Buying bitcoins can bring you many benefits
There is a tremendous growth in the world of business and the ways in which it is conducted by people who engage in day after day. The business world has evolved very rapidly and there are a growing number of businessmen who conclude their various business transactions through the use of bitcoins. Satoshi Nakamoto is the alias of the person, whose real name is not definitely known, and who invented bitcoins in the year 2009. This was a discovery that revolutionized the conducting of business transactions. This invention, even though it was anonymous, became a favorite with businessmen who used it to implement their business transactions.
Various means of making payments become simple and quick, when efficient use is made of bitcoins. The creation of bitcoins can be done quickly and operations get concluded with great flexibility. You can create your bitcoins and send them within seconds through Coinbox, and the payments will be received as soon as they are sent. You need to solve a few complex puzzles in maths to help to generate your bitcoins. Middlemen and banks are not required and this makes bitcoins a preferred means to complete commercial transactions. These transactions do not require any complex paperwork or documentation. You become your own bank once you have a bitcoin wallet. Many people have not yet realized the advantages that can come from buying bitcoins. Bitcoin use creates a lot of flexibility and transactions are easy and speedily concluded, as there is very little documentation required for the conducting of transactions. When business agreements need to be conducted, there is never a need for establishing the identity of the buyer or seller. There are many benefits and advantages that the buying of bitcoins has over the use of local currencies. These are listed below and and will make you realize the advantage you can have when you use bitcoin exchange instead of currency, which until now has been the normal practice for business.
Quick and cheap transactions
When you use local currency to conduct payments during the process of any business transaction, there is always some wastage from the processes of transferring money. The bitcoin fee for a transfer is about 0.005BTC. So every transaction may require a fee of between 700 and 1300 THB. Credit cards also require charges of 3 to 5 percent of the amount to be paid for every transfer. Credit card fees are much higher and can make for a lot of expense,compared to the low costs of a transaction concluded through the use of bitcoins. Bitcoin transactions are confirmed within 60 minutes, whereas wire transfers internationally, can require days after the conclusion of a transaction.
Transactions are irreversible
When you make payments through a bank or through credit cards, you can always reverse payments or ask for charge backs. This can be quite disappointing and leave you feeling cheated on a transaction. Reversing of payments is the one that is the worst in this regard. When you conclude transactions through the use of bitcoins, these transactions can never be reversed and this makes it very convenient for dealing with serious vendors.