Tuesday, February 27, 2018

Few Facts That Needs To Know About Bitcoin Mobile

Bitcoin is basically a cryptocurrency and a payment system that is accepted worldwide. The transactions take place directly between the users without any mediator or third-party. Since the time it was launched in 2009, bitcoins gained massive popularity as they could be exchanged for products, other currencies and for services. On this day, there are nearly 5 million users who use this cryptocurrency wallet.

Being the highest valued and oldest cryptocurrency out there, there are a lot of aspects associated with it. In case you are wondering what you should know about bitcoin mobile, mentioned below a few facts bitcoin that might interest you.
No Interruptions by any Intermediary
One of the most extensively promoted advantages of Bitcoin is the fact that banks, governments, and any other financial mediators have absolutely no way to restrict your transaction. They also wouldn’t be able to freeze your Bitcoin accounts. The entire process of a transaction is strictly peer-to-peer. This way the users get to experience and enjoy a greater sense of freedom as compared to the national currencies which are strictly monitored.
Your Purchases Wouldn’t Be Taxed
This is perhaps the major reason as to why so many people began using bitcoins. As the mediators have no way to intercept or track the transactions that are made with Bitcoins, the sales tax wouldn’t be added to any of the purchases made by you.
Your Identity Remain Protected
The most important facts or rather benefits that you should understand when wondering what you should know about bitcoin mobile is the fact that your identity would remain protected. When you are using Bitcoin for the transaction, there would be no credit or debit card number involved. This way no malevolent person would be able to impersonate you or rather steal your identity. You can in fact even keep your identity hidden when sending a payment. Some effort might be required to achieve that kind of privacy but it is possible.
Make Payments Anytime and Everywhere
Bitcoin is universally accepted and to make payments all you need is the wallet address. An internet access is, of course, a must just like all the other systems of online payment. This means that you wouldn’t have to travel to a store to purchase certain items or stand in long queues in the bank to make a payment. Simply add the bitcoin wallet address to the favorite list and with one click, send bitcoins to the other user. Bitcoin is available 365 days a year and can be used round the clock.
Other than all of the above, another major advantage of bitcoin is that the transaction fees are very low and you can choose the fee you want to pay. Receiving the bitcoins is absolutely free but most of the wallets have a very low default free. With a higher fee, you would be able to receive a faster confirmation of the payment made. It must be kept in mind that the fees remain unrelated to the total amount that’s been transferred. With so many advantages, the popularity of Bitcoins is justifiable. These above facts tell you everything what you should know about bitcoin mobile.

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