Bitcoin is a new form of money that is the first decentralized e-currency not controlled by a single organization or government; all operations are made on the basis of Peer-To-Peer technology (P2P). It is backed by the capitalist law of supply and demand and is the open source software that ensures its consistency. Launched in 2009, Bitcoin is one of the most popular payment methods among high-yield investment programs (HYIPs).
Unlike standard e-currency Bitcoin system has no bodies of control, respectively, the instability is minimal. The issue of new title Bitcoin characters is limited (total number of bitcoins is capped at 21 million), programmed and known to all the participants in the system. As Bitcoin system is based on the principle of the limited total number of coins, the currency is subjected to the deflationary process. This predictable deflation stimulates using Bitcoin accumulation for speculations. This should be considered when you are going to exchange Bitcoin to USD or any local currency.
Bitcoin’s high cryptographic security allows processing transactions in a very efficient and inexpensive way. You can make and receive payments using the Bitcoin network with almost no fees. In most cases, fees are not strictly required but they are recommended for faster confirmation of your transaction.
International wire transfers takes from a few days to more than a week, whereas Bitcoin transactions are generally confirmed within an hour.
Bitcoin is the only payment method that is 100% irreversible and cannot be charged back. For this reason you should be careful when sending Bitcoins; be sure that you are sending them to a trusted vendor. All financial and technical data related to the Bitcoin network can be found in a Bitcoin charts.
Deposit and Withdrawal methods
Deposit methods: Coinabase (a Bitcoin wallet with the option of buying or selling bitcoins using a US bank account), Bitcoin exchange markets, Bitcoin exchanges, International Wire Transfer, Bank wire, other e-currencies, Bitcoin debit cards, Bitcoin POS-terminals, Bitcoin mining, Bitcoin faucet.
Withdrawal methods: Coinabase, Bitcoin markets, Bitcoin exchanges, Bank wire, Wire Transfer, Visa/MasterCard cards, other e-currencies, Bitcoin debit cards, Bitcoin-ATMs.
- No third-party seizure
- Zero or low fees
- Fast international payments;
- No Risk of “Charge-backs”
- Аccounting transparency
- High-level user’s account security;
- Protection against fraud
- Bitcoins are not widely accepted
- Bitcoin valuation fluctuates
- Built in deflation