Gains of making payments with bitcoin

[Augusta]

Despite all the issues that we might be confronted with when payment with Bitcoin, but it's advantages outweigh them. Especially when it comes to the fact that you don't need to carry bulky amount of money around like with fiat currency.
Another gains include being able to transact business without the identity being out there especially if you really want and value your privacy. You will have no business with any bank charges and again it is about peer to peer focus, you would I'mmediately sent and receive money from any one in the whole wide world without having to be controlled by any internal or external forces or needing any kind of approval from any authority.

So what are your gains for using Bitcoin as your preferred payment option?

 

[Lekhraj19]

Honestly, I haven't been to the Bitcoin and it's payment. I have been reading over that how it has been working now and what are the things that you need to have to start dealing with the Bitcoin and other crypto currencies.



However, the fact you kept here is quite unique as it is right that when it comes to sending money or doing large transactions through bank, they sometimes limit the payment for the new beneficiary or charge taxes sometimes. But, as you mentioned of that the Bitcoin is easy to transact large amounts, it's good because we don't need to be focused on any type of protocols of the bank or any authority.

 

[Ahmedo24]

Bitcoin transactions/payment has been convinient and seamless, you don't need to bother yourself with any stress, thanks to most of the exchange platforms . The good part of bitcoin payment especially by outlets or companies that are big is that most they get bitcoin at lower price then resell at higher price.

 

[Kennysplash]

Bitcoin as means of payment has more disadvantages than advantages. For one thing, the fees will take almost all of the payments. You have to pay a high transaction fees if you are making payments with Bitcoin, and in most cases of the person receiving is not careful he might be the one at loss. This is because after receiving the Bitcoin he has to sell to gain his money, and that too can take high fees. So care is needed when paying with Bitcoin, but it is best if it's avoided.

 

[Ahmedo24]

Bitcoin as means of payment has more disadvantages than advantages. For one thing, the fees will take almost all of the payments. You have to pay a high transaction fees if you are making payments with Bitcoin, and in most cases of the person receiving is not careful he might be the one at loss. This is because after receiving the Bitcoin he has to sell to gain his money, and that too can take high fees. So care is needed when paying with Bitcoin, but it is best if it's avoided.

There are logics to use in this case or circumstances however the only time the reciever loose out is when the price of bitcoin crash before he recieve it otherwise only the sender bear the fee and the best is to always use wallet you can easily convert to a stable coin or your local currency to avoid fee. We keep learning .

 

[Alexandoy]

Do you mean to say that if you receive a payment in Bitcoin from a ptp forum that you are working on like Trendri (an example only) then there is no fee that you are charged with? But how do you spend that amount when it is in Bitcoin, is there no fee to pay when you convert the Bitcoin into your fiat currency or in US dollar?

 

[Sherman198]

Payment with Bitcoin is easy to make without much hassles or stress. Sometimes you might want to make some transactions without needing or wanting a third-party to know about it, I think Bitcoin gets you covered in that situation. Again, Bitcoin save you all the problems of facing or experiencing bank heavy charges and all.

 

[Ahmedo24]

Do you mean to say that if you receive a payment in Bitcoin from a ptp forum that you are working on like Trendri (an example only) then there is no fee that you are charged with? But how do you spend that amount when it is in Bitcoin, is there no fee to pay when you convert the Bitcoin into your fiat currency or in US dollar?

If you are using an exchange plaform which you can easily swap your coin to a stable coin the fee is usually insignificant but if you are receiving the money in your wallet which you need to use the likes of pancakeswap or Uniswap there is likely going to be higher fee compared to exchange plaform. As to Fiat Currencies peer to peer transactions doesn't come with charges especially if it is done on Binance or within an exchange platform.

 

[Josemendez]

Well , these are few if the advantage you can say about having bitcoin as a payment method but let's not forget that the advantages are also there.
Considering going to buy something in a shop where you have to pay with bitcoin ,and it happen that you have an urgent message to deliver somewhere. Do you know that you can end up spending up to one hour waiting for the transaction to be completed ?

 

[Chibson]

Making through bitcoin has so many advantages and of course, it has made online payment easier than ever. The factor that bitcoin is decentralized and when an online payment will be made there is no Central agency that can alter it is a plus. One problem I have with Bitcoin is that the charge is exorbitant.

 

[Ahmedo24]

Making through bitcoin has so many advantages and of course, it has made online payment easier than ever. The factor that bitcoin is decentralized and when an online payment will be made there is no Central agency that can alter it is a plus. One problem I have with Bitcoin is that the charge is exorbitant.

There are times when the fees for transactions are very little especially during the bearish movement when transactions volume on the network is not much as compared to bullish moment, another way to bouycot the transaction fee is to use same wallet such that you can send funds using the recipient's email address which comes with no transaction fee.