Whereas ‘bitcoin’ is a commonly heard term, but there are some people who actually know what exactly it is. Whereas it is one type of trading system, it’s a bit different from others trading options for two important reasons. First, it involves one type of the digital currency that will get transferred easily. So, what makes this unique is a fact it doesn’t involve any banks and other official financial organizations. It is just the P2P system, which is unaccountable and independent. Following are some important and current bitcoin news and highlights to look at:
Anonymity – Suppose you wish to carry out some simple transactions without your personal identity or bank account details, then bitcoins make this possible. All your transactions done are anonymous, till you choose it otherwise, and will not get tracked to you. For each transaction, there’s the address created, which is unique and won’t be repeated.
Privileges for receiver – Unlike other types of the trading, bitcoins are highly irreversible and one can’t cancel the payment when you have sent this. Suppose you have to reverse any transaction, you require receiver’s consent. Also, transactions take around 10 min to complete, not like other financial dealings that are processed immediately.
Buying luxury items – The major reasons that bitcoins became highly popular was a fact they are perfect for buying the foreign luxury items. Also, these are ones that are highly taxed by governments of the countries, and final cost gets high. As bitcoins don’t involve any kind of governmental institution, there’re zero taxes to pay.