Advantages of Bitcoin Transactions

There are a lot of users who are very apprehensive while moving over from the usual mode of transactions to bitcoins. A look at 1G Profit System will tell you all you need to know about the importance of bitcoins in this industry. There are many advantages to bitcoin. Let’s take a look at them

  • User anonymity

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The purchases of bitcoins can be made discreetly. The purchaser is anonymous. The user has the option to either disclose his identity and publish his bitcoin transactions or leave it as unidentified. This is similar to transactions made with cash where the user is not marked or noted. The bitcoin address that is generated for the purchases made by the user changes in every transaction. This makes the user unknown always.

  • No interruptions by the third party

There is no involvement of other parties such as banks, governments, and various other financial institutions. There is no interruption or possibility of freezes being placed on the Bitcoin accounts. It is a peer to peer transaction system. There is a lot of freedom that is enjoyed with the use of bitcoins that is not possible with an account that can be monitored by third parties. Dealing with national currencies involve various other hassles such as making the user prone to attracting the attention of other agencies.

  • No tax

The no tax advantage is possible because the users are not identified, traced or recorded. The transactions are not intercepted. This makes it hard to calculate any sales or purchase tax on the transaction.

  • Nominal transaction fees

Any transaction involves fees. There is a cost attached to all transfer of funds such as exchange costs. The lack of involvement of government agencies and financial institutions implies a very low cost of transaction fees during bitcoin transactions.

  • Quick transactions

The lack of third parties has another advantage. The transfer happens quickly and efficiently because there is no red tape and bureaucracy. There is no waiting period. There is no one whose authorization that is required. travelers for instance find it very convenient when the transactions go through smoothly without causing any lapse of time.

  • Mobile friendly

Bitcoins are mobile friendly. The software is compatible with your phones which make it all the more flexible and opportune. When transactions go through easily and are available as and when you need it, there is nothing like it.