Bitcoin Difference with traditional currencies

By Lềm Thị Phiến | An an | 8 Jun 2020


1.Phi concentrate

Every currency in the world is dominated by the form of power. Every transaction must be through a bank, where fees are sometimes unreasonable and transaction times are long between the two parties.

Bitcoin, on the other hand, is not controlled by any party, it is a decentralized network and designed based on the cooperation and consensus of the participants. Therefore, even when a part of the network is turned off, the transaction is still recorded.

2. Cannot be fake

Bitcoin is designed against counterfeiting. The legitimacy of a Bitcoin will be guaranteed by blockchain technology, as well as various protection mechanisms established in the protocol.

Most traditional currencies can be counterfeited. Yet the controlling individuals do little to completely stop this problem.

3. Sustainability

Bitcoin does not exist in a specific physical form, meaning it cannot be destroyed. Each Bitcoin is essentially permanent, unlike banknