Bitcoin or bank? If you are facing Bitcoin for the first time, I recommend that you first read the article What is Bitcoin and then start reading this article.
Or if you know what Bitcoin is, don’t leave this page and follow the article to find out the benefits of using crypto and Bitcoin technology.
If I define Bitcoin briefly, it should be said that Bitcoin is a non-physical money that works decentralized with sufficient security using the process of encryption and blockchain technology.
The organizational structure of cryptocurrencies and blockchain is very different from fiat money and banks.
Bitcoin was created in 2008 with the aim of destroying traditional money and banks that have been successful so far.
We all know that wherever we are in the world, banks and fiat money are completely managed by a centralized system.
It means that when you give your money to the bank, it means that you have entrusted your money to a reliable person.
This is an issue that many people in the world ignore, but it should be considered that Bitcoin has put an end to the questions that have arisen around this issue.
Just read the difference between Bitcoin and banks in this article and decide for yourself which one is better and more powerful for the public.
Bitcoin or bank?
Bitcoin or bank? First, we will look at the differences between digital currencies and banks, then we will examine their benefits and the superiority of cryptocurrencies compared to fiat money.
The first difference between fiat money and digital currencies is their physical nature.
You will remember paper money or metal coins how hard it was to take care of them!
Keeping cryptocurrencies is much easier than fiat money, just keep the passwords and keywords of your wallets in hand.
Cryptocurrencies work decentralized with high security using blockchain, in this case, most people will face the concept of security, which will ultimately lead to the superiority of blockchain over the bank, which is a centralized database.
Fiat money does not fluctuate much like cryptocurrencies, and this has led people to move to Bitcoin to get a higher return on their investment.
Going to the bank has become a problem for everyone these days because most people don’t have time to go to banks and stand in queues all the time.
To use crypto technology, you don’t need to go to the bank and waste time in queues, just have a mobile phone connected to the Internet.
Banks all over the world are closed at the end of the week, but the cryptocurrency market is open at all times of the day and night. This is one of the important advantages and fundamental differences between Bitcoin and banks.
Bitcoin asset transfer fees are cheaper than fiat currencies.
The important difference that separates government money from cryptocurrencies is that fiat money does not have the power to move assets across borders and must be done by intermediaries such as banks, exchanges, etc. This cry is very complicated and time-consuming. The fund is for people who want to send money abroad.
Bitcoin has solved this problem that exists in fiat money and it has become very popular among investors.
People can send their assets without any restrictions to any part of the world in the shortest possible time through Bitcoin and the cryptocurrency industry.
We have almost said the important differences between Bitcoin and banks. If you know another difference between the two, please send it in the next article.
Advantages of using crypto and bitcoin technology.
Bitcoin, as we said at the beginning of the article, aims to eliminate traditional paper money and banks.
If you read the differences that we said carefully and deeper, you can find the benefits of using new technology to some extent, at the same time, we will discuss the superiority of using crypto technology over banks.
Unlike fiat money, cryptocurrencies can protect people’s assets against inflation, recession and economic crises.
Bitcoin is more accessible and online than fiat money if it is completely decentralized.
BTC coins are more profitable than fiat money, this advantage has led to heavy investments in digital currencies and Bitcoin throughout the year.
The technical structure of valid cryptocurrencies and the first tier of the crypto market is more valid than banks.
We have seen a lot of how banks go bankrupt!
But Bitcoin cannot be deleted! It’s just like the internet.
Another advantage that Bitcoin has, unlike the rules of banks, people and their Bitcoin assets can play a role in the future of Bitcoin. However, decisions for banks are only implemented by the bank management.
Banks around the world have regulations, but cryptocurrencies, due to their inherent nature, still operate in most countries without regulations.
The lawlessness of these interesting currencies has created financial freedom in the world, which has the ability to create financial independence for people.
It goes without saying that every new technology that emerges in the world by facing various crises, including monetary policies, national security, regional and economic tensions, etc., can be eliminated, but Bitcoin has been successful against Difficulties.
Bitcoin is a global currency while no fiat currency has this power.
Definitely, with further developments in this industry, we will see the creation of stronger and newer technologies.
Bitcoin is the beginning of a financial revolution in the world.