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1. Bitcoin enables low transaction fees
Compared to conventional payment methods or money transfers, the Bitcoin network has very low transaction fees.
If you're sending money to an account in another bank or abroad, fees can be quite high.
Thanks to the Peer-to-Peer (P2P) architecture, with the Bitcoin network, you can send a certain amount without a bank, payment service, or any other third party, without having to worry about the amount of the fee.
Also, the transaction will be executed in a few minutes, no matter where and when you send a certain amount.
2. Bitcoin is available to everyone
Anyone can use Bitcoin, anytime and anywhere.
All you need to use the Bitcoin network is the internet and a computer with which you can create your own digital wallet.
The process of creating a digital wallet is simpler compared to opening a bank account.
You do not need an ID card or other personal information that banks or other institutions would use to investigate financial history to create a digital wallet.
One of the founding ideas of Bitcoin was to enable people easy access to the network and its benefits without having to go through various checks.
Bitcoin allows people to transfer value digitally in a simple way without the need for oversight from third parties.
3. Bitcoin is a secure network
The Bitcoin network is protected by the SHA-256 function. The name of the function itself may not tell you much, but it's enough to say that it guarantees a level of security that banks, the military, and virtual private networks have.
Bitcoin employs principles of cryptography to ensure the security of the entire system.
Each transaction is assigned specific cryptographic data that serves as an impenetrable identifier.
The Bitcoin network is considered secure also thanks to the consensus mechanism.
To confirm transactions and ensure smooth operation of the Bitcoin network, it's essential to have the agreement of all network users.
For example, if a person wanted to carry out false transactions within the Bitcoin network, they would need control over 51% of the network, which is impossible to achieve.
Likewise, transactions within the Bitcoin network cannot be reversed or altered. Once you perform a transaction, it is recorded in the blockchain and remains unchanged.
4. Bitcoin offers transparency to users
All information about Bitcoin, whether it's about the total number of coins that can ever exist, new coins entering circulation, and many other details, is available for every user to view at any time.
Also, every user can see every bitcoin cryptocurrency transaction that has been executed on the network.
Certainly, the personal information of users who have carried out transactions is protected.
Users with a digital wallet are assigned a unique identification number. Through this link, you can access real-time visibility into all transactions occurring on the Bitcoin network.
Such a level of transparency further secures Bitcoin network users. Every user can easily prove that they have received or sent a certain amount of BTC.
5. Independence from banks and other central authorities
The Bitcoin network is a decentralized system. There is no body or person that independently sets rules affecting the operation of the network and its users.
No one can impose themselves as an authority with the power to confiscate BTC cryptocurrency or halt transactions.
Theoretically, this approach grants every user autonomy in managing their own money (in this case, BTC cryptocurrency).
As previously mentioned, the Bitcoin network employs a unique Proof-of-Work consensus mechanism that confirms transactions and ensures the network's smooth operation.