Bitcoin was an idea proposed by a software developer named Satoshi Nakamoto. They wanted to make an electronic payment system independent of any central authority and more convenient for the people to make transactions online so they developed Bitcoin.The mind-blowing part about Bitcoin is that it was based on a mathematical proof and allows its users to make transactions without charging a massive amount of money from them. These are many benefits that Bitcoin offers but some of them are as follows:

Freedom in Payment

One of the biggest advantage of Bitcoin is that it allows you to receive and send money anywhere at any time in any corner of the world. It does not let you bother about any limitations including crossing the borders, or rescheduling for bank holiday. It helps you by letting you get and send money whenever you desire. It makes you have a control of your money. It is a kind of digital currency that does not depend on any central authority and is transferred electronically with reasonable transaction fees.

Control and Security

Another benefit of this digital currency is that it provides an opportunity to the users to keep a track of the transactions that they make. It makes Bitcoin really safe for those use who avail this service. It even abstains merchants from charging extra fees without being noticed. They first have to talk to the consumer and after that, they can add any charges, if a consumer allows them. Another incredible feature that Bitcoin has is that it does not leak person information of the person who is making the transactions. Bitcoin makes and finalizes payments without making the personal information of a person bound to the transaction. Bitcoin protects the person against the identity theft as it keeps the personal information hidden from others. It can be converted into codes and backed up to prevent a user from becoming a victim of identity theft.

Information is Transparent

Another benefit of Bitcoin is that it keeps the information transparent. Though, with a block chain, it makes finalized transactions accessible to everyone but it keeps personal information of a person hidden from the prying eyes, which prevents us a person from becoming a victim of any kind of theft. Bitcoin makes your public address visible but it does not mean that it allows people to access your personal details. Personal details always remain secured, no matter what happens. It even lets people verify their transactions anytime in the Bitcoin block chain. It does not let any person, organization or government manipulate its protocol. That is why it is considered cryptographically secure.

Very Low Fees

Another advantage of Bitcoin is that it has very less transaction fees. You can make payments without paying much, which is incredible. Digital currency exchanges make the merchant process the transactions through a conversion of bitcoins into a flat currency and since these services charge less than PayPal or credit cards so people prefer them over other services.

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