Bitcoin – CryptoCurrency

Bitcoin – CryptoCurrency

Bitcoin – CryptoCurrency

BY BARCODEQMAY 19, 2016CRYPTOCURRENCY, TECHNOLOGY NEWS

One of the biggest revolutions of 21st century is bitcoin. Many people and businesses are embracing bitcoin economy. Today, there is opportunity to earn free bitcoins and use them to shop online. But, what is bitcoin?

Bitcoin, also known as a crypto-currency, is a decentralized payment system that allows people to send currency to each other online without the need for a trusted third party such as a bank being involved in the whole process. The transactions are usually cheap and mostly free. This explains why it has quickly become a popular currency online. So, what are the advantages or good reasons to earn free bitcoins?

One good reason to participate in free bitcoin earning is that it is still relatively new. If you join the bitcoin economy now that it is still at infancy, you will have the opportunity to be one of the leading bitcoin earners. If you have a business, you can get publicity for it if you participate in free bitcoin earnings. Most businesses online now accept bitcoin as a mode of payment.

Another reason you should get into bitcoin community is that there is zero transaction fees for trans-continental money transfers or instant transfer. You have opportunity to reach anyone on the planet who has access to the internet and carry out your business transactions. Thus, there will be no delay from a third-party. Bitcoin economy is already flourishing and you can begin to earn some bitcoins freely. Also, the free bitcoin you earn can be used for advertisement on various bitcoin earning platforms.

Bitcoin

To start earning and using bitcoin now is that there is no chargeback in bitcoin. Once you trade bitcoin or transfer the currency, it is gone. No way to reclaim the money without the recipient’s permission. Thus, it discourages chargeback fraud that is common with credit cards usage. For instance, when someone buys goods and he discovered that it is defective, he may contact credit cards agency to make a chargeback, effectively reversing the transaction and resulting into loss for you. The credit card companies do something like this often. But, with crypto- currency, it is completely safe.

Also, the issue of inflation does not affect bitcoin. With traditional currencies, for example, the government may print more money whenever the economy is sputtering. The injection of newly printed money into the economy usually causes a decrease in currency value, thereby triggering inflation. Of course, this will decrease people’s power to buy things because prices of goods are high. On the other hand bitcoins are in limited supply. This is because the system was designed to quit mining more bitcoins on reaching certain level. What this means is that that inflation will not be an issue or be triggered at anytime.

Lastly, bitcoins are legitimate and major financial institutions have decided to take bitcoins for trading. Besides, many online outlets like Baidu, Reditt, Pizza chains, WordPress, binary and Forex brokers now accepting bitcoin for trading. Therefore, you should begin earning free bitcoins now and use them for your online transactions.