Fiat currencies are national currencies which are considered legal by the government of the country which owns it. It is valueless money which cannot be used for depositing on gold or other investments. It is considered as legal paper which can be used in a particular country and banks. The Bitcoins currencies offer various advantages as they are based on the technology. There are various reasons why Bitcoins beat Fiat currencies like Dollars. You can subscribe to Bitcoin Newsletter on various sites so that you get updated on the basics of using Bitcoins. The bitcoins leap is beautifully explained by www.bitcoinmagazine.com/articles/bitcoins-journey-1000-10000-stories-got-us-here/.
The article discusses in detail about the benefits of using Bitcoins currency compared to Fiat currency.
Offers Financial Freedom
When you make use of Fiat currency or Dollars, you are managed and controlled by the banking system. Thus it is possible to live with complete financial powers by making use of Bitcoins. You need not rely on banks to use Bitcoins or to make an investment through it. You have the entire freedom and financial powers vested in your hands when you deal with Bitcoins currencies. You get to enjoy with an economic system which is no way related to a bank. Thus by the use of Bitcoins your free from the rules and regulation of the banking system.
Bitcoin Value Increases
It is seen that people who make use of dollars as the currency for investment experience a sudden decrease in inflation. Dollars are likely to lose its value every year. This is because of the circulation of the currency increases. So it is high time that you make use of deflationary currency as the circulation limit for the currency is fixed. Thus the value of Bitcoin currency increases over time.
Consider that you want to transfer a huge amount say $1 million from your account to another account. It is not very easy, you need to complete several formalities suggested by the bank. Also, you may be interrogated about the amount by the banking personnel. Also, when you try to move a huge amount from one place to another physically, you may face various security issues. This is not the case when you deal with Bitcoins currencies. It is possible to transfer a huge sum of money in milliseconds to another account. The speed of Bitcoins is incomparable.
Secure And Safe
Paper currencies like dollars are prone to theft, and you may lose it due to your negligence. It is not possible to miss a bitcoin currency as these are completely digital and can be saved or take a backup of it. This type of currency is less likely to be missed. It is a perfectly safe and secure way to process your transaction. There are possibilities of trapping the public blockchain, hacking the network when the bitcoin exchanges take place.
There is a bright future waiting for people who make use of bitcoin currency. There are chances for Dollar to collapse. The above are the significant benefits of using Bitcoins currencies.