Pros of Bitcoin

Bitcoin has numerous benefits and advantages over using localized currency; we will discuss some of the biggest advantages.

Irreversible Transactions

As existing merchants will be well aware, when accepting credit card payments, or even bank payments the sender has the ability to reverse or “chargeback” the payment. There is nothing worse than sending products to a customer, only to receive a message that the payment has been reversed, you have been cheated and there is nothing you can do about it.

Bitcoin is the only payment method that is 100% irreversible and cannot be charged back. For this reason you should be careful when sending Bitcoins; be sure that you are sending them to a trusted vendor.

No Paperwork

Anyone, from any country, of any age can accept Bitcoins within minutes. There is no ID card, passport or proof of address that all conventional banks required to open an account. All you need to do to start sending and receiving Bitcoins is to download a Bitcoin Wallet program and generate a Bitcoin Address.

You could have 1000s of different addresses if you wanted, there is no limit to the number of Bitcoin Addresses that you can have.

Appreciating Value

As you can see from the Bitcoin exchange value graph shown on our homepage, the value of Bitcoins were initially highly volatile during the first few years of it’s inception, however during the last 6 months the currency has stabilized and has been steadily increasing in value on a daily basis.

Quick and Cheap Transactions

When making a Bitcoin transfer the fees are extremely low compared to conventional methods of moving money. A normal Bitcoin fee is 0.0005 BTC per transfer, whereas with a typically international wire transfer you could expect to pay 700THB-1300THB per transaction. Accepting credit cards will generally cost 3-5% of the transfer amount, which again is much more expensive than a Bitcoin transaction.

International wire transfers can take from a few days to more than a week, whereas Bitcoin transactions are generally confirmed with an hour.

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Control over your money

Bitcoin transactions are highly secured. Nobody can charge you money or make a payment on your behalf. So long as you take the required steps to protect your wallet, Bitcoin can give you control over your money and a strong level of protection against many types of fraud.

Everywhere and anytime

Bitcoin in universal. You don’t need specific software or clients. Only bitcoin wallet address. Add to your favorites and send Bitcoin with one click. The bitcoin is up always – 24 hours, 365 days a year. Of course, the internet must be on…

Sending international payments – fast and cheap

Sending bitcoins across continents is as easy as sending them across the street. There are no banks in our way to make you wait 2-3 business days, no extra fees for making an international transfer, and no special limitations on the minimum or maximum amount you can send.

Choose your own fees

Receiving bitcoin is free! Most wallets have low default fees, and higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred, so it’s possible to send 1000 bitcoins for the same fee it costs to send 1 bitcoin.

Protect your identity

With Bitcoin, there is no credit card number that some malicious actor can collect in order to impersonate you. In fact, it is even possible to send a payment without revealing your identity, almost like with physical money. You should however take note that some effort can be required to protect your privacy.

Mobile payments the easy way

Bitcoin on mobile cell phones allow you to pay with a simple two steps: first scan then pay. No need to sign up, swipe your card, type a PIN, or sign. All you need to do in order to receive Bitcoin payments is to display the QR code in your Bitcoin wallet app and let your clients scan your smart phone, or use the built NFC radio technology.