Why Bitcoin? Bitcoin is the first resolution in digital payment system as a digital currency. Because this system works between users directly without any government, middleman and any administrators. This system invented in 2009 by Santoshi Nakamoto and released as an open source system. The whole digital system of Bitcoin engages with peer to peer (networks in which each computer can act as a server for the others) and transactions between users are direct. But these transactions between users are verified by network nodes and recorded in a public distributed ledger called a Blockchain.
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| New Cryptocurrency Revolution |
Bitcoin is a reward for a process known as mining. These coins can be exchanged in any currencies, products and services. According to research produced by Cambridge University in 2017, about 2.9 to 5.8 million users using a cryptocurrency wallet.
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15 Reasons to buy Bitcoin:-
- It is a decentralized digital currency that enables instant payment to anyone or anywhere in our whole World (In 2016 this digital currency sent to outer space by Genesis Mining).
- No Taxes:- There is no place for a third party to intercept transactions of Bitcoins and therefore there is no way to implement a Bitcoin taxation system. The only way to pay a tax would be if someone voluntarily (one's own will sends a percentage of the amount being sent as a tax.
- It is designed around the idea of using cryptography (is the practice and study of techniques for secure communication) to control the creation and transfer of money, rather than relying on central authorities.
- No one track the information of any users, unless users publicize their wallet address publicly.
- No Transaction Costs:- Sending and receiving Bitcoins requires users to keep the system running and connected to other nodes.
- Secrecy is so secured in this System that increases privacy when compared to traditional currency systems like Bank transaction.
- Users keep the system running from their transaction money and sharing this work greatly reduces transaction costs, and thus makes transaction costs negligible.
- Once a system is set, the transaction cannot be reversed. Since the ownership address will be changed to the new owner (once it is changed) it is impossible to revert. Since only the new owner has the associated private key, only they can change ownership of the coins. This ensures that there is no risk involved when receiving Bitcoins.
- The ownership address can only change by only users. So, it cannot be stolen by anyone because address physical access to only a user’s computer, and amount send to their account only.
- Unlike conventional currency systems, where only a few authentication details are required to gain access to finances, this system requires physical access, which makes it much harder to steal.
- We all know the Global economy is so unstable and it changes with every second in all over World. But, Price of Bitcoin has been more stable than ever before.
- Governments can’t freeze someone’s wealth, and thus users of this system will have complete freedom to do anything they want with their money.
- Users can pay for their coins anywhere they have Internet access. This means that purchasers never have to travel to a bank or a store to buy a product. However, unlike online payments made with U.S. bank accounts.
- Personal information is not necessary to complete any transaction.
- The costs of the transaction are kept very low because there is no interference of Government or any institutions.
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| Infographics |
Why Buy Bitcoin??
Reviewed by amit kumar
on
October 19, 2017
Rating:
Reviewed by amit kumar
on
October 19, 2017
Rating:



Amit, Congrats on setting up your new website. :) Is this a niche blog for Bitcoins?
ReplyDeleteBTW, I like the infographic and the information you shared.
Yes, @rohan This is niche blog on BITCOIN
DeleteAmazing and very informative
ReplyDeleteThanks @divansha for appreciating this Article. These type of appreciation help us to write articles in more better way.
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