What is a Bitcoin
Bitcoin is a virtual currency used to make secure fast purchases worldwide. It is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
Why Should I buy Bitcoins
Bitcoins operate independently from world governments and are not effected by political turbulence or economic instability making it a more stable and secure way to keep your money. Transferring it anywhere in the world is instant, secure and best of all you don’t need to go to through the bank or money transfer companies. You don’t have to pay fees on your hard earned cash. it is also more secure to store provided you follow simple security measures. Don’t worry about fire, floods or forgetting them in the dryer. You can access them in a secure wallet on your phone or computer .
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Mobile Payments Made Easy
Bitcoin on mobiles allows you to pay with a simple two step scan-and-pay. No need to sign up, swipe your card, type a PIN, or sign anything. All you need to receive Bitcoin payments is to display the QR code in your Bitcoin wallet app and let your friend scan your mobile, or touch the two phones together (using NFC radio technology).
Security And Control Over Your Money
Bitcoin transactions are secured by military grade cryptography. Nobody can charge you money or make a payment on your behalf. So long as you take the required steps to protect your wallet, Bitcoin can give you control over your money and a strong level of protection against many types of fraud.
Works Everywhere, Anytime
Just like with email, you don’t need to ask your family to use the same software or the same service providers. Just let them stick to their own favorites. No problem there; they are all compatible as they use the same open technology. The Bitcoin network never sleeps, even on holidays!
Fast International Payments
Sending bitcoins across borders is as easy as sending them across the street. There are no banks to make you wait three business days, and no extra fees for making an international transfer, and there is no special limitations on the minimum or maximum amount you can send.
Choose Your Own Fees
No fee to receive bitcoins. Many wallets let you control how large a fee to pay when spending. Most wallets have reasonable default fees, and higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred. Send 100,000 bitcoins for the same fee it costs to send 1 bitcoin.
Protect Your Identity
With Bitcoin, there is no credit card number that some malicious actor can collect in order to impersonate you. In fact, it is even possible to send a payment without revealing your identity, almost like with physical money. You should however take note that some effort can be required to protect your privacy.
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