Why Use Bitcoins Instead Of Banks Accounts And Credit Cards?
So in South Korea, most transactions of money are done via banks, credit cards, paypal, and many more. But since South Korea has few Bitcoin enthusiasts, I want to talk about Why Use Bitcoins Instead Of Banks Accounts And Credit Cards?
No Centralised Power:
Now alot of people think of using a bank to send money to someone either abroad or locally, and sometimes you feel there are limitations and tough regulations manipulated by less than 1% of the population I like to call,"bankers."So with Bitcoin there is no authority over your money from anyone but a huge vast ecosystem of people on the network which increases security, so no freezing of accounts, nothing held, or any limits of money sending.
Fast And Cheap:
Now sending Bitcoin does not require alot of fees atleast of now 2019, more and more solutions coming out to make Bitcoin sending really fast like the lightning network coming nearly anytime around Q4 2019, importantly, Bitcoin is now really cheap to send and can take 30 minutes maximum per transaction to be sent to anywhere in the world doesnt matter how far or close, not like banks and other solutions with 3 business days to complete.
Bitcoin Protects Merchants From Fraud:
In the Bitcoin network, there is no irreversible transactions, meaning if you sent Bob 2.0 BTC well you cannot get those back unless Bob gives you his Bitcoins by sending them back. Merchants around the world are being ripped of transactions that include chargebacks, so when an Ebay merchant accepts Paypal payments one can use a trick and say he didn't receive the order and get his money back resulting in a merchant losing his money and item, Bitcoin solves this by making it more secure and cost merchants less fees, security, and peace of mind.
All Bitcoin Transactions Have A Public Record:
Well some people think this Bitcoin thing is a bit too good to be true right? Well it gets even better, Bitcoin transactions are all recorded on a public website called Blockchain, this Blockchain shows every transaction occurring in Bitcoin since 2009 of Bitcoin's creation till today, you can see ones amount of BTC and the amount sent and received insuring you see everything but don't worry everything is encrypted so no names, birthdays, or private addresses is shown only a public address that looks like this.
This is why you should forget the old system and move to the new one, its so easy and convenient for emergency situations, safety, better economy, less fraud, and more. I hope Steemians you see since see whats good for business.