Interest in Bitcoin actually has surged over last some years – and everybody right from the governments to the grandmothers are now talking about this, but, there is a lot of uncertainty on how you can actually invest in this and reasons why many people are doing it. It might appear intimidating to begin getting involved with free bitcoin but this has become simple to start investing in the cryptocurrency and get started quickly.
Benefits to look at
Following are some major benefits of using BTC or other currencies:
Zero Third-Party Seizure
As there are many redundant copies of transactions database, nobody will seize bitcoins. Most someone will do is to force their user, and by other ways, to send bitcoins to somebody else. It means that the governments cannot freeze somebody’s wealth, and users of Bitcoins can have total freedom of doing anything that they want with the money.
There’s not any way for third party to catch transactions of BTC, and thus there is not any viable way of implementing Bitcoin taxation system. An only way you can pay tax will be, if somebody voluntarily sends any percentage of amounts as tax.
Unless the users publicize their bitcoin wallet addresses, nobody will be able to trace the transactions back. Nobody, besides wallet owners, can know how many of Bitcoins that they have. Even though wallet address was been publicized, new wallet address will be generated easily. It greatly improves privacy compared to the traditional currency systems, and where the third parties have an access to the personal financial data.
Zero Transaction Costs
Sending & receiving Bitcoins needs users to keep their Bitcoin client running & connected to some other nodes. Essentially, using bitcoins the users can contribute to a network, and sharing burden of the authorizing transactions.