What are the Main Reasons for Using Bitcoin?
Bitcoin is a new currency which has started striking in the mainstream markets all around the globe. There are enough benefits on offer with Bitcoin Machine which is making it worth a use. Seeing the demand and popularity, there are many online portals and Bitcoin ATM booths coming up around popular cities, giving people the flexibility to exchange Bitcoins using any traditional currency of choice. In this age of internet and gadgets, with Bitcoins, you can transfer payments to any part of the globe anytime. What more can you ask for?
What Critics State?
Bitcoin is known to come up with a wide range of benefits, but some market experts believe that it is unsafe to use Bitcoins. Here are some of the reasons:
- This digital currency is not regulated
- Bitcoin have no authentic value
- This form of payment ca be used for all kind of illegal transactions
In spite of these above mentioned negative aspects, major market players around the globe are seen talking about Bitcoins. Alongside these few negative points, there are a countless number of positives coming up with this cryptocurrency.
Quick payments: Payments that are made by banks or financial institutes take few days’ time. Wire transfers too take a long time. However, Bitcoin Machine transactions are known to be rapid, and you can send or receive payment within few minutes time. Fast and hassle free payment option makes Bitcoin favorable.
All zero confirmation transactions are instantaneous; in this, the merchant accepts the risk. However, if the merchant needs approval, the transaction takes around 10 minutes time. This technique is much faster when compared to other inter-banking transfers.
Inexpensive: All debit and credit card transactions are instant, but the user is charged a fee for availing this privilege services. In Bitcoin transactions there are no such fees, in most cases, it is free or a nominal amount.
No one can take it: The most important feature of Bitcoin Machine is that it is decentralized. No central authorities or government is controlling this system; no one will take a percentage of your deposits. This makes it affordable and undoubtedly the best concept in present day time.
No chargeback: Once Bitcoin trades are done, they are gone. Users can’t reclaim without taking the consent of the recipient. This makes it difficult to commit chargeback fraud, one common problem experienced by people using credit cards.
With growing popularity of online shopping, most individuals are seen making payments through credit cards. If any of the purchased goods are defective, you need to contact the credit card agency to make a chargeback, for reversing the transaction. The credit card company do reverse the transaction, but you need to pay a chargeback fee ranging $5 to $15.
Apart from the points mentioned above, many more other benefits on offer with Bitcoin Machine which is an ideal choice for the present generation. There are Bitcoin ATM booths and online portals coming up where you can exchange Bitcoin using suitable currency, anytime.