There are numerous advantages of Bitcoin such as –
- Freedom of Payment – This is one of the biggest advantages of Bitcoin. You can send and receive bitcoins anytime across the world. No bureaucracy, borders, and bank holidays.
- Choose Your Fees – The amount transfer is not related to fees. No fees is charged to receive bitcoins. Merchants can process transactions by converting bitcoins to other currency and deposit funds into their accounts on a daily basis. By using PayPal or other networks, they will be charged with lower fees.
- Security – Bitcoin payments are much secure as compared to other payment methods. These can be made without any personal information and also protect the money with encryption.
- Fewer Risks for Merchants – For merchants, Bitcoin transactions are pretty much secured. This protects the merchant’s losses that is caused by fraudulent chargebacks. They can easily reach to the new markets without credit cards. Therefore, bitcoin transaction means reach to larger markets and lower fees.
- Transparent and Neutral – The information related to Bitcoin money supply is all recorded on the block chain real time. It is difficult to control the Bitcoin as it is cryptographically secure.