Bitcoin Digital Currency: Advantages and Disadvantages

The absence of intermediaries in bitcoin transactions and the involvement of parties to a business is a milestone that amplifies its position in the currency platform.

The bitcoin ecosystem is characterized by its decentralized way, which is the opposite of the current monetary system. The transaction platform operates without a central body or control center.

Bitcoin is a digital currency that uses a technology called Blockchain, which allows payment and trading operations with various types of assets.

Bitcoin founded in 2009, has been widely described as digital gold, because of its high value and volatility. This makes it not only an asset whose value can increase depending on market conditions, but also a form of payment able to use all over the world.

A number of experts consider Bitcoin and other crypto-currency as one of the best tools to avoid government monopoly in transactions and control.

According to Bouoiyour and Selmi, the absence of intermediaries in bitcoin transactions and the involvement of parties to a business is a milestone that amplifies its position in the currency platform.

The advantages of the crypto-currency applied practically for trade on the internet include: no need for a third party, high security, resistance to counterfeiting and fraud, low transaction costs and easy access to anyone or anywhere.

The use of bitcoin in the world is a growing trend, as it is an economic alternative for several users. But there are factors that can be disadvantages to its use, including the lack of control from the central bank of any country, as well as the transparency problem in companies like Mtgox. On the other hand, other factors may be positive to this currency, because there are no intermediaries in transactions and parties are not involved.

So, alternative currencies are a good way to reverse the economy in terms of remittances and transfer payments, which often involve high commissions. Many people believe that bitcoin is the future of online commerce.

Bitcoin has several advantages and disadvantages, so it has its supporters and detractors. Advantages include that it is an economic alternative for the whole world, involves no intermediaries in transactions and parties are not involved. Bitcoin is a digital currency that is not linked to any bank or government and can be sent from any country to other countries with minimal fees or delay.

Payments can be made with very low cost very quickly. It is not tied to any central authority, so it cannot be devalued by governments or financial authorities. Users can also remain incognito with their purchases, as bitcoin is not connected to names, addresses or accounts.

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