Should you shop with bitcoin?

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PHOTO: UNSPLASH
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There’s no doubt that you’ve heard about cryptocurrency (or “crypto”) by now. And maybe you’re at a point where you’re considering making the move from conventional currencies to electronic ones, such as Bitcoin, the way millions around the globe already have. After all, especially in the case of Bitcon, its increased international approval makes it one of the most attractive payment options wherever you are in the world.

Nowadays, you can walk into some stores, shop, and pay with your Bitcoin wallet. You can also use Bitcoin to pay for services such as bus fares, hotel rooms, school fees, and air tickets.

Some of the world’s biggest organizations, including Tesla and Microsoft, now approve Bitcoin payments. As you can imagine, this has made the rest of the world significantly more open-minded towards accepting it as a legitimate payment option. Still not entirely convinced to make the switch yourself? Here are some expert-proven reasons why you should consider starting shopping with Bitcoin.

It’s considerably accessible

Here’s the thing about Bitcoin: due to its wholly electronic setup, all it requires is a stable internet connection. When you’re abroad, this means no more worrying about having to find a bank or ATM to access funds. And because certain more rural areas may not always have a bank or ATM, Bitcoin has made financial transactions much more accessible for people living in or traveling to these places.

Bitcoin’s overwhelming accessibility also enables shoppers to break various economic barriers. For example, you don’t need a specific currency to shop from a given outlet. And as crypto continues to expand, Bitcoin is set to become even more accessible in the future.

It’s highly efficient

While no system can achieve 100% efficiency, Bitcoin’s performance comes pretty darn close. For example, users can send or receive cryptocurrency much faster than conventional currency transactions. Bitcoin payments occur straight from your crypto wallet to the recipient, meaning that you don’t have to wait 2-5 business days for an intermediate party to confirm and approve the transaction. In fact, depending on the traffic volume in the Bitcoin’s network at a given time, a transaction can go through in a matter of seconds. This top-notch efficiency makes it easy to fund trading accounts on leading cryptocurrency exchanges like Immediate Edge.

It’s way cheaper

Everyone likes saving money (shocker!). Cryptocurrency transactions have eliminated the need for those hefty currency exchange rates, as well as the need for an intermediary processing charge like bank transfer fees. As a result, it’s no surprise that paying with Bitcoin is the most cost-effective method — so why would you use any other payment method?

It’s more secure

Apart from affordable rates, people also want security when it comes to their finances, especially when it comes to online security. Bitcoin runs on an incredibly encrypted network called the blockchain. The network’s unparalleled security features make Bitcoin payments one of the most secure transactions ever.

Note: Coconuts Media is not a financial services company and does not provide financial advice. This article is part of a paid partnership with Immediate Edge and is for educational purposes only.

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