Why Use Bitcoin?

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Why Use Bitcoin?

Bitcoin is like the cash you already have, but it's much better.

  • Bitcoin is held by you, not a bank. Your phone or mobile device IS your bank and ATM.
    • Better yet, there are no ATM fees, foreign withdrawal fees or declined transactions: All you pay is the tiny mining fee to broadcast your transaction to the blockchain.
    • The small mining fee you pay is not based on percentage, as it is with credit cards. Therefore you can transact very large sums of money, for just a small fraction of a dollar.
  • It takes only moments to set up a Bitcoin wallet, and you are not required to give out your personal information.
  • Bitcoin takes up no physical space, as it exists only in a digital form.
  • Bitcoin works as cash all around the world, so no need for exchange fees and carrying foreign currencies; You can transact with Bitcoin in almost every country across the globe.
  • Paper and metal money is DIRTY! Something less talked about, but the amount of unsavory bacteria and substances found on paper currencies is astonishing, and contributes to the spread of viruses and disease.
  •  Bitcoin is very safe and secure. You can't just lose Bitcoin like you can cash (see section on Seed Words), which can be dropped on the ground, taken from your person, or even damaged beyond use.
    • Bitcoin is immutable: Transactions made in Bitcoin cannot be nefariously altered, charged back, or declined.
    • Accurate: Transactions are validated by numerous computers around the world; not on one single, potentially vulnerable server, as is the case with debit and credit cards.
    • Transparency and Permanence: From a regulatory perspective, this is great news. All Bitcoin transactions, from the beginning of its existence, are stored on the blockchain, which is the decentralized and immutable ledger mentioned above. This blockchain can be viewed by anyone, and all transactions are stored here, in a totally unaltered state. No cooking the books with Bitcoin.

 

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