4 Prominent Advantages of Bitcoin As a Cryptocurrency

When someone mentions cryptocurrencies, Bitcoins quickly spring to mind. People have been talking about Bitcoins for the last few years. When it was in its initial stages, people were skeptical about buying or using it. But the majority of the world population has developed trust in it, although some skepticism still exist. Ether is also another type of cryptocurrency, and together with Bitcoin, they run on the blockchain technology, which provides the highest level of reliability and security. Without further talk, let’s look at the advantages of using Bitcoins for your online transactions:

· Bitcoins transactions are quick

Today, people are increasingly using Bitcoins to buy property. Buying property is daunting. You need third parties like notary and lawyers to be able to close the deal. Therefore, cases of delays and increased costs are commonplace. On the contrary, Bitcoin transactions are peer-to-peer, which means you’ll not need a third party to okay the transaction.

· You benefit from lower fees when you transact using Bitcoins

No fees are charged when you want to exchange Bitcoins or other cryptocurrencies. Miners get paid by the platform to verify transactions. While there are zero transaction fees to exchange Bitcoin, most people use the services of third parties, such as Coinbase and MyWallet to create and maintain their wallets. A typical example of how Bitcoin works would be PayPal.

· Everyone can use Bitcoins to transact online

Bitcoin is an open network, which means anyone can create a wallet and start transacting online. You only need your bank account to receive funds if you want to cash out your coins. Today, there are more than 2.2 billion people online, which means there are not enough third party payment systems that can satisfy this demand. Bitcoin can comfortably satisfy this demand.

· There is greater decentralization with Bitcoins

Bitcoin runs on a computer network known as blockchain technology. Ideally, this technology administers Bitcoin’s database, which means there is no central authority that regulates it. So when transacting with Bitcoin, you will have a piece of mind knowing that you don’t have to go through a decentralized system like a bank, which can take days for your transaction to go through.


The fact that Bitcoin is recognized worldwide means it a good channel to buy and sell items online. You can also trade Bitcoins by buying when the price plummets and selling when the price skyrockets. You can create a lot of wealth through Bitcoin today.