Let’s look at the main distinctive features of Bitcoin.
Cryptocurrency is not subject to regulation by banking organizations, departmental structures, states. All users of the system have equal rights, regardless of citizenship and other parameters. But you can get the usual plastic card for payment using the site https://cryptopay.me/bitcoin-debit-card.
Making transactions in bitcoins, people keep their privacy. Transactions are made by hash address, hence, information about the recipient/sender is not disclosed. In the case of transfers between cards or e-wallets, the name or company name is displayed.
In the Bitcoin system there is no possibility to cancel, suspend, block transactions. In theory, it is possible to roll back the entire platform. However, in practice, this is difficult to implement.
Security backed by cryptography
All cryptocurrencies are based on cryptography. All information is encrypted, so transactions can be performed confidentially and securely. No one can intercept financial data when performing a payment transaction. In addition, all information is stored in a special file, which is accessible only to the owner.
It makes it possible to keep an open record of data while maintaining the anonymity of the network. All transactions where computer money is used are open. Anyone can download the complete blockchain to his or her own computer, trace the path of each token. When it comes to fiat currency, it is quite difficult to monitor its movement. Cash is often used in the shadow economy. Bank transactions can be verified only by those who have access to special databases.
Most cryptocurrency units are characterized by limited issuance. This avoids hyperinflation, increasing the price of tokens in the long term. The maximum possible issue is specified in the cryptocurrency protocol, not subject to change. The decision to issue fiat money is made by the Central Bank. National currency units can be issued unrestrictedly.
Bitcoin is just a digital code that has no physical embodiment. Virtual tokens cannot be counterfeited because the blockchain register is protected from any changes. As for conventional currency, it comes in the form of bills or metal coins. Watermarks are not able to provide the same level of protection as cryptocurrencies.
Bitcoin allows all users to participate in the system and generate income. For example, you can join a mining pool and start mining tokens. All miners have equal rights and are anonymous to each other, which provides maximum security.
Bitcoin is also characterized by its ease of use and minimal fees. Sometimes the commission is zero at all. This makes Bitcoin a great currency for making international transfers, for which many banks charge hefty fees. If you are interested in being able to pay for purchases with bitcoin, you can use https://cryptopay.me/.