You could have heard about bitcoins before, but you might not know completely how such currency could get such high demand that its value became so high. Besides its absolutely limited stock and high demand, there are more things to pay attention to. This cryptocurrency has been dominating the online market nowadays and the demands seem never ending. Many people just going to enjoy the anonymity and the thrill of fluctuating prices. But actually, there are more into this. Here are several things you might not have realized yet until you read this article:
Bitcoin, bitcoins api and all kinds of its service give its users anonymity. Using this currency is the same as buying something with virtual cash, but there is no way to know who the buyer is. There is no way to track back the transactions, and any of your purchases made in bitcoin would never be connected to your personal data. But since it is very discreet, the process would also take longer than the conventional ones.
Free From Tax
Tax is something you should pay for every luxury items you are going to buy. There is no way to evade the taxes as long your identity is included in the purchase detail. Bitcoin and its anonymity is the most “legal” way to evade all kinds of tax that is included in luxury items. While your identity is completely unknown, there is no charge the tax to an unknown person. This is why people from all over the world are so keen on having the ways of purchasing and accepting bitcoins as payment.
Transaction fees are common when you are using the third party services. What makes bitcoin different is that this currency doesn't have any intermediary between users. It means all the transactions are made completely between two users and there isn't any banks or third party involved in any of its transactions.
The most convenient online payment method might fall to cryptocurrencies. As long as you have the internet connection, you can do transactions from any part of the world. You could purchase the coins anytime while doing anything, since it doesn't belong to any bank, it doesn't have any strict confirmation phase like conventional online banking's.
Being independent means Bitcoin is free to form any intervention from governments, banks, and other usual intermediates that might interfere with your financial activities.