Practically, almost any product or service that can be purchased with dollars or other currencies can also be purchased with Bitcoins. On the other hand, Bitcoins’ high volatility is a great risk for some people who want to use this cryptomon, but they are afraid of price differences. Even so, the Bitcoins features make perfect for Internet payments:
1. Fast transactions
A Bitcoin transaction is processed in 10-15 minutes. In case of a bank transfer, it may take hours or even days for the money to get an account to the other. Some might say that Paypal or other Ewallets are even faster. It is true, but there are other aspects that can not give Ewallets: privacy and smaller commissions.
By sending Bitcoins to an Internet partner, the transaction will be registered in a Blockchain. The list of transactions is public and can be verified on specialized websites. Only the identification number, the sum and the time are recorded. There is no way someone to find out where the bitcoins come from, and where they go. This is characteristic of Bitcoins attracted to many people. Well, some of those who are interested in it, as they can buy illegal products with them, but most Bitcoin users are people who want to buy items and legal services, but they do not want to reveal their identity. Pornography and betting sites could be immoral, but they are not illegal, so people who want to subscribe for those services can safely pay in Bitcoins on websites that accept this currency, knowing that its reputation will not be affected.
3. Smaller commissions
The average commission is 0.002 BTC for a transaction. It is significantly lower compared to PayPal or bank commissions. On the other hand, he is not even obliged to pay him. By paying a commission, which “reserves” the calculation power of a pool (or at least a part of it), to process its faster transaction. It even has the possibility of not paying the commission. In this case, you may have to wait two or three days so that your operation can be processed. If you are not in a hurry, this could be the perfect opportunity to make money transactions with zero costs.
Of course, there are also disadvantages for the use of Bitcoins, such as the possibility of losing them. If someone steals its bitcoins, or if you delete the files from the portfolio, it is impossible to recover those. While Bitcoin is not regulated, there is no central organization for arbitration between divergent parts. In other words, you can not complain if you lose or is stolen by your Bitcoins, just because there is no one to complain.