Many are attracted to Bitcoin because of its independence and anonymity. However, its ease of use, speed and price are not as attractive as users.
The most important advantage of using Bitcoin to pay is that there is no need for the middleman to complete the transactions. Despite that, the speed and cost of some operations is a negative aspect when using this currency.
Positives :
Payments can be completed around the clock, seven days a week, all over the world, even in the absence of banking systems
International payments using Bitcoin are faster and cheaper than traditional bank payments.
You can spend Bitcoin in the same spending methods as you spend traditional digital money - from buying a desktop computer, a mobile phone, or a credit card.
Bitcoin also has valuable business characteristics, such as: multi-signature mandates and accounting transparency. Multiple signatures allow more than one person to sign to allow a specific batch to be sent, increasing security. The nature of the blockchain - where all operations are generally stored - increases transparency in business.
Negatives
Despite attempts to enable payment using Bitcoin when offline, the use of this currency is still highly dependent on the availability of the internet.
Although Bitcoin has surpassed traditional banking operations in international payment, it is still slow and expensive when used in retail operations, such as: buying tea or household groceries, but it is expected to improve speed in the future.
As Bitcoin is still under development, the speed and fees paid are still unstable.
Converting Bitcoin to fiat currencies is very expensive.
Not all merchants and service providers accept Bitcoin, but the number is increasing
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