Bitcoin is used mostly in the digital platform to make some digitalised transactions. But there is an issue with these decentralised type of transaction which simply denies any responsibility by the government if anything wrong happens during the process.
The bitcoin is a complex mode of transaction that takes place online and also there is physical appearance for the bitcoins. Only people with proper knowledge in the field of crypto-currency will be capable to make the dealing in this mode of trade.
Advantages of bitcoin
- The use of bitcoin is really safe and there is no interference of any third party member in between the mode of your transaction.
- You can also keep your coin in stock for a longer period of time without any stress or tension that your coin will just vanish anywhere. It is safe in the cloud of the user account.
- The mode of payments in this scenario is really faster in comparison to others.
- The transaction bills are also reduced using this mode of technology.
- Even really beneficial for those who are establishing their idea into a small business and they need to make some international payments to import and export certain products.
The bitcoin price varies in every countries. The value of 1 bitcoin is equal to 6 lakhs approximately in Indian currency and in US currency it is around eight thousand US dollars. This shows how expensive it is.
In conclusion, this is not a legal process so if you are choosing this mode of trading then you must understand the risk and the cause.