The Advantages and Disadvantages about Bitcoin You Need to Know

pro und contra

Bitcoin pros and cons are actually a thing. But people may only focus on the pros rather than the cons. Well, in this article we will reveal lots of things about this currency. Basically, there are indeed several advantages you will get by using bitcoin to do transaction, since it is kind of the digital currency.
However, nothing is perfect. So, there are also several disadvantages of this currency you need to know. You need to read this article in order to reveal all things about this popular digital currency.
The good things about bitcoin
Bitcoin allows you to have the freedom in payment. You can send or get paid across the globe without too much additional fee. There is no central authority that regulates this currency so you are in control of what you have.
The user is definitely the one who controls the transaction to be safe, since it is mostly about internet and technology. The merchant or company cannot charge extra bill without notification. The personal information is safe and you can backup or encrypted in order to protect your money.
All pieces of information are transparent but your personal identity is not shown anyway. No one could manipulate the protocol of bitcoin as well.
When you do transaction or transferring money, there will be low fee or no fee at all. Additional fee will be charged in order to make the process becomes faster. The digital currency exchange charges lower fee than PayPal and credit card.
If you are a merchant, the risk for you is getting fewer. The transaction by using bitcoin cannot be reversed. This feature makes the merchant protected from losses in case the buyer want to do fraud. So, even though the crime and fraud rates are fairly high, doing business with bitcoin will be safety in overall.
The not-so-good things about bitcoin
There is lack of understanding and awareness about the digital currency. Of course this is also related to the education and knowledge. On the other hand, bitcoin is a good thing to make any transaction becomes easier. If people do not know about it yet then the popularity goes down and bitcoin will have no value as well.
Volatility may be another issue. There is limited number of bitcoin available in nowadays and people think that bitcoin is unlimited. The low popularity also plays huge role on why the value is low and high at certain time only.
Other than that, bitcoin is still in development. The features are not completed yet so the popularity is not high for today. Not many merchants or companies accept this currency.
The verdict
We would say that having bitcoins is a great thing because it will ease the transaction process. However, the popularity is not as great as dollar bill in nowadays since bitcoin is still on the development stage. Over the time, this currency will be more familiar and many companies will accept this currency and you will know that advantages are greater than the disadvantages based on bitcoin pros and cons.