Why bitcoins are famous mode of transaction?

[BrolySSJ]

Bitcoins are a famous mode of transaction because they are anonymous for both senders and recipients, transactions are transparent, traceable, irrevocable or falsified, transactions are carried out directly without going through a third party (bank). cheap and fast.

There is a contradiction in the explanation that you have given here. You say that Bitcoin is anonymous and yet you go on to say that it is traceable. IF this is the case of the wouldn't that make Bitcoin non-anonymous? The reason why I am asking this question is that I have always wondered if bitcoin traceable based on IP address and so forth. What do you think? Do you feel that this is possible ? Why do you say it is traceable?

 

[Suba]

There is a contradiction in the explanation that you have given here. You say that Bitcoin is anonymous and yet you go on to say that it is traceable. IF this is the case of the wouldn't that make Bitcoin non-anonymous? The reason why I am asking this question is that I have always wondered if bitcoin traceable based on IP address and so forth. What do you think? Do you feel that this is possible ? Why do you say it is traceable?

Anonymous means unknown owner / sender or recipient, while traceable means Bitcoin addresses both sender and recipient can be seen on the ledger blockchain, Bitcoin addresses are often used by investigators (for example the FBI) to trace traces on the blockchain, but investigators will get in trouble if Bitcoin addresses sent to mix wallet (like wasabi wallet) or sent to darkweb. Meanwhile Bitcoin tracking cannot use an IP address. because Bitcoin works on the blockchain.

 

[Rimsha kanwal]

Bitcoin getting famous for transaction could have many reasons including the anonymity it offers, it is also quite relatively fast and also it is a very good option for cross-border transactions.

Bitcoins allow buying of goods and services online, as well as transferring money. ... It's like an e-wallet which can be created blockchain technology to store, track and spend digital money. Less volatile than cash: Bitcoin has a global acceptance and is less volatile than cash / local currency.

 

[Josemendez]

Now a days, digital currency trends are high. Different contrives think to shift their transactions towards cryptocurrencies. Bitcoins is also a form of digital currency.
what do you think
Bitcoins are famous mode of transaction among people?

Bitcoin is the first cryptocurrency and has gain suitable grounds in the cryptocurrency world. People and Countries have seen the potential in Bitcoin ,and thus is the reason why it's adoption is fast growing on daily basis.

 

[Taimoor Jutt]

It is famous for Transaction because it used to border transaction. It is digital currency so that makes it unique and popular. It gives a lot of benefits.. As no one can control. By investing in Bitcoin you can earn much more.

 

[Lyrrex]

Bitcoin is very recognize currency exchange for cross border transaction.
Bitcoin has gained popularity and it is legit digital currency recognized and adopted and currently being used to transact business.
The Platform is increasing and rising very fast and many people are investing in Bitcoin.

I know is true but I heard that there are some countries of the world that consider bitcoins and other cryptocurrency as an illegal business,if this is so that means not all part of the world accept cryptocurrencies as a normal mode of payment in some online companies like forums, to me I think cryptocurrencies is only acceptable in the Western countries and Africa

 

[GIFTMICHAEL]

For Bitcoin to be famous or popular every country and companies must not accept it.

There must be a country where it can never be acceptable and legal digital currency.
To me Bitcoin is gathering momentum.

 

[Dowenship]

Now a days, digital currency trends are high. Different contrives think to shift their transactions towards cryptocurrencies. Bitcoins is also a form of digital currency.
what do you think
Bitcoins are famous mode of transaction among people?

Not everywhere actually... Some Arab countries are not using it for any mode of transaction for now. But is a gradual process before it reach the world. But close to 200 countries are using bitcoin for transaction yet but not for physical trading.

 

[Iamsodex]

I think this is because Bitcoin was the very first crypto currency and it's super fast. Unlike regulated banks that need you to fill forms before processing large amount of money, with Bitcoin you can process huge sums of money with very low transaction fees and it's very fast and reliable so that sums it up.

 

[Bart Simpson]

Bitcoin is the first cryptocurrency and has gain suitable grounds in the cryptocurrency world. People and Countries have seen the potential in Bitcoin ,and thus is the reason why it's adoption is fast growing on daily basis.

 

[MRizwan530]

Now a days, digital currency trends are high. Different contrives think to shift their transactions towards cryptocurrencies. Bitcoins is also a form of digital currency.
what do you think
Bitcoins are famous mode of transaction among people?

according to my opinion it is not a big issue only it is trend that people trust on bitcoin so the payment method is only bitcoin.
Some wallets are accepting ethereum so I don't think Bitcoin is only the transaction method.

 

[Ehtisham memon]

This currency develop in the some year ago but some people earning this mining currency but now this time bitcoin currency increase and trading market value increase from the other marketing values this time every one. Wants to joined this site and develop our business and investment in the trading market

 

[iamgroot]

Now a days, digital currency trends are high. Different contrives think to shift their transactions towards cryptocurrencies. Bitcoins is also a form of digital currency.
what do you think
Bitcoins are famous mode of transaction among people?

Bitcoin is famous because it is the big brother of all crypto if im nkt mistaken, but being famous in transactions? I think not. Because it has higher transaction fees compared omto other cryptos like XRP and BCH.

 

[GoldenLady]

Now a days, digital currency trends are high. Different contrives think to shift their transactions towards cryptocurrencies. Bitcoins is also a form of digital currency.
what do you think
Bitcoins are famous mode of transaction among people?

This should be boundless transaction that can be carried out effortlessly and very fast with Bitcoin.

The fact that it is also a very good took for investors, and traders, both short and long-term is another factor.

 

[MarieArie]

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be the most prominent triple entry bookkeeping system in existence.

 

[Alogakho Esson]

Bitcoin is a currency that gain globally recognition and exchange values is well appreciated it had good market value

 

[ossai]

Lately, the global interest in bitcoins has grown. So, it becomes extremely important to understand the base of this and all other forms of virtual currencies. Bitcoin, and its alternatives are all based on cryptographic algorithms which are encrypted. This makes the currency decentralized giving ownership to the user.These can be purchased through an online exchange or a Bitcoin ATM. Landmark feature of a bitcoin is that it can curb the chances of fraud and identity thefts, and hence is considered a safe mode of holding money.Bitcoins allow buying of goods and services online, as well as transferring money.

 

[Nicklas22]

Due to the unique nature of virtual currencies, there are some inherent advantages to transacting through bitcoin over fiat currencies. Although over a decade old, the digital currency landscape is constantly changing, with most tokens being untested as a medium of exchange, and users should be careful to weigh their benefits and risks. That said, bitcoin is designed to offer users a unique set of advantages over other payment methods. We'll take a closer look at those below, but before we do, it will be useful to explore what bitcoin is. By better understanding how bitcoin was designed, it will be easier to see what the advantages of using bitcoin for payments are.

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[Zamaney]

Landmark feature of a bitcoin is that it can curb the chances of fraud and identity thefts, and hence is considered a safe mode of holding money. Bitcoins allow buying of goods and services online, as well as transferring money.

 

[Erik4150]

Bitcoin is a famous mode of transaction because it is the biggest and most valued cryptocurrency. Most people prefer receiving payment in bitcoin because unlike fiat currency bitcoin can be traded for bigger profits.