Review on Bitcoin by Joseph Bello
Bitcoin The Currency Of The Future
Bitcoin trading is really wonderful experience for trader as a One Bitcoin unit is equivalent to 10,000 USD and serves as an awesome source of income to speculative traders and also a sources of income. Bitcoin consist of block chains which makes it difficult for criminals to access easily. It is a platform that promotes payment and transaction such as paying for tickets or buying a property, it is also free from any form of restrictions from central banks as it activities are not being controlled by government rules and regulations. With the increase in technological advancement a time will come when flat currency like the dollars will no longer be used as means of transactions but rather cryptocurrency will serves as the currency of the future upon which all transactions and payment will be carried out and it will promote the mining and trading of Bitcoin units.
Pros
- It is far better than the flat currency cause it can be used for almost any type of transactions cause it is a acceptable means of payment.
- It is a decentralized Payment system that works without oversight from a central bank and the Bitcoin account can't be freeze
- The rate at which mined Bitcoin units are sold is high
- Bitcoin account are highly secured as bitcoin unit are impossible to duplicate by criminals
Cons
- Bitcoin security codes can be access by hackers if used by a trader with low knowledge about Bitcoin security
- It is volatile band its volatility sometimes offer short term benefits for speculative traders
- Bitcoin traders are exposed to risk of hackers and frauds
- Bitcoin used in paying for transaction can't be refunded unlike the flat currency
