By Royce Kamari
Bitcoin is a big problem now, but not everyone understands the reason. More importantly, not everyone understands whether Bitcoin is for them or not, and how they can get involved. Here are some of the most interesting reasons why you should use Bitcoin.
Safer than banks
The Bitcoin algorithm is very close to bulletproof because the computer program can be obtained. Some of the best hackers and online security experts have taken gaps, and so far no one can find weaknesses. The bitcoin code has been described as reinforced, digital equivalent with Shakespeare.
Banking transactions, meanwhile, are below the lower level of security than Bitcoin. In many ways, Bitcoin must be safer than the bank. However, the bank has existed for centuries, and people understand how it works. But Bitcoin is a new, young beginner, and needs to prove himself.
It makes Bitcoin a target for those who want to see it fail. But the inventor of Bitcoin Satoshi Nakamoto considered this when writing the Bitcoin algorithm. Please, try it. I don’t think you will be able to solve it.
Lower service fees than banks
Banking institutions charge high rates per transaction. The system is set in a way that individual transactions between two people are impossible; They need a “trusted” third party to facilitate transactions. And, of course, banks can take service fees to facilitate this transaction.
You can use the Escrow service with Bitcoin which takes service fees, but you don’t need to. Because Bitcoin is based on P2P transactions, there are no service fees. Naturally, banks are not Bitcoin fans because of this.
Low inflation risk
The number of Bitcoin made is set at the specified level. What that means there is no possibility to print more money to pay off their debt.
While the real world currency lost a small portion of their value every year, the price of Bitcoin seems to be even more high.
Risk of low collapse
When your currency is installed on the government, it depends on the stability of the government. You and I both know the government can fall, and when they do the currency they print sometimes can be worthless. Look at the bill in your wallet. You work hard for them. Can you imagine them one day to be cheaper than paper printed?
Because Bitcoin is not bound to government or central authority, it does not depend on any circumstances for its value. During the internet there, Bitcoin will continue to exist and is worth.
