1 You Dont Need Banks
In developed countries, its relatively easy to sign up for bank accounts and credit cards. But in the developing world, its a vastly different story. Its much harder to get credit and setting up a bank account is no walk in the park. But Bitcoin changes all that. With Bitcoin, you can save your own bitcoins yourself all you need is a secure wallet to keep your digital money safe.
2 Fast, Cheap and Borderless Payments
With Bitcoin, you can send any amount of bitcoin to anyone in the world in a matter of minutes. When you send money through banks you not only pay those costly bank fees, you also need to wait for several hours or a few banking days. But with Bitcoin, as weve mentioned previously, you dont need banks to send or remit payments to other people. All you need is their bitcoin address and voila! Your payment should arrive in the next 10 or so minutes.
3 Bitcoin Cant Be Manipulated By Anyone
Governments and banks can dictate the production and movement of their national currencies which ultimately leads to inflation. Unlike fiat currency, however, Bitcoin is a decentralized virtual currency. This means there is no controlling entity that tells the Bitcoin network what to do. Everything has been hard-coded into the network and the underlying technology behind Bitcoin, the blockchain, is tamper-proof and cant be manipulated by anyone, not even its developer, Satoshi Nakamoto.
4 Bitcoin Will Help Authorities Catch Criminals
Contrary to popular belief, Bitcoin is not anonymous. Rather, it is a pseudonymous currency because while your alphanumeric public keys provide a certain level of anonymity, computer experts can trace who owns which wallets and the amount of bitcoins each wallet contains. Now the masses who make small transactions dont have anything to worry about. Its the criminals who move large amounts of bitcoins that catch authorities attention, and its who they focus their research on, not the millions of people who make minute transactions.