Bitcoin is an open-source software designed and released according to Nakamoto's idea and the construction of P2P network on it. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system. Here are the reasons why so many people buy bitcoin. Welcome to read.
I. why is bitcoin so popular?
Indeed, the history of bitcoin is very painful, but this digital currency helps people trade services and products and pay money without the participation of banks, credit card issuers or even any third party. Bitcoin is just a line of computer code. Every time you travel from one person to another, you have to use a digital signature. Since all transactions are conducted anonymously, this currency is welcomed not only by liberals, but also by technology enthusiasts, criminals and speculators.
Why is bitcoin so popular
2. Is bitcoin really anonymous?
Bitcoin is anonymous to some extent. Although it can track the transactions and the accounts from which the exchanges come, it is not easy to know who is the owner of the account. But if anything goes wrong, investigators can track the owner by converting bitcoin into ordinary currency.
III. why many people use bitcoin now
Many people don't understand why bitcoin can be used in some places instead of their conventional currency. Here are some reasons why people use virtual currency (bitcoin). You can find the answer here.
Bitcoin payment is quite fast: when a person pays an amount from another bank to his bank card, it is obvious that the bank will keep the amount for a few days. The reason behind this is that the bank does not really believe that the funds are actually available. Similarly, international wire transfers are time consuming. However, if the transaction is carried out with the help of bitcoin, it is a relatively faster process. As long as the transaction is "zero confirmation", the transaction occurs in an instant, which is much faster than inter-bank transfer.
Bitcoin payment is quite fast
Bitcoin is cheaper to trade: Although we know that trading with credit card is indeed fast, it is not free. In the case of bitcoin transactions, the cost is the lowest and may be free in some cases.
Bitcoin cannot be recovered: once bitcoin is sent, it disappears. After bitcoin is sent, it cannot be retrieved by the sender without the consent of the recipient. This is why it is difficult to carry out any form of fraud, which is very common in credit card cases. In the case of credit card transactions, shoppers can contact the credit card company to send the money back after shopping, which can reverse the whole transaction process, which is not allowed in bitcoin.
Payment information cannot be stolen: one of the most important benefits of using bitcoin for transactions is that payment information cannot be stolen. When we pay with credit card, we need to fill in online forms and enter personal card number information such as credit card number and credit card validity period, which is one of the main reasons for credit card number theft. However, bitcoin transactions do not require private information. Only when a person discloses his private key is he unsafe. Otherwise, bitcoin transactions are very secure.
Bitcoin is private: sometimes we don't want people to know what we're trading. Bitcoin is a private currency. In addition, many people use bitcoin in a very unwise way, making it easier for others to recognize them.
We need reason when investing in bitcoin
Because bitcoin is not operated by any right, bitcoin is very safe. This makes it easier for anyone around the world to consume bitcoin, and only when the paid person receives bitcoin. Bitcoin is similar to ordinary currency. Many people use it for investment, but we should remind that when investing in bitcoin, we need to be rational. It is not recommended that ordinary people participate in bitcoin investment to avoid losing their money. Because: 1 At present, the price of bitcoin fluctuates greatly. 2. Bitcoin regulation is not in place or even not. 3. There are few practical methods to evaluate the value of cryptocurrency. 4. Hackers often enter the trading platform to steal bitcoin.