We live in a digital world. It’s possible to make a video call with a friend on the other side of the world from Europe in seconds. But how to send 100 € to this same person in the same amount of time? With Bit coin, it is possible to send money to recipients all over the world, all within minutes.
No control of the capital
Capital control is another subject that most Western countries do not understand or care about. But for citizens of countries like Greece or Cyprus, capital controls are real and limit the way people can use their own hard-earned money.
Because btc is only a network and is not controlled by a single authority, there is no sending limit and no transaction can be blocked. This may be the only way to send an unlimited amount of money anywhere in the world
Transfers are fast
- The only thing needed to send or receive bitcoins is a Bitcoin wallet (Bitcoin Wallet ), which can be downloaded to a computer, phone or USB stick. Once two parties have a Bitcoin Wallet, the recipient simply shares their address with the sender. Once the payment is sent, the recipient receives the funds in seconds, no matter where these two people are.
- Bit coin is more private than existing payment systems
- While opening a bank account requires providing private and personal information, a Bitcoin wallet can be created by anyone without giving sensitive personal details.
- It is, therefore, possible to send money to a person without knowing his name or location.