Advantages of paying with Bitcoin - page 5.

xander ford

newbie

Activity: 21

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Quote from: smartbitcoininvestor on September 09, 2017, 09:10:10 PM

So today I purchased web hosting from Namecheap using Bitcoin and it was incredibly cheap, simple and best of all, anonymous. When it comes to website ownership, depending on the kinds of sites you are building, this can be an important thing.

One of the reasons why Bitcoin took off initially was because of its privacy and anonymity benefits. Back then there were so few places where you could actually spend Bitcoin, so people ended up purchasing illegal things to test out the platform.

Now, we can see and trust definite advantages that Bitcoin as a technology brings - secure store of value, anonymity, global/universal currency, transparency (blockchain), software apps can be built on top, etc

but I really just wanted to get your opinion...

What are some advantages of paying with Bitcoin?

For me the advantages of paying with bitcoin is less hassle, easy payment, fast transaction and anytime anywhere you can pay.

datodota002

full member

Activity: 224

Merit: 101

the advantages of paying bitcoin can feel by people who used bitcoin, when you paying with bitcoin for food example, people that make the food have to buy food supply for his restaurant to fiat money, the advantages is when he turn his bitcoin to cash when the price is high. so he get more pay from the bitcoin price

Skieleton

sr. member

Activity: 686

Merit: 282

As they already mentioned the lack of taxes for shopping. Of course, security.

TrueCryptonaire

legendary

Activity: 1092

Merit: 1000

The advantage of paying with bitcoin is to only that person who have bitcoins and have no other way of converting those into cash, rest i don't feel that there is any advantage of paying with bitcoin. There are many disadvantages of paying with bitcoin which are more advantages. Like you need to wait for quiet some time for getting the transaction confirmed and also that the rate fluctuations and the transaction fees that you have to bear. Till the lightening network is implemented I don't think that there would be any benefit of paying with bitcoins.

BanaanBakje

newbie

Activity: 2

Merit: 0

there are a lot of advantages of paying with bitcoin

-fast
-secure
-decentralized
-cheap
-open 24/7

bitcoin is still in its beginning phase, but it will grow up to beat any other centralized payment system

soham

sr. member

Activity: 406

Merit: 250

Quote from: smartbitcoininvestor on September 09, 2017, 09:10:10 PM

So today I purchased web hosting from Namecheap using Bitcoin and it was incredibly cheap, simple and best of all, anonymous. When it comes to website ownership, depending on the kinds of sites you are building, this can be an important thing.

One of the reasons why Bitcoin took off initially was because of its privacy and anonymity benefits. Back then there were so few places where you could actually spend Bitcoin, so people ended up purchasing illegal things to test out the platform.

Now, we can see and trust definite advantages that Bitcoin as a technology brings - secure store of value, anonymity, global/universal currency, transparency (blockchain), software apps can be built on top, etc

but I really just wanted to get your opinion...

What are some advantages of paying with Bitcoin?

Frankly speaking, I don't see any advantage in paying in bitcoin for any goods or service you purchase. Even if it is acceptable in online business but not at all fit for offline business due to the high confirmation time. Imagine waiting for 30 minutes before you can get your hands on a cup of coffee. People with insane patience would be able to handle that but not everyone.

Instead I see bitcoin as a great investment asset which can very well change the course of your future life. So I have taken bitcoin as an investment and I hardly spend my bitcoin for any goods or service. I pay for my daily expenses using the local currency and hold the bitcoins thinking about the future.

Sesiaw

newbie

Activity: 113

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if I think the benefit of paying with bitcoin is very fortunate because we do not need to mecairkan money, because there is a very useful digital money like bitcoin

Lamisa asfiya

member

Activity: 242

Merit: 10

paying with bitcoin is the latest technology. it is easy system for payment. besides, this payment system is very fast and there are privacy too.it is an extra income source.

maman09

sr. member

Activity: 560

Merit: 250

right, I feel the same with you. the benefits of bitcoin in terms of spending, many things that have facilitated us through the method of spending bitcoin.
it's just that the current problem, not many online stores that accept payment by bitcoin method.

mukeymon

member

Activity: 81

Merit: 10

Quote from: awilliams on September 09, 2017, 09:46:55 PM

Privacy, fast payments, and no refunds (like Paypal). Love paying with bitcoin, just can't wait until it gets easier and more universal.

