Why invest or buy bitcoin

Why invest or buy bitcoin

Why invest or buy bitcoin?

Ten good reasons to buy or use Bitcoin.

Now that we’ve figured out what the bitcoin and other virtual currencies are, and how they work, it would be interesting to know what it’s worth to own or use the bitcoin. Here are a few reasons.

1- The bitcoin is faster.

A bitcoin transaction is extremely fast:

If you wish to send a check from your bank to another bank, it will usually take several days to confirm the transaction because the bank that receives your check will have to make sure that you have the equivalent amount in your account.

If it is a transfer abroad, it will also take some time.

If you want to buy a merchandise and decide to pay it in bitcoin, the transaction will be instantaneous if the merchant takes the risk to accept the transaction without it being validated by the blockchain. Otherwise it will take about ten minutes.

But, you will say, with a bank card it is also instant no? Yes but it’s more expensive!

2- The bitcoin is cheap.

In the case of a transaction between you and a seller, the seller will have to pay a commission. And some sellers will want to recover this commission by making you pay in its sale price!

For the bitcoin, fees are in many cases non-existent or very low.

3- No organism can seize your bitcoin.

In 1999 the Franc was replaced by the Euro, thus obliging all those who still had the Franks in cash to have to exchange them. In India the government decides to cancel the five hundred Rupee tickets, which means that those who owned these tickets simply lost them! In March 2013, the Cypriot central bank decided to recover unsecured deposits of more than one million in order to recapitalize itself. They want to take a percentage of the deposits below this amount, which means they make a drain on the economies of the Cypriot families!

With the bitcoin, this can not happen, because no central authority has any control over your bitcoin, state, or bank. There is no centralized body in this monetary system. No one can seize them!

4- You can not cancel a transaction in bitcoin.

That is, a Bitcoin sent is a received Bitcoin!

When someone pays in bitcoin, he can not retrieve them unless well on the recipient agrees.

This is a big advantage for sellers because it prevents fraudsters from buying products with a credit card and then cancel the transaction once the product is recovered.

5- With the bitcoin you can not steal your coordinates.

How often, to make a purchase or payment, you ask for the details of your credit card with all possible details, including the secret code on the back of your card?

And how many times are these coordinates stolen and used for a dishonest purpose?

When you perform a transaction in bitcoin, you do not give any information, but you use two keys, one private and one public, your private key remaining totally secret.

At the time of your transaction, you combine your two keys through an algorithm that proves that it is you who make the transaction, and therefore this one is totally secure.

6-The bitcoin is not subject to inflation.

A state may decide at any time to print as many notes as it wishes (to pay the national debt, for example), which will directly reduce the value of this currency, automatically raising prices, decline in purchasing power.

The bitcoin, it was conceived from the start to be issued only to 21 million units.

It will therefore not be subject to inflation!

7- Your transaction in Bitcoin remains private.

If you do not want to know that you are behind a transaction for reasons of discretion or for any other reason, you can remain totally anonymous.

That is to say that everyone knows if you own the bitcoin needed for your transaction and if they are yours.

But no one will know who is the real owner of these bitcoin. This is of course completely impossible with the current banking system.

It’s like you have a transparent wallet: nobody knows the owner of the purse, but everyone sees what’s in it!

8- With the bitcoin no need to put your trust in a third party.

In the current system, you have to trust the bank that will manage your money, trust him also when you make an online payment. But you also have to trust the seller to whom you transmit all your personal details.

With the bitcoin, you no longer need to trust them because your transactions are signed with your personal key and verified by thousands of anonymous computers.

The seller does not need to know who you are if you do not want it.

9-You have full ownership of your bitcoin.

Today for electronic payments your account belongs to someone other than you. For example: if for some reason the credit society decides to suspend your account, it can do so without notifying you, without asking your opinion, without even giving you an explanation.

It will then be up to you to prove your good faith to have access to your private funds again.

With the bitcoin the owner of the funds is the only one to own the private key and is therefore the sole owner of its bitcoin.

No one can seize them or block them.

10- The value of the bitcoin.

Today the number of traders who accept transactions in bitcoin is increasing as well as the number of users.

On the foreign exchange market the volume of trade is also rising, and some predict that its price will reach half a million dollars in 2030 !!!

That is to say that if you buy for 100 € of bitcoin at the current price, you will get in 2030 the sum of 39062.5 € !!!

All these reasons, as you will have understood, make it very interesting to use or buy bitcoin, this relatively recent virtual currency, but which is by no means the only one on the market. market.

We will discuss this in a future article.

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