Five Advantages Of Bitcoin Over Fiat Money

1. It Uses A Decentralized System

Unlike fiat money, cryptocurrencies, in general, do not involve any third party, such as banks, nor are they controlled by any entity, such as governments or central banks. In this way, the value of cryptocurrencies cannot be manipulated at the whim of a few.

Bitcoin is characterized by being completely decentralized, transactions cannot be tracked by any economic authority that functions as an intermediary. These transactions go through a proof of work protocol that is carried out by the collective network of users.

2. Has A Controlled Emission Limit

Bitcoin has an emission limit that will reach 21 million. This makes it a currency that tends to appreciate against others. All development of the cryptocurrency is described in its whitepaper and is closed in its code. Thus its value cannot be manipulated by governments, unlike fiat currency.

3. Real time transactions

Any transfer of money from one country to another usually takes between 24 and 72 hours. Bitcoin is transferred in real-time from one account to another and it is very cheap since you avoid bank fees.

With Bitcoin, you can send and receive any amount of money instantly to and from anywhere in the world, at any time. No banks with schedules. Without Borders. No limits imposed. Bitcoin users have complete control over their money.

4. High portability

One of the distinguishing features of money is portability, which means that it must be easy to transport and use. Because Bitcoin is completely digital, virtually any sum of money can be carried in a flash drive, or even stored online.

Cryptocurrencies give people the freedom to send and receive money by simply scanning a QR code or clicking on an online wallet. It takes very little time, there are no scandalous rates and the money goes from person to person without unnecessary intermediates; All you need is to have access to the Internet.

5. Geographic limitation

While there are some traditional currencies such as the dollar and the euro that are accepted in several countries, most of the world's currencies can only operate within the geographical borders of their country of origin. On the other hand, Bitcoin is a currency that is kept online and can be used anywhere in the world.

Bitcoin Still Has A Wide Scope For Developments 

Bitcoin technology has not yet been developed, it continues to grow as developers are added to the project. Also, the currency has not yet been adopted in a really massive way, which implies that we do not know how this currency will work when everyone is using it.

What we can highlight is that we reach a point where people have the power to decide how to keep and protect their money, nowadays individuals can save their income in a bank account as well as change them in cryptocurrencies like Bitcoin and store them in a wallet Bitcoin is becoming a refuge for many people, from investors to common individuals.

As you can see, today, the digital economy based on Bitcoin has advantages that optimize and accelerate business operations; It represents a decentralized method where each person or user is a mini bank that manages its own operations, so it does not depend on financial agencies or authorities to perform any operation.

Obviously, it is still in the process of improvement and growth, situations such as hacking or high price volatilities are arguments that indicate that having fiat money is logical. But the preparation and mechanisms that users adopt to manage cryptocurrencies will create a trend towards the digital economy in a safe and reliable way.