Many people are attracted to BTC because of the pseudo-anonymity and independence. However, its convenience, fees and speed might not be very pleasing as one want. Here we are going outline some common pros of Bitcoin and understand 1 btc to inr conversion in a right way. But, Bitcoin has regulatory oversight and convenience of the traditional financial instruments. The bitcoin cost is very volatile, and will not change in a near-term. Besides, this network is being developed as well as doesn’t match the ease and efficiency of use that are offered by the banks or related financial services. Paying through BTC has low and at times no transaction fees. This depends on priority of a person. If person wants that their transaction gets processed quickly, he needs to pay the transaction fees that is low compared to financial intermediary and digital wallets.
- International money transfers in Bitcoins will be cheaper and faster than with the traditional banking & services.
- Bitcoin is open financial system and you can make the payments with BTC 24/7 all across the world, and even where there is not any banking system.
- Bitcoin is a portable asset made and will be transferred through the satellites or radio waves.
- Bitcoin is an only asset created that will not get seized by force (in case taken right precautions). Besides, bitcoin transactions are totally uncensorable, thus nobody will stop you in conducting the transactions.
Thus, we’ve pointed out some pros of Bitcoin. Bitcoin isn’t perfect but has some plusses that aren’t available with the physical currencies as well as are highly useful to the users. Although there’re a few disadvantages these are because Bitcoin still is in the early stages for becoming the new currency. Bitcoin awareness is growing yet, albeit rather slowly. Slowly people are becoming highly educated as what the digital currencies are about or what they will offer them.