• Register

LIVE CHAT WITH DOCTOR

See Recent Sample Chats

Select Specialist to CHAT--

Dr. Tufic Abdo Board Certified Physician, All Medical Specialties, 100% Positive reviews

Dr. Abacan Mathews Board Certified Physician, Internal Medicine, 100% Positive reviews

Dr. Lucy Samuel Board Certified, Women Health-Pregnancy Doubts, 100% Positive reviews

.....and Many More

Ask a Doctor Free Online Now

So what can I Use Bitcoins For?

0 votes
Practically, just about any services or products that can be bought with dollars or any other currencies can also be bought with bitcoins. However, the prime volatility of bitcoins has become a risk for many people that may require to use this cryptocurrency, but they're afraid about price differences. Nevertheless, the functions of bitcoins make sure they are perfect for internet payments:<br /><br /><img src="https://d1btnptfa0r0eu.cloudfront.net/wp-content/uploads/2017/08/170816-bitcoin-b-634x357.jpg"><br /><br />1. Fast transactions<br /><br />A bitcoin transaction is processed in 10-15 minutes. In case of a bank transfer, it could take hours as well as days for cash to get from account to another. Some might point out that PayPal or other ewallets are even faster. It is a fact, but there are other aspects that ewallets can't give: privacy and smaller commissions.<br /><br />2. Privacy<br /><br />Once you send bitcoins into a partner online, the transaction is going to be registered in a blockchain. The list of transactions is public, therefore it may be verified on specialized websites. Only the identification number, the sum and the time are recorded. It's impossible for an individual to find out where the bitcoins come, where they are going. This really is sign of bitcoins attracted many individuals. Well, some of those want about it since they can buy illegal goods with those, nevertheless the majority of bitcoin users are people who want to buy legal items and services, but which don't wish to disclose their identity. Porn and gambling websites might be immoral, however they are not illegal, so people who wish to subscribe for anyone services can without danger pay in bitcoins for the websites that accept this currency, knowing that their reputation won't be affected.<br /><br />3. Smaller commissions<br /><br />The common commission is 0.002 BTC to get a transaction. It really is significantly smaller compared with the PayPal or banking commissions. Moreover, you are not even obliged to cover it. If you are paying a commission, you "reserve" the computational power a pool (at least an element of it), to process your transaction faster. You'll potentially have to not spend the money for commission. In this instance, you might need to wait two or even three days for the transaction being processed. If you are not in a hurry, this can be the right chance to make money transactions with zero costs.<br /><br />Needless to say, there are also disadvantages for making use of bitcoins, including the possible ways to lose them. If somebody steals your bitcoins, or if you delete the wallet files, it really is impossible to recuperate those. As long as the <a href="https://bitcointalk.org/index.php?topic=2133358.0">cryptocurrency</a> just isn't regulated, there isn't any central organism for arbitrage between divergent parts. Quite simply, you can't complain if you lose otherwise you are robbed through your bitcoins, simply because there is certainly nobody to complain to.
asked Jan 4 by liquoreel06 (120 points)

Please log in or register to answer this question.

Need an Answer? 25 Doctors Online
Provide more detailed information on the next page.

Disclaimer : All the health information, content and live chat provided on the site is intended to be for informational purposes only, and not a substitute for a face to face doctor or medical advice. You should always consult with your doctor before you follow anything that you follow from this website. Any health question asked on this website will be visible to the people who browse this site. Hence, the user carries the responsibility not to reveal any personally identifiable information in the question.
...