If we define “Bitcoins” in its pure essence, it is money. In fact, it is digital currency that serves the same purposes as well as functions as money. Anything can be purchased by using Bitcoins. What’s more? Not only can you make online purchases, but complete your transaction as well by paying Bitcoins.
Here are the three interesting benefits that you get when you buy Bitcoins:
1. Fast and Reasonable Transactions
When you’re making a Bitcoin transfer, it might be surprising for you to know that fees are awfully low when compared to other conventional money transferring methods. Know that a normal Bitcoin fee is 0.0005 BTC per transfer. Accepting credit cards will usually cost you 3-5% of the amount needed to be transferred, which is much more costly than a transaction made with a Bitcoin.
It’s important for you to know that international wire transfers can take days or even a week to be completely finished. On the other hand, Bitcoin transaction does not take more than an hour to be confirmed.
2. Irreversible Transactions
Existing merchants very well know the fact that when accepting credit card payments or even bank transfers, the sender can reverse or “chargeback” the payment made.
What can be more worse than to know that the payment has been reversed when sending products to a customer? Don’t you feel you have been cheated? Obviously! There’s nothing you can do much about it.
So, you can get free Bitcoin as it is the only method for making payments that is 100% irreversible and therefore, can’t be charged back. Be careful when you’re sending Bitcoins because they should be sent to a vendor you can rely on.
3. No Paperwork
Regardless of the country a person belongs to, Bitcoins can be accepted within minutes. There’s no need for ID card, passport or proof of address required as required by every other conventional bank in order to open an account. All you have to do is start sending and receiving free Bitcoins is to get a Bitcoin Wallet Program downloaded followed by the generation of a Bitcoin address.
There’s no denying the fact that Bitcoin trading is taking over the world of trading by storm, as more and more people are beginning to rely on this “cryptocurrency” – a digital form of payment that’s mined by many individuals all around the world.