. There are overdraft charges and return deposit fees you need to pay for. Aside from that, you also need to have maintained a minimum balance. You will be paying for that minimum balance and account maintenance too. You no longer have to worry about a litany of traditional banking fees.
Aside from the many bank fees, international payments are also another problem for paying for exchange costs and many other fees. But when you choose to use Bitcoin, the cost for these kinds of transactions is very low because there are no intermediary institutions involved. Plus, there are no waiting periods for Bitcoin. It is quick and easy.