Pros and Cons of Using Bitcoin Due to the relatively novel nature of Bitcoin, its price can rise or fall unpredictably within a short period of time, and it can sometimes be more illiquid than other types of currencies. This means that keeping your savings in bitcoins is a risky decision, and not recommended. Bitcoin is considered a high risk asset and it is not advisable to keep money in bitcoins that you cannot afford to lose. On the other hand, risk-takers can achieve considerable returns in a short time due to the high volatility. A lack of awareness and understanding of Bitcoin means that it is relatively rarely used as a billing method by companies. With more and more companies and individuals using Bitcoin, its volatility and liquidity risk should calm down. Another thing to consider before purchasing bitcoins is the security of your digital wallet. Like your real wallet, your Bitcoin wallet must be secure too. Since Bitcoin makes it possible to transfer money quickly and easily anywhere in the world, security concerns are even greater. Remember, it is your responsibility to establish good safety practices. Overall, Bitcoin is considered a secure and transparent system due to its cryptographic security. As a bonus, Bitcoin users can enjoy significantly lower transaction fees than with credit cards or PayPal. http://www.confiduss.com/en/services/solutions/corporate/cryptocurrency-license/ |