Archive for the ‘Currency’ Category

Bitcoin – A Popular Digital Currency

Bitcoin is a virtual currency that has become a popular term that is one kind of new currency, whose transactions are completed without any intermediaries. It does not require any transaction fees along with one’s real name. Nowadays, many merchants are starting to accept this currency. One may purchase webhosting services, manicures, or pizza.

Bitcoins could be used for purchasing the merchandise anonymously. Additionally, the international payments are cheap and easy, as bitcoins are not attached to the country along with subject to regulation. Small businesses might like them, as no fees for the credit card are required. Some individuals buy bitcoins for an investment in a hope that their value will be increased. Bitcoin is featured with a number of advantages and benefits over the use of localized currency. Some of the attractive advantages are described below:

Cheap and Quick Transactions: The Bitcoin transfer is associated with extremely low fees compared to the conventional methods to move money. A usual Bitcoin fee is 0.0005 BTC per transfer. On the other hand, a typical international wire transfer may be associated with the cost of 700THB-1300THB per transaction. Credit cards acceptance may usually cost transfer amount’s 3-5% that is more expensive compared to a Bitcoin transaction. International wire transfers could take a period of some days to higher than one week and Bitcoin transactions are usually confirmed within an hour.

Irreversible Transactions: The sole payment procedure that is 100% irreversible is Bitcoin and it cannot charge back. That is why; one must be very careful and cautious while sending Bitcoins. Make sure that you are delivering Bitcoins to the trusted vendors.

No Paperwork: Any individual of any country holding any age could accept the Bitcoins within a minor. No passport, no ID card, or address proof is required to open this account. One has to download a Bitcoin Wallet program to begin sending along with receiving the Bitcoins and can create a Bitcoin Address.

Appreciating Value: The Bitcoins’ value was highly volatile in the initial years of its inception. Nevertheless, in time of the last 6 months, this currency has been stabilized and it has been increasing steadily in the value on the regular basis.

Other advantages of Bitcoin are linked to the field of security and control, transparent information, payment freedom, lower merchant risks etc. If you are enthusiastic to know more details regarding Bitcoins, then visit the website bitcoinsprice.org.