Why We Love Bitcoin, and Why Should You

Do you remember these sci-fi movies where money was digital and not printed on a paper or coin? We are living it, and it’s great! Say hello to this crypto era and enjoy the freedom of having your money stored in digital wallets and not into your pocket. 

If you are just getting started, probably you want to explore Bitcoin because it was the first cryptocurrency (from 2009), and it is still the most popular digital money today.

Bankomia wants to show you some of its advantages in the middle of thousands of other cryptos available in the market now. 

Remember to take the time to research on your own to adapt that information to your financial needs.

Photo by André François McKenzie from Unsplash

Pockets free, e-wallets interlinked

Payment freedom is a useful feature because it means that it is possible to send and receive it between any place in the world. 

It does not matter if it is a holiday or if you are in America, and you need to transfer Bitcoin to somebody in India; for bitcoins, there are no borders at all. 

Bankomia Crypto Wallet section provides secure storage and transmission of Bitcoin payments from one side of the world to the other one in seconds. 

There is no room for mistakes using bitcoins

Bitcoin users have full control of their money and transactions on five different fronts:

  • Payments with Bitcoin don’t request to fill your data. You need to have an address wallet, and that’s all to send and receive money in seconds. It means protection against identity fraud
  • It is common to find additional fees in the bank statement each month. With Bitcoin, it is not possible to charge unnoticed fees from merchants. They are also tiny compared to traditional banking fees. For example, at the beginning of August, more than $1 Billion was sent in Bitcoin. The fee for this transfer was only ~$4.
  • Bitcoin transactions are irreversible, making bitcoin a highly secure payment method for merchants; for example, when you don’t know the customer during an online sale.

More money sent doesn’t mean more fees to pay

With Bitcoin, the sender pays the transaction fees according to the wallet. 

Did you know that the fee for sending 80,000 bitcoins is the same as for sending only one coin? It is! The best part – the fees are not related to the transferred amount. It doesn’t happen using traditional payment methods, such as credit card or PayPal. Bankomia lets you exchange your payments through the Exchange service. We advise you to check the fees for each exchange prior to doing it.

Photo by David Shares from Unsplash

Cost reduction for merchants

Thanks to the great Bitcoin features, merchants can take their businesses to new levels and introduce new markets with their services. Even in places where credit card payments are not available. Bitcoin lets them get lower fees, access broader markets, and reduce administrative costs. For merchants, Bankomia provides merchant and white-label access services. With these you will acquire a fully working set of crypto wallets, IBAN accounts, payment cards, KYC/AML compliance evaluation, client support professionals, and other features that Bankomia now offers.

Bitcoin as digital gold

Bitcoin, as a great option for investment, opens a wide range of possibilities to use it. Business people view Bitcoin as digital gold because it is faster and stronger as a store of value for companies. It can be used around the globe without passing by a conversion process.

Also, Bitcoin acceptance in business fields has increased, allowing easier digital and international transactions.    

Check out the article 4 Internet & Mobile Service Providers that Accept Bitcoin Payments [+ Pro Crypto User Tips] on our Bankomia blog.

Photo by Dmitry Demidko from Unsplash

Final words

In summary, we love bitcoin because it is an open, peer-to-peer, and secure cryptocurrency at the same time. It permits seamless transactions between countries far away. It doesn’t require third party interventions or exchange values to make a successful transaction. 

Bitcoin opens the market and gives us a new financial world with no restrictions by banks or government systems.

Noteworthy: it is impossible to duplicate a bitcoin, which is so possible with cash. It gives its user access to the blockchain records to be transparent and show safe crypto for merchants and buyers. 

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