Bitcoin and cryptocurrencies have become the hot new buzzwords in technology and banking sectors. This new revolutionary form of currency is really stirring up the conversation about how people can handle their money. Despite the hype, there is still some skepticism around bitcoins. So what is it actually like to own bitcoins (or cryptocurrencies, in general)? What are some of the perks, per se? Well…
After you have purchased bitcoins, access is completely yours; no one else can access your bitcoins, meaning you do not have to worry about third party involvement at all. Pretty nice, right? Unless users make their wallet addresses public, transactions are completely private and safe.
Even if users did make their wallet addresses accessible to the public, no one would be able to trace transactions back to them, thus still keeping the amount of bitcoins any single user has anonymous. Wallet addresses can also be easily regenerated, increasing privacy of your money when compared to traditional currency systems.
With this high level of privacy, it makes it very difficult to steal bitcoins. It is only possible to steal Bitcoins if someone physically has access to a user’s computer, mobile device, etc. where their account can be accessed, and they send the bitcoins to their private account directly. Sounds like mission impossible, almost.
Besides being safe and secure, bitcoins are also easy to send. You can send bitcoin directly to anyone in the world and fast, including international transactions as well. All bitcoin transactions incredibly efficient. You do not need to wait for days on end for wire transfers to clear with the bank.
Once you have made your bitcoin transaction, you also avoid the risk of charge-backs. Bitcoin transactions are irreversible. When a transaction is made, only the bitcoin receiver as access to the associated private key. They are the only person that can change the ownership of the bitcoins. This ensures that there is no risk involved when receiving bitcoins.
On top of that, did you know that bitcoins are tax-free? With no third-party interactions, there is no viable way to implement a tax system over bitcoins.
Are you convinced now? Curious to give bitcoin a try? We at Bitmoney.eu have created a platform that makes purchasing bitcoin easy and accessible to everyone. Visit our site to make your first (hopefully of many) bitcoin transaction. Experience what it is like to own this incredible breakthrough currency today!