What is Bitcoin?

Bitcoin cryptocurrency is becoming popular day by day. It is an easy and convenient method to transfer all type of payments between two or more persons.

What is bitcoin and how to use it in CryptoCoins-Bank?

Bitcoin is the more safer and fastest way to pay any individual or a company in the world. It's most secure and efficient virtual currency for payments. There are key advantages of using Bitcoin as a payment method for business or personal purpose.

Bitcoin is a digital virtual currency and is the form of money created based on the program code and computing powers.

Bitcoin is not owned by any person, state, company or banks. It is the world's first decentralized payment method. Everything depends on Bitcoin network including money transfers. Transfers are made on the peer-to-peer basis without any intermediaries between sender and receiver.

Advantages of Bitcoin:

  1. Strong Safety Level

    Bitcoin transactions and balances were handled by Blockchain network. No one can control or block blockhain wallet. Bitcoin does not depends on any agencies, government or central banks. It is not regulated by any international laws. The wallet is created anonymously, and all transactions can not be cancelled once its made.

  2. Cheap transaction fees anywhere in the world

    Bitcoin transactions are very cheap. Transaction fees does not depend on transaction location or any law or regulations of country. Regular bitcoin transaction fees range from $0.20 to $1 in average. You can make a free transaction without paying any duty or charges.

  3. Convenience

    Bitcoin system works 24x7 all days, including holidays. It is not a bank, so you can send and receive payments even on holidays!

  4. Instant transfers

    Bitcoin has capability to transfer small or large amount of payments any where in he world. safe money transfer of small or large amount of payment.

  5. Protection against inflation

    Sometimes national currencies depreciate by 1-20% of more. It depends on central bank of particular country or on world economy. While Bitcoin depends millions of transactions and proof of work. Additional point is that Bitcoin is protected against inflation.