3 Advantages Of Using Bitcoin Instead Of Banks

In this day and age, many people prefer plastic when it comes to making purchases. The fact that there is no need to carry cash around or head to the bank makes it convenient and speedy. While this is true, Bitcoin is emerging as a viable payment option as well. If you have never considered this, here are 3 reasons to give it a try.

Eliminating Sales Tax

There are some states that require buyers to be taxed for everything they purchase. While this is not a huge deal when you are paying for something small, it can be a sizable amount when things are more costly. Since there is no way that your Bitcoin transactions can be tracked, you can avoid paying extra and keep more money in your pocket.

Low Transaction Fees

When you are using plastic to make international purchases, there is a chance that you will be charged fees. Even if your purchases do not typically come with fees attached, doing things globally can be quite different. If you are buying something from someone in another country, using Bitcoin means that you can escape paying a ton of fees. While there are some charges attached to Bitcoin transactions, they are typically far less than they would be if you used a card.

Protecting Personal Information

Some people dislike the idea of making purchases with credit and debit cards because it requires the seller to know your information. For instance, if you head to a store like Best Buy and make a purchase, they will have access to all of your personal information on their servers. For those who are very protective of this kind if information, it is a nightmare.

Bitcoin is totally anonymous. The only thing that anyone will know about you is the wallet ID that is associated with your account. This means that you can buy anything you like without worrying about the company or person you are doing business with accessing your information.

Once upon a time, people looked at credit and debit cards as a bad thing; mainly because they were not familiar with them and they could not see the benefits. This is the same way that people today look at Bitcoin. Now that you have more information available to you about the advantages of this payment option when making purchases, you should certainly think of this as a viable option.