The founder of Bitcoin, Satoshi Nakamoto, proposed an electronic payment framework referencing a mathematical proof. He wanted to create a currency independent from any centralized governance, that could be transferred digitally very fast in mere minutes with significantly small fees. And Bitcoin was born.
The best features of Bitcoin:
Buy anything online
You can use Bitcoin to shop online—kind of like the mainstream dollars, pounds, or euros, which are also used in transactions online.
You’re in charge, Not some bank
Arguably one of the best features of bitcoin is that its decentralized. There isn’t a single institution that controls Bitcoin’s network. It means that you’re the only one who can control your money.
Set up is a breeze
Nowadays opening a bank account is like an obstacle course, do this, sign that, do that, go there, etc., but with bitcoin, it will only take you less than a minute, no fees, and no questions.
That’s not all…
No one will know
Well, not quite exactly but the good thing is that you can have as many Bitcoin addresses as you want and no one will be able to link them to your private credentials—address, names, etc.
The real story is…
Crystal clear transparency with a clever twist
Bitcoin has a blockchain, which is sort of a huge general ledger that records each and every transaction that has ever occurred in the network. Meaning that if you ever used your bitcoin publicly, then anyone can find out how much bitcoins you have.
But what is the clever twist…
Even if they find out, they can’t tell it’s yours! Additionally, there are some measures you can take to make your transactions absolutely anonymous. Like not transferring huge amounts to one address or using different addresses every time you transact.
Unbelievably low fees
You might get charged ten bucks for international money transfer by your bank; Bitcoin doesn’t charge you a dime.
Remarkable speeds--you’ll be done before you down your cup of coffee
Send money to anywhere in the world, and it will get there in a couple of minutes once Bitcoin’s network processes the transaction.
Non-repudiable
Once your Bitcoins are sent, you won’t get them back unless the receiver is kind enough to give them back. So, do be careful but besides that, it’s a remarkable feature.
You won’t believe what is based on…
Science! —particularly mathematics. There are software--designed to function using a mathematical formula, being used by people all over the world to generate bitcoins.
Moreover, to top it all off, the mathematical formula is free for everyone to access and so is the software open source.
How Bitcoin is made
No single entity “prints” Bitcoins, it is generated digitally by a large community of people which you, and anyone else can join. Essentially, they are sort of “mined” by using the power of a distributed network of computers.
But wait, there’s more…
This network is also responsible for processing all Bitcoin transactions which virtually makes Bitcoin its very own payment system.
Why Bitcoin
Bitcoin has grown to become a popular virtual currency to the extent that it threatens the U.S dollar. It was created as a result of the U.S financial crisis and probably partly also based on the economic system of the U.S.
The future is Bitcoin
Our civilization is completely dependent on middlemen—banks, to enhance reliability in our economies. So far, they’ve done a great job fulfilling that purpose, but there are issues arising which are deeply rooted in this old model for business which is clashing with novel technology.
Here is the real story…
A key feature of the old business model is centralization which is currently failing under pressure. An excellent example is the recent Brexit and the voting of Trump—an inherent symptom of centralization. However, this isn’t restricted to the US or Europe.
Let us explain why Bitcoin is the future.
Bitcoin is the future, seeing that many “mushroom markets” and developing countries have grown fond of Bitcoin thanks to the increased financial instability and unstable currencies. It also shines above the rest when it comes to inter-border transactions thanks to its speed, trust, tiny fees.
Even China loves it! It is estimated that the People’s Republic of China accounts for 99% of the volume of Bitcoin Traded.
There is a lot of money to be made in Bitcoin, and with a bright future ahead, you will regret not jumping on this bandwagon. We as Bitcoin faucet are here to help you achieve financial freedom.
