Main Benefits of Bitcoin!

The major benefits of the bitcoin system include:

• No taxes applicable – No third party is required to interrupt a transaction with bitcoins, so there is no taxation system needed.
• Not possible to seize by outsiders – These coins can’t be seized, so the government is not able to seize a bitcoin account. The user can rely on these coins without any problems, as they will never get frozen. One will have full freedom to use this money in any way they want.
• No tracking – Unless the user wants, no one can track the transaction. If the user publicizes the address of their wallet, only then can the transaction be traceable. Only the user will get all details about the availability of coins in his/her wallet. It’s very easy to generate another wallet address, so this increases the privacy from the outside world.
• No reversal – There are no risks associated with chargebacks. Once these coins are sent to a particular address, it is unfeasible to revert. The new owner alone will have the key to access these coins.
• Can’t be stolen – The ownership address can only be changed by the owner. So, to access bitcoins of a particular user, one would require physical access to the computer of the owner and then send the coins to another account.
• No extra cost for the transaction – This system performs transactions by running a client and keeping the sender and receiver connected. By doing this, it takes on the load of authorizing every single transaction in a network. This results in a reduction in the cost and makes the transaction more economical.