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Review on Bitcoin by Sophie Brauer
Bitcoin currencies can be exchanged for real money and are of great value…
Bitcoin currencies can be exchanged for real money and are of great value. Bitcoins are widely used and of international scale. It can be used to buy as much value as real money, a bitcoin worth up to $ 1,021.10 at the time blogtienao wrote this article and is also the world's most valuable currency.
Pros
- Convenience in transaction: If with banks or online payment service (intermediary transaction) will usually have a limit on the transfer and receive money in the day as well as time but with bitcoin is absolutely not, You can send unlimited amount, anywhere in the world at any time for relatives, friends without anyone managing the money you send.
Cons
- No Physical Form Since Bitcoins do not have a physical form, it cannot be used in physical stores. It would always have to be converted to other currencies. Cards with Bitcoin wallet information stored in them have been proposed, but there is no consensus on a particular system. Since there would be multiple competing systems, merchants would find it unfeasible to support all Bitcoin cards, and therefore users would be forced to convert Bitcoins anyway, unless a universal system is proposed and implemented.
