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Merits Of Bitcoins. In the world, we have different kinds of currency that we can use to transact our day to day businesses. Currency is good in that it enables transactions to be carried out without much hassle, imagine if we were to do business without currency. Due to the increase in the kinds of transactions that people engage in, there has been a discovery of alternative currencies that we can use apart from the normal government legal tender currency. Bitcoins is one of the alternatives to using normal currency and this is carried out through the computer with online connection. In the bitcoins currency, there is no central regulation authority like we have for the other kinds of currency. The major use of bitcoins is normally in internet sites for example you can buy a game using bitcoins or even buy items especially from the darknet markets. Bitcoins if held by for a while, they give a return on investment to you. There are bitcoins that you can hold, not just the usual virtual ones. Business people who operate online are enough opting for this kind of bitcoins currency because of the many benefits that come about with it. With bitcoins, you are not restricted as to who or where you can send it to. There are no disruptiona due to for example public holidays for banks and such like things since there is no central regulatory body for bitcoins. Another advantage of using bitcoins currency is that information is visible to all, there are no hidden transactions when using bitcoins and thus theft is minimized. Another advantage of bitcoins currency is that it is free from disruptions that the government can cause.
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Another major merit of bitcoins currency is the fact that there are no fees when you are transacting in bitcoin currency. The merchants are free to include some costs if they want the transaction to be treated special, the more the amount you commit the higher the priority level. Bitcoins are advantageous in that it is less risky, there is no fraud.
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This is a benefit in that there will be no fraud because of the existence of this ledger where everything is recorded in there which is commonly known as a block chain and this is unlike the normal currency where there is no such kind of a ledger. Due to the fact that there are no personal details required from you when making a purchase or a sale using bitcoins, then there are no possibilities for someone posing to be you and defrauding the buyer or a seller. As opposed to the normal currency that is regulated by the world bank,bitcoins has none of that. Security also comes in in that you can encrypt the bitcoin currency and thus will be harder for someone else to commit theft and use it.