But bitcoin is not more popular than paypal. Many people still want to use paypal than bitcoin

redhondaxrm125

full member

Activity: 266

Merit: 100

Quote from: smartbitcoininvestor on September 09, 2017, 09:10:10 PM

So today I purchased web hosting from Namecheap using Bitcoin and it was incredibly cheap, simple and best of all, anonymous. When it comes to website ownership, depending on the kinds of sites you are building, this can be an important thing.

One of the reasons why Bitcoin took off initially was because of its privacy and anonymity benefits. Back then there were so few places where you could actually spend Bitcoin, so people ended up purchasing illegal things to test out the platform.

Now, we can see and trust definite advantages that Bitcoin as a technology brings - secure store of value, anonymity, global/universal currency, transparency (blockchain), software apps can be built on top, etc

but I really just wanted to get your opinion...

What are some advantages of paying with Bitcoin?

In terms of payments regarding the instances that you have mentioned, bitcoin really is advantageous. And I won’t argue with that. But in terms of using it on a daily basis with simple things, i really don’t see that much that could make me wanna use bitcoins more than how i use them now. Maybe someday when transaction fees are cheaper amd confirmations are faster.

valentin68

full member

Activity: 459

Merit: 104

The advantage is that you can pay fast, and send the money to whomever you want. The disadvantage is that the bitcoin network is anonymous, once you send the money to a certain person you do not know if that person will be sending what you bought for your bitcoin, and you cannot have your money returned. This is the bad part of bitcoin. And of course the taxes that you pay when you send the money, they can go as high as 1-5 USD.

bitbunnny

legendary

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For me the bigest advantage of paying with Bitcoins is that I actualy can save buying with Bitcoins. The higher the price, more I save. And since I have Bitcoin debit card paying is very fast and easy and I don't even have to think if Bitcoin is accepted or not. And because of anonimity no one realy knows on what I'm spending like banks are watching the credit cards.

Melquart

full member

Activity: 168

Merit: 100

For me the advantages of paying with bitcoin are low fees for large transaction, not disclosing my identity to stranger, safety of transactions and many other features.

sumangs

full member

Activity: 644

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This gives you faster transaction but it takes some percentage of your bitcoin as transaction fee. The transaction fee is small but it has also secured and keeps your privacy while sending via bitcoin.

akamit

hero member

Activity: 1484

Merit: 595

Firstly, the main advantage of paying with bitcoin is anonymity.
Secondly, it had very cheap transaction fees before if compared with other options. But now it is not cheap.
So now only thing I believe is available is the anonymous thing we have if we use bitcoin as payment option.

But there is also a disadvantage for the transaction delay due to the confirmation.

Currently the most precious thing is to invest in bitcoin.

Gabrieelle

sr. member

Activity: 364

Merit: 267

Paying with bitcoin is easy and super fast. I always use bitcoin to buy some load because it is much faster than going to a store and it doesn't have transaction fee. The wallet that I'm currently using I can also pay my bills by just using it. I can pay with my bitcoins or with my local currency there is always a choice that is why it is really much easier using bitcoin when transacting online.

ethereumhunter

hero member

Activity: 2856

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i think there is no need to pay big amount if we are using bitcoin as payment because i have experience before. i need to pay something and if i use money then i should spend $10 and if i only use bitcoin, the amount is equal 0.002 btc because bitcoin price is in high position so i don't have to spend big amount. the other advantages is maybe we don't have to filled the form and write down our name and address and then we pay the amount and with btc we only send the amount.

kingragnar

full member

Activity: 294

Merit: 100

the advantage of bitcoin for me is that when it transfers to different people. Because it does not need a long process of transfer it. It's not like banks. And you can transfer or trade even if they are in the middle of the world. and low transaction fee and you can make sure your acount is safe. So I'm happy that I know bitcoin and what it does in human life.

Harlot

hero member

Activity: 1806

Merit: 671

Quote from: fanbeila on October 07, 2017, 10:13:37 AM

1.When payment is made with bitcoin,we need not have to disclose any of our personal identities.So unless,we voluntarily reveal our bitcoin transaction related to our purchase,no body could trace our transaction including the government authorities.so,there would be no sales tax on our purchases.

2.Very low transaction fee when compared to other payment methods.

3.Transactions for purchase could be made online and we don't have any need to go to any of the stores individually.

4.No intermediaries,governments could interrupt our bitcoin transactions and no body could freeze our bitcoin accounts when payment made in bitcoins.

Just a thought when you are purchasing something not unless it is illegal you really need to disclose your shipping address for you to receive the purchased item, which there is no sense of hiding your identity as it will be revealed. Also from what I know credit card payments and Paypal payment now have no fees for the buyer. Which in turn is more practical compared to paying the item with Bitcoin.

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