Bitcoin is the world’s first decentralized cryptocurrency, a form of electronic cash. The system works without a central bank or administrator. They are sent between individuals on the peer-to-peer bitcoin network directly, without the need for intermediaries. More at Wikipedia
Bitcoins make it possible for buyers to complete their payments without divulging any sensitive financial information (like credit or debit card details) to the seller. Thus, they enjoy a certain degree of financial anonymity that most credit cards fail to offer. Bitcoins act more like a digital cash that hackers cannot intercept in any possible manner. At the same time, your identity is also concealed for good. This helps a lot in preventing targeted data breaches like the UPS Store breach.
No Risk of Inflation
With bitcoins, there’s basically zero risks of inflation, which usually occurs when the Government issues more money over the year. Not so with Bitcoin.
With bitcoins, there’s basically zero risks of inflation
Inflation usually occurs when the Government issues more money over the year, decreasing the purchasing power of the people, on the whole.
But the bitcoin system was created with the sole purpose of being finite (and that number is speculated to be around 21 million). Thus, without the possibilities of issuing excess currency, the threat of inflation comes down to almost zero. This point benefits both the seller and the buyer, in general.
It’s so cheap! Like….really cheap. As congestion sometimes appears on the network these will go up or down. To find out current fees, click here: Fees
As far as international transportation of bitcoins is concerned, the job is as easy as a piece of cake. All you will need is a simple memory stick* and you are sorted enough for the job.
You can even use the same currency in a different country without going through the pains of contacting the local bank for any purpose of currency conversions. If this doesn’t count as a benefit, what does?
*Note: You use the memory stick for transporting bitcoins in it in the same way you do audio, video, executable programs, and other related data.
The entire process of bitcoin transactions is peer to peer. There’s no involvement of a third party.
A full node is a program that fully validates transactions and blocks. Almost all full nodes also help the network by accepting transactions and blocks from other full nodes, validating those transactions and blocks, and then relaying them to further full nodes.
Global Bitcoin machines
A Bitcoin ATM is a kiosk that allows a person to purchase Bitcoin by using cash or debit card. Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash. In some cases, Bitcoin ATM providers require users to have an existing account to transact on the machine.
Control and ownership of your personal assets, no middle people.
Cold storage is a device or piece of paper that keeps your Bitcoin off line, because you only want to keep a small amount on your phone. Think of it as your traditional wallet, which we now call our, “Bitcoin wallet”.