When people talk about the many benefits of bitcoin and other cryptocurrencies, they often mention that it is a decentralized form of payment, but what exactly does this mean? Cryptocurrencies are decentralized because they are not under the control of or regulated by a central bank or other authority. This can provide a lot of benefits to people who own this type of currency, in part because it means that there are fewer restrictions regarding its use; therefore, they can be utilized any number of ways. Learning how to buy bitcoin means learning how to use these coins via an online wallet that makes each and every transaction extremely simple for all parties involved. Below are some of the many advantages of buying and selling products and services with cryptocurrencies such as bitcoin and others.
Purchases are Discreet
Purchases with bitcoin and other cryptocurrencies are always discreet; in fact, they are essentially anonymous. This doesn’t mean that these transactions are 100% untraceable, but you can think of them much as you do a cash transaction. Your personal identity is never linked to the transaction itself, so the only way the transaction and the buyer’s identity can be linked is if the buyer himself volunteers this information. They are simply much less traceable to the cryptocurrency owner than most other types of transactions are.
Transactions are Easily Accessible
These days, many people simply don’t want a traditional checking account and it is easy to understand why. It’s even easier to understand why people do not want credit or even debit cards, but with cryptocurrencies, this is never a problem. In fact, when you know how to buy Bitcoin or any other type of cryptocurrency, you can access the transaction on a computer, tablet, or cell phone and you can do so 24 hours a day, seven days a week. It couldn’t be easier, and it’s always good to know that you can access your transaction any time, any place, and anywhere you like.
It is Super Simple and Fast to Work with
With cryptocurrencies, all you need to buy, sell, and monitor your transactions is online capability and nothing else. There is no visiting a store or a bank, and no releasing any of your personal information. In other words, there is nothing complicated that you need to do and you don’t even have to leave the comforts of your home. Just stay in your jammies and press a few buttons on your cell phone or tablet, and the transaction can be completed in seconds. You can’t get any easier or less time-consuming than this, and that helps a lot in today’s busy world of ours!
You Get more Autonomy with your Money
Because there is no bank or governmental authority that is guiding or managing your transactions, you can do just about anything you want with your money without having to involve a third party. And it doesn’t matter what you do with the money, either. Whether you’re buying, selling, trading, or investing with your cryptocurrency, you can do so with an autonomy that you just don’t get with flat currency, at least in theory. This gives a lot of users the peace of mind that they just don’t get with flat currency and with regular banks, and it’s why a lot of people use cryptocurrency in the first place!
It is Less Expensive to Deal with Cryptocurrency
When you deal with a regular bank or financial institution, you get used to paying a lot of fees such as deposit fees, withdrawal fees, overdraft fees, no return deposit fees, and usually plenty of others. One of the things that makes learning how to buy bitcoin and use cryptocurrency so appealing is that these fees simply do not exist. So, not only is using cryptocurrency super easy and fast, but it is also a lot cheaper than using flat currency. In fact, it seems as if traditional banks are continuously coming out with even more ways to charge clients fees, but this is something that you won’t see bitcoin and other cryptocurrencies do. And even with wire transfers and foreign purchases, the rates you do come across will be much lower than those made with traditional currency, making it well worth it for you in the end.