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Why do we need bitcoin?

Why do we need bitcoin?

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Asked by H.Donna, Last updated: Jul 05, 2020

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P. Halah

P. Halah

Answered Oct 15, 2019

We need bitcoin because it comes with a lot of benefits. And that is why people are actually investing and making use of the payment system. The fact that bitcoin is a decentralized payment system that ensures peer to peer payment processing without the involvement of any party controlling the system. Bitcoin and some other digital currencies are designed in such a way that you don't need to worry about trust issues; you don't need to start under any organization before you can start.

Bitcoin is indeed one of the best options for people to purchase their preferred services online. With bitcoin as your method of payment, you don't need to give out your personal details before you can perform any transaction on the internet. Bitcoin also gives the chance to have total control over your money. No penalties, charges will be imposed on your money. It also gives you the chance to make your own financial decisions as you save your money.

 

h. George

Government employee and a part-time content writer.

H. George, Copywriter, MA in English, California

Answered Feb 26, 2018

Bitcoin is a cryptocurrency that is gaining popularity and acceptance as a currency around the world.

The future of bitcoin as a currency is unknown but more and more vendors are accepting bitcoin as a form of payment for a variety of services and goods. At this point, you certainly do not need bitcoin to pay for goods and services. Currently, cryptocurrencies, including bitcoin, are alternative ways to exchange goods and services. In the future however, cryptocurrencies may be an important part of the global market. As with any other form of currency, only time will tell which currencies become obsolete and which currencies become vital to the world economy.

 

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