9 Reasons Why I Use Bitcoin!!!

hand holding a bitcoin physical coin

The modern era we live in has managed to make us revise many conventional contexts where it was formerly considered science fiction. We all know that money is a means of trading and nothing else. Yet we need it to such an extent that we have managed to enslave our selves.

Finally, to put technology in the service of the full economic freedom of the individual, without intermediaries, hidden charges and constant devaluations. As a user of Bitcoin technology and similar digital currencies, I want to mention 9 reasons that made me approach it, to know it and finally to use it.

1. Freedom of payments

​It is possible to send and receive any amount of money immediately, anywhere in the world, at any time. No holidays. Without Borders. Without limits imposed. Bitcoin allows its users to have full control over their money. It allows them to purchase anything they want (hosting, domain names, furniture from overstock.com, gift cards etc) without any middleman knowing what you do and checking your accounts.

2. Very low fees

Currently, Bitcoin payments are made with either zero or extremely low fees. Users may include fees in their transactions in order to have priority in processing, which results in faster validation of transactions from the network. In addition, processors for traders are there to assist them in processing payments, converting bitcoins into credit money and depositing funds directly into traders bank accounts every day. As these services are based on Bitcoin, they can be offered with much lower fees than PayPal or credit/debit card networks.

3. Fewer risks to traders

Bitcoin transactions are safe, irreversible and do not contain any personal information or sensitive personal data of customers. This protects merchants from damage caused by fraud or fraudulent chargebacks charging (chargebacks) and there is no need for PCI compatibility. Traders can easily expand to new markets where either credit cards are not available, or the fraud rates are unacceptably high. The results in net profit are lower fees, larger markets and fewer administrative costs.

4. Security and Control

Bitcoin users have full control over their transactions. It is impractical for traders to impose undesirable or undetected charges as may occur with other payment methods. Bitcoin payments can be carried out without any personal information associated with the transaction. This offers strong protection against identity theft. Bitcoin users can also protect their hard-earned money with backups and encryption.

5. Transparent and neutral

All information regarding the supply of Bitcoin with money is readily available in the blockchain for anyone to confirm and use in real time. No individual or organization can control or forge the Bitcoin protocol because it is cryptographically secure. This allows the core of Bitcoin to be trustworthy since it is completely neutral, transparent and predictable.

6. Global Currency

With Bitcoin you can literally go to any part of the world by travelling and not carrying a credit/debit card or even cash to travel. You're no longer worried about someone stealing the money you carry or imposing restrictions on the amount you're allowed to have. Especially this is great advantage over cash.

7. Non-inflationary currency

The exact number of their creation does not allow the inflationary pressures we have with conventional currencies, hence the respective financial risks.

8. Autonomy

It is not produced by a central bank so no one is controlling it beyond yourself, you choose what to do with it and when to use it without being obligated.

9. It is not taxable

According to the Last Judgment of the European Court of Justice it cannot be taxed as a currency or as a possession of an asset. The products we obtain are taxed in accordance with the relevant tax legislation of the country We acquire.

Image by annca from Pixabay

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