This article, as we had proposed in 2014, is still valid. Back on an analysis that has not taken a wrinkle.
As a reminder, bitcoin is a virtual currency universal created in 2009, a currency that is different so that you can find on the forex. It is a monetary system independent does not need banks to ensure the processing of transactions. The exchanges are performed between peers.
Initially, only used by geeks, it has gradually spread all over the world. We present you with the advantages and disadvantages in this article.
Benefits of bitcoin
– Transfers almost instant, less than ten minutes and costs zero,
– Global Dimension of trade,
– Payment costs below those of bank cards or Paypal,
– No limit in the amounts transferred,
– No intermediary to store or transfer bitcoins,
– Possibility for anyone to redeem,
– Anonymity of transactions.
Disadvantages of bitcoin
– Ignorance of bitcoin : Even if the mediation is strong, many people are unaware of what a bitcoin is. More and more companies are turning towards this system but still not enough to create network effects
– The volatility of bitcoin : In theory, the more individuals and companies will use the money, and the more it will be stable. Today, each event affects in a significant way the price of bitcoin, so this should fade with time.
– Increased vigilance necessary : to the extent where you store your bitcoins on your computer or on an online portfolio, it is important to protect the latter and to verify that the supplier portfolio is, too.
– The irreversible nature of transactions : When your transfer in bitcoin is gone, you can not do anything. It is therefore important not to confuse the recipient.
The bitcoin is a very easy tool to use to exchange money without too much expense. Be careful, however, to be well informed beforehand, because even if the currency is virtual, it can make you fall in bankruptcy.