Bitcoin: Some advantages and disadvantages

These days most people use Bitcoin digital currency and have been invested in it. Bitcoin is becoming more and more popular over time and people are promoting its use. Bitcoin is a digital currency used and used by people around the world today. It is also known as Crypto currency.

👉Bitcoin Advantages and Disadvantages

In today's post, I am going to tell you about some of the advantages and disadvantages of using Bitcoin, so that you can get to know about it better and get the necessary help about it before you buy bitcoin. If you are a Bitcoin user or want to become a Bitcoin user and want to buy Bitcoin then you must read this post first. So let us know what are the benefits of using Bitcoin and what are the disadvantages or the benefits of using it.

👉Benefits of using Bitcoin -

✒If you use bitcoin or are thinking of using it and want to buy bitcoin for yourself, then let me tell you that there are many benefits of using Bitcoin. Know some of the main benefits of using Bitcoin -

✒This is most popular because if you invest in Bitcoin for a long time (eg 6 months or 1 year) then it can be of great benefit. Because according to the records so far, the value of Bitcoin is continuously increasing. But its value may also be less. In that case you may also face loss. So if you want to invest in it then it can give you a lot of profit or profit and you can buy it for less and sell it for more money.

✒In the transaction process of Bitcoin, if there is no government or authority that does not keep an eye on you, then there are many people who use it for doing the wrong thing, then it is beneficial for them.

✒Here your transaction fee is very less compared to paying with credit card and debit card. So you can use bitcoin for any international transaction. You will find the transaction fee less.

✒Here the account of bitcoin is not blocked as if sometimes for some reason the bank blocks our credit or debit card, then that problem is not here.

✒Bitcoin is used all over the world today. This is also one of its main advantages. It runs all over the world and you can use it all over the world. You can use Bitcoin at any time in All over the world.

✒If you want to invest in bitcoin for long term then you can get a lot of benefit from it because it has been seen in the record that the price of bitcoin which is increasing is increasing, then later on you may get a lot of benefit from it.

✒Here the account of bitcoin is not blocked as if sometimes for some reason the bank blocks our credit or debit card, then that problem is not here.

✒The government is also unaware of Bitcoin and it is also tax free. The government cannot levy tax on it.

✒Bitcoin is easy to use and very secure. On this, full care of your security and personal informations is taken care of.

So these were some of the main advantages of Bitcoin. Apart from this, it also has many good benefits. So if you use bitcoin, it is beneficial for you to a great extent and there is very little of any kind of relationship in it.

👉Disadvantages of Bitcoin -

✒It is not that there are only benefits of using Bitcoin. It can also have some disadvantages. Know about some of the disadvantages of using bitcoin -

✒There is no governing authority (bank or government) to control it. Its rate keeps fluctuate (low-over). So sometimes it can be risky.

✒If your account gets hacked at any time, you will lose all your bitcoins and it cannot be brought back, no one will be able to help you.

✒When you buy a salmon online using Bitcoin and the seller sends you bad stuff, you cannot get a Bitcoin refund by returning it.

✒Many online merchant (seller) do not accept Bitcoin for payment. But you will find many online popular companies, stores and shops from where you can buy products or services using Bitcoin.

✒The future of bitcoin in India does not look very good. The government has been warning about this from time to time. So it is possible that Bitcoin India will get banned later and its sale will be stopped in India.

✒The price of bitcoin is constantly decreasing and increasing from time to time. Therefore, there is a high risk of loss in it. Maybe you buy Bitcoin for more money and then its price will be reduced. Therefore, there is a risk of loss in you.

About

Hi , This is Pramod Choudhary from Nagaur Rajasthan India. I an student and I would like to share my positive thinking with everyone that's my passion . Thank you