Benefits of Paying in Bitcoin

Bitcoin is the next gen thing. In this era of technology and digitalization even money has turned digital and trust me it is doing way better than government backed paper currency. People have more expectations with digital currency and with lots of hopes are investing in this cryptocurrency.

Now, you may be thinking why? What is so special about this cryptocurrency and how is it better than the fiat currency? The reason is pretty simple! The Bitcoin has much more value than paper currency and thanks to it’s highly volatile nature. So, you never know even by investing a small amount of 250 dollars, you may wake up one fine morning to find out that you are a millionaire.

How to define Bitcoin?

Bitcoin is a digital currency that is available online in digital form, which means that you cannot touch it. You can only see it on your computer and phone screens. Bitcoin works on the theory of Blockchain that keeps the records of the entire transactions that ever took place. It is quite helpful as it does not lead to any kind of fraud and prevents hacking despite being a total digital currency.

For those who don’t know Bitcoin was created by an anonymous programmer Satoshi Nakamoto named a decade ago in 2009. His identity remains a mystery till today. The basic agenda behind creation of this Bitcoin was to provide people with an independent currency that could not free from any human restrictions. Unlike paper currency Bitcoin is not controlled by a third party like a bank or government. You don’t have to pay an fees for it’s international transactions and you have not even worry about taxes not matter how much you earn as a trader as it has got nothing to do with government. Your hard work and your Bitcoins are just yours and nobody can claim a right over it.

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Imagine so hard earned and mined Bitcoins, if you get as your salary, it will be so much fun, right? This concept is yet not popular, very few companies offer to pay in Bitcoins. Having said that, let's check out the various benefits of getting payment in form of Bitcoin.

• Anonymous

It is one of the major issues of paper based currency that you do not have any kind of privacy regarding your account and transactions. Whereas it is not same with digital currency Bitcoin where you can easily do the transaction keeping your identity a secret. The amazing part is that the Bitcoin address changes with each transaction so you never know even if you are dealing with the same person again and again.

• No third party restrictions

As already told that Bitcoin is an independent currency that is not controlled by any third party like banks and government. It is free from any restriction and you can make transactions easily without having to pay high fees or following long procedures.

• No taxes

Being an independent currency that Bitcoin is, it is free from any restrictions and thus no matter how much money you make through Bitcoin, it is completely yours. Government has got nothing to do with it. So, when you purchase anything through Bitcoin payment, you don’t have to pay any taxes for it.

• Mobile Payments

When you have Bitcoin in your phone, no need to carry a wallet or carry a card all along just click on your phone and payment is done. However, unlike online payments made with U.S. bank accounts or credit cards, personal information is not necessary to complete any transaction.