Tuesday, July 16, 2019

Why Use Bitcoins?

Why is Bitcoin better as a medium of exchange than any other currency? Take a look at these use cases and consider your current alternatives. Bitcoin comes out on top every time.

  • Send emergency Bitcoins instantly to stranded family and friends abroad directly to their smartphone! No waiting for the bank to open, no $25 wire fees. Instant assistance!
  • Want to store a value of bitcoins securely for a long period of time. Generate Bitcoin keys off-line, print them, store them in a safe at your bank. Transfer Bitcoins to the off-line address and they are super secure until you need to spend them! Offline Bitcoins are not vulnerable to malicous software that may lurk on your computer.
  • Safer than a lemonade stand for kids to make their first earned money (more anonymous, no real world contact). They can sell their arts and crafts, like home made beads/necklaces/bracelets/etc.
  • Worried about making large transactions in public and having to safely transport the money to safety afterwards? Accept Bitcoins to your smart phone, then transfer them to your home computer or off-line Bitcoin address.
  • Your computer just failed to boot with a wierd error message. You Google it and discover a forum thread where someone already solved the problem and helps you get your computer back online. You decide to reward them by sending a few BTC to the Bitcoin address in their signature line as thanks for helping you get back to business.
  • Are you a merchant and tired of payment processor usage fees? Tired of dealing with fraud and chargebacks? Once the money is sent to you via Bitcoin, the transaction cannot be reversed.
  • Storing cash for a long period of time is not profitable because of inflation – a government’s printing of unbacked notes. After Bitcoin’s pre-programmed inflation period ends, it will begin to deflate due to attrition. Storing your coins for a long period of time may actually increase their value.
  • All
  • Advanced
  • Beginner
  • Expert
  • Intermediate
  • Use Bitcoins instead of PayPal

    Not linked to your bank account

    No central authority telling you what you can and cannot do with your money

    Available in any country

    Your account can never be seized or closed

    • Beginner
  • Use Bitcoins instead of Debit or Credit Cards

    Not linked to your bank account

    No risk of identity theft

    No chance of overdraft fees or overlimit fees

    No monthly fees or annual fees

    • Beginner
  • Use Bitcoins for Remittance

    Eliminate the high fees

    No minimum or maximum amount

    Available in any country

    • Beginner
  • Use Bitcoins instead of Online Banking

    Deposits are available within minutes

    No International Boundaries: send and receive anywhere in the world for no additional fees

    Unlimited Access: have full control of your money, 24 hours/day, 7 days/week, from anywhere in the world

    • Beginner
  • Use Bitcoins instead of a Wire Transfer

    Eliminate the high fees

    No minimum or maximum amount

    No need to call the bank

    Unlimited Access: have full control of your money, 24 hours/day, 7 days/week, from anywhere in the world

    • Intermediate
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Additional References

Bitcoin stats, block chain explorer and wallet

Average Exchange Price of Bitcoin

Real-Time quotes of global Bitcoin prices

The official Bitcoin website

The Bitcoin Wiki, with everything Bitcoin

Bitcoin Discussion Forums

Introduction to Bitcoin

An Introduction to Bitcoin

Bitcoin News, Price and Information

CoinTelegraph - Live Cryptocurrency Community Opinion

Learn more about Bitcoin with the Bitcoin Q&A at StackExchange