Bitcoin What Makes It Different?
Being the first and most popular cryptocurrency worldwide, Bitcoin (BTC) also has such money properties as divisibility, uniformity and portability. At first sight, BTC has the same advantages as bank cards, but in fact, it is not quite right. BTC has several advantages and is different from centralized payment systems.
Decentralization
In the Bitcoin network, there is no financial intermediary. Users transfer funds to each other without any censorship.
Control
Only the owner of the private key has access to the crypto wallet and he/she is the only one entitled to dispose bitcoins stored in it.
Speed
The speed of processing and confirming payments does not depend on the amount of transferred funds or the distance between users.
Low Fees
Transactions in the Bitcoin network are conducted directly between participants, the fee is charged only once, and a sender is the one who adjusts its size.
Anonymity
All members of the Bitcoin network are anonymous, no one knows their identities and contact details. Whereas the system is transparent, the network users see public wallet addresses of senders and receivers as well as the transaction amount. However, their identities and locations remain unknown.
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