Bitcoin is a next generation crypto currency, it is a kind of digital currency, which is electronically created and held. There is no individual controlling the same and neither is it printed like other currencies in the world. Bitcoin are produced by people. It is the most popular decentralized virtual currency.
Benefits of Bitcoin
- Freedom in Payment: – The restriction of bank holidays or border or bureaucracy is not an option in Bitcoin system. You can send and receive Bitcoin anywhere and anytime in the world
- Secured: – The Bitcoin user have the full control over the transactions, it is impossible for merchants to charge a single penny unwanted or unnoticed. There is no need of personal details for doing any transaction and over that with backup and encryption the Bitcoin user can protect the money also.
- Transparency: – In block chain any user can check all kind of information about his Bitcoin money supply. The user can verify and use the same in real time. As this system is cryptographically secured, no individual or organization can ever control or manipulate the protocol, making it the most trusted, neutral and transparent.
- Easy Setup: – It is a whole day work to open a simple account in any conventional banks, dozens of paper needs to be signed, need to put all the details every time and over that its mandatory to keep certain amount in the account every time, but with Bitcoin, the setup can be done in seconds, with no questions or fees.
- Transaction Charges: – Did you ever check how much does your bank charges you for the transactions, just check it out in an international transfer. But with Bitcoin, transfer any number of times in any place of the world; it’s totally free of cost and it’s fast too.
Difference from Normal Currencies
Bitcoin can be use for electronic transactions, like other currencies, dollars or pound or yen are used for digital trading, like wise Bitcoin can also be used but the benefit is that you can buy or send Bitcoin at any point of time irrespective of day, time or place. It is of decentralized characteristics and no one a person or organization is controlling it.
Security in Near Future
No currency can provide security; any of the powerful currency in the world may become useless like German Mark during the Weimar Republic and recently the Zimbabwean dollar. The main cause behind the fall these currencies are hyperinflation which is impossible in the case of Bitcoin but as we all know there is always technical failures, competition, political issues etc, as no currency is safe from failure. Since its inception Bitcoin has grown and shown lot of potentiality in the market.
Bitcoin (BTC/USD) Rates
Today’s Bitcoin rate is 664.08 US Dollar for 1 Bitcoin. The rate of the Bitcoin majorly depends upon the demand and supply of the service. More demand on Bitcoin more the price will rise and vice a versa.
So if you want to invest in some safe place than Bitcoin is the best place for the same as it is most secured and you can use the money anytime, anywhere irrespective of day, time place.