Bitcoins and their usage are one of the biggest buzzwords these days. Everyone around the world is looking forward to making some investment in bitcoins. 

Every day the crypto world is covered with huge investments made by a particular person in purchasing bitcoins. 

While reading news and checking platforms for Bitcoin marketing, you must have thought, why not purchase some bitcoins. Every one of us goes through this phase. While people who gain proper insights and knowledge about bitcoins try their luck, others hear rumors about bitcoins, and they find the method to be scary.

No doubt, the cryptocurrency market and especially the bitcoin market is volatile. Still, the truth is that people worldwide are using bitcoins, and they find it one of the most convenient currencies.

What are bitcoins?

Bitcoins are a type of cryptocurrency that is stored in the electronic or digital form. Unlike traditional currencies, bitcoins don’t have to be controlled by any centralized agencies. Anyone from any part of the world can easily transact in bitcoins. 

So, let’s get to know why you should use bitcoins!

Why use bitcoins?

In the year 2008, Satoshi Nakamoto started and discovered bitcoins as an alternative currency for this new digitalized world. Unlike other payment methods, bitcoins are pretty convenient to use, and you can use it to make payments in any parts of the world without any additional charges.

One of the biggest advantages of bitcoins (especially for merchants) is that the bitcoin payments are irreversible. Thus, if you have made payment in bitcoins, you can ask it back. This is beneficial for merchants as the payment made by customers can’t be returned back. 

Bitcoin is also beneficial for customers and users as users can purchase products from different merchants, no matter if they are domestically located or are located abroad. Most users find bitcoins to be a convenient method of payment abroad, as no conversion fee has to be paid. In addition to this, a very low transaction fee is needed if you are making payments in bitcoins. 

The details of the payment you make through bitcoins are also encrypted, and your private data won’t be out in the world. Thus, a safe payment system and the encrypted format make bitcoin one of the best payment methods for people worldwide.   

Although bitcoins suffer from few disadvantages like increasing fees and volatile nature of price and also the issue of network and traffic bottlenecks, bitcoins are still considered as one of the best currencies that will change the future of the crypto world. 

Another major disadvantage associated with bitcoins is that not all countries accept payment in bitcoins. Thus, governments from certain countries do not permit bitcoin transactions in their country. Until all countries around the world get approval for bitcoin transactions, it can’t be given the status of universal currency. 

Few countries have increased oversight and bitcoins regulation to prevent any chances of money laundering and other illegal activities.

No matter how many disadvantages bitcoins have, it is still considered to be one of the most convenient currencies discovered. 

In many parts of the world, bitcoin is considered the cheapest and easy way to transfer money across the border. Thus, many remittances setups are using bitcoins to send money across borders. 

Bitcoin is considered an efficient currency in terms of cost as well as speed. This means you don’t have to wait for days until the transaction will get completed. 

Today small as well as big businesses are accepting payment in bitcoins. In this digitally active world, people like activities to be simple and straightforward. Without the interference of any central authority, Bitcoin is considered one of the best digital currencies that will disrupt and change the way currencies operate. 

Thus, if you haven’t tried using bitcoins yet, don’t wait for too long; start making easy and convenient payment by using bitcoins. 

Since the surge in Corona cases, the world has seen an upward trend in investment and transaction in bitcoins, and it’s time you should invest in bitcoins. 

But, before you plan to start paying and investments in bitcoins, it is important to pay attention to every little detail and get as much knowledge you want about bitcoins as you can. Let us know if this article helped you to know how to use bitcoins.

By Eddy

Eddy is the editorial columnist in Business Fundas, and oversees partner relationships. He posts articles of partners on various topics related to strategy, marketing, supply chain, technology management, social media, e-business, finance, economics and operations management. The articles posted are copyrighted under a Creative Commons unported license 4.0. To contact him, please direct your emails to [email protected].