We all know that Bitcoin is the new kind of currency, which has started to strike mainstream markets. The critics state that by using Біткойн is totally unsafe because –
- They aren’t regulated
- They are used to make the illegal transactions
- They haven’t got any authentic value
Still major players talk about the Bitcoins. Here given are a few good reasons why this is worth to use the crypto currency.
Fast payments – When the payments are been made by using the banks, transaction takes a few days, in the same way wire transfers take a very long time. Alternatively, the virtual currency transactions over Bitcoin are normally quite.
No confirmation” transactions can be instantaneous, where merchant accepts any risk that isn’t approved by the Bitcoin block-chain. Suppose the merchant wants an approval, transaction takes over 10 minutes. It is rapid than inter-banking transfer.
Inexpensive – The credit and debit card transactions will be instant, however, you are charged the fee for using such privilege. In Bitcoin transactions, fees are generally low, and a few cases, it’s totally free.
Nobody will take this away – Bitcoin actually is decentralized, thus no central authority will take away any percentage from the deposits.
No chargeback – When you trade Bitcoins, they’re gone. You can’t reclaim it without recipient’s consent. Therefore, it becomes really difficult to commit chargeback fraud that is quite often experienced by the people with the credit cards.
People buy goods and when they find defective, they will contact the credit cards agency for making the chargeback, effectively reversing their transaction. Credit Card Company will do it or charge you costly chargeback fee that will range from $5 to $15.