Bitcoin has been a buzz word soon after its introduction in 2009. It is a cryptocurrency and has gained popularity at par with traditional currencies. Though other crypto currencies exist in the financial system, Bitcoin stand out from the rest and reached out to users widely.
Let us see what the key advantages with Bitcoins are.
Bitcoin can be exchanged directly for fiat currencies. It has better liquidity when compared to other cryptocurrencies. This permits the user to keep its innate value when converting for fiat currencies. You don’t lose sizeable value while exchanging. So, this cryptocurrency is more like other fiat currencies. Bitcoin value in relation to other countries currencies can be found out using Bitcoin converters like $ to inr etc.
Other advantage is if you want to use this currency in other countries, you have no international transaction fee. Cross border transactions can be done with Bitcoins so easily than other cryptocurrencies because of its popularity.
Further, Bitcoins are widely accepted as payment method than other cryptocurrencies. When you want to purchase any item online from many of the stores, under payment options, you can see this cryptocurrency listed as one of the options.
Other attracting feature with Bitcoins is low transaction fees. Unlike other digital money transaction fees, here the fee is very nominal.
If you want privacy and anonymity in financial dealings, Bitcoin is the best option. Because it is completely decentralized with no central bank control, no one can track your transactions. If you have fiat currencies in online banking accounts, everything will be tracked.
The above advantages have made Bitcoins become more popular in short span of time.