Some of the advantages of paying with bitcoins:
- Anonymous – The purchase of bitcoin is unique. If a user does not voluntarily disclose his Bitcoin transactions, his purchase will never be associated with his personal identity, such as buying only in cash, and he will not be able to find him. In fact, the address of the anonymous bitcoin generated for user purchases alters with each transaction.
- No intermediaries – One of the most important benefits is that banks, other financial intermediaries and even governments have no rights to interrupt user transactions or freeze on Bitcoin accounts. Transactions are completely peer-to-peer and users enjoy a greater degree of freedom than any other national currencies.
- No taxes for purchases – The bitcoin price is highly unstable and not steady. Because there is no third party involvement to track or record the transactions, there is no way for collecting taxes for the purchases which are made.
- Lesser fee for transactions – We all knows that the foreign transactions involve fees to exchange goods. But in a bitcoin transaction, since there is no intermediate party, the fees for exchange is kept lower.
- Easy mobile payments – Bitcoin users can make payment for their currencies wherever they are on the Internet, like any other online payment systems. This means buyers do not need to travel to a bank or shop to buy a product.
Bitcoins are decentralized, peer to peer cryptocurrency and a shared program connecting with a network of computer systems are used to process their payments.