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Topic: I already have a Bank attached with paypal account? Why should we use Bitcoin? - page 2. (Read 351 times)

legendary
Activity: 2814
Merit: 3036
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I am little confused.. . I have already a bank account/debit card with paypal account. So can anyone please, explain me the benefits of bicoin wallet  something else.. .. As I am newbie I am little confused.. .. !! !!

The main point of bitcoin is that you can be your own bank and no third party or bank account is needed. Maybe this is unnecessary for you, but for many others it's not. Some people don't or can't have a bank account and bitcoin is a solution to that. Many people are also treating bitcoin like a speculative asset as well where there's money to be made from trading or even holding it (know as hodling here), but that doesn't come without risk. If none of that interests you then bitcoin might not be for you, but I think everyone should try own a little bit of bitcoin whether it's to hold as a long-term investment or just to be a part of the revolution. What you do with it is entirely up to you though.
legendary
Activity: 3080
Merit: 1500
I am little confused.. . I have already a bank account/debit card with paypal account. So can anyone please, explain me the benefits of bicoin wallet  something else.. .. As I am newbie I am little confused.. .. !! !!

Hi Harpreet, I presume you are from India. If yes, then you must know that you are not allowed to keep funds in your paypal account. Every 24 hours paypal runs automated payment and whatever the amount you have received on the previous day, will be transferred to your linked bank account after deducting the suitable charges.

Also paypal is obliged to report all transactions to the tax authorities so your every move with paypal is being watched by the tax authorities of India.

That's not the case with bitcoin and Omegastarscream has already given a detailed explanation why! Easy peasy japAnese!
full member
Activity: 602
Merit: 116
There are many advantages that bitcoin is the only currency has them. Bitcoin is decentralized and out of control of third parties. You are the real owner of your money when you use bitcoin.
Also, you can treat bitcoin as investment. Many people are take the advantages of fluctuations. Some trade it in short term and some people just hold it for future.
staff
Activity: 3500
Merit: 6152
- You have full control over your funds, your wallet cannot be frozen/locked.
- Lower fees (much lower).
- Privacy. You don't need to provide your ID in order to use bitcoin.
- No chargebacks.
- Available everywhere. You might have PayPal available in your country, but not everyone does.
newbie
Activity: 49
Merit: 0
I am little confused.. . I have already a bank account/debit card with paypal account. So can anyone please, explain me the benefits of bicoin wallet  something else.. .. As I am newbie I am little confused.. .. !! !!
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