Virtually any product or service that can be bought with dollars or other currencies can also be bought with bitcoins . On the other hand, the high volatility of Bitcoins is a big risk for some people who want to use this cryptocurrency but are afraid of price differences. Nevertheless, the properties of bitcoins make them perfect for internet payments:

1. Fast Transactions

A bitcoin transaction is processed in 10-15 minutes. With a bank transfer, it can take hours or even days for the money to get from one account to  Bitcoin Kurs the other. Some might say that PayPal or other e-wallets are even faster. True , but there are other aspects that eWallets cannot offer: privacy and smaller commissions.

2. Privacy

When you send bitcoins to a partner over the internet, the transaction is registered on a blockchain . The list of transactions is public and can be checked on specialized websites. Only the identification number, the sum and the time are recorded. Nobody can find out where bitcoins come from and where they go. This is characteristic of bitcoins , which attracted many people. Well, some of them are interested because they can use it to buy illegal goods, but the majority of Bitcoin users are people who want to buy legal items and services but don’t want to reveal their identity. Porn and gambling websites may be immoral, but they are not illegal, so people who want to subscribe to these services can safely pay with bitcoins on the websites that accept this currency, knowing that their reputation will not be tarnished .

3. Smaller Commissions

The average commission is 0.002 BTC for one transaction. It is significantly smaller compared to the PayPal or bank commissions. Moreover, you are not even obliged to pay it. By paying a commission, you “reserve” a pool’s computing power (or at least part of it) to process your transaction faster. You even have the option not to pay the commission. In this case, you may have to wait two or even three days for your transaction to be processed. If you are not in a hurry, this could be the perfect opportunity to make money transactions without any costs.

Of course, there are also downsides to using bitcoins , such as the possibility of losing them. If someone steals your bitcoins or if you delete the wallet files, it will be impossible to recover them. As long as bitcoin is unregulated, there is no central organism for arbitrage between divergent parts. In other words, if you lose or get robbed of your bitcoins , you can’t complain simply because there’s no one to complain to.

Bitcoins are just a part of the cryptocurrency world , as there are many other virtual currencies that could be a good alternative. Devcoins , Litecoins and Dogecoins are just a few of the words that have been heard around the world lately.

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