Bitcoin has several advantages and disadvantages which are described below
Assalamu Alaikum
Advantage :
Strong Security: Bitcoin is top of the line in terms of security. No specific organization or government controls so there is no security problem. .No Extra Charges: There is no extra cost to do Bitcoin transactions.
Opensource: This is an opensource project. That is, you can use the Bitcoin service absolutely free, there are no hidden fees.
Global Support: Bitcoin is gradually gaining global legitimacy. People will use this coin system to make all kinds of purchases in the near future.
difficulty:
Illegal in many countries: In many countries of the world, including Bangladesh, it is illegal to transact using bitcoins and cryptocurrencies. You can also go to jail for using it.
Risky: Suppose the transaction is incomplete for some reason. But then you will not get back the coins sent from your wallet. Therefore every transaction has to be done very carefully which is very risky.
Cannot be recovered: Bitcoins remain on computer hard drives. There is no way to recover the coins if that disk is damaged for any reason.
Volatile market price: When and how often the price of Bitcoin depends on the market trend. That is, the price of Bitcoin does not have stability.
Today's discussion ends here. I hope you find it interesting and able to understand. Share your thoughts on today's topic. Wishes and blessings to all.
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thanks for reading.
Great content, you have carefully demonstrated you're a quick study and have learnt extensively on Bitcoin's advantage and disadvantage and I feel security is one of Bitcoin's strength and why Iove it, thanks for sharing.
Thanks
We all know everything has advantages and disadvantages, but Bitcoin has more advantages.
Thanks brother.
You have presented an excellent post on the pros and cons of Bitcoin. Always get such good posts from you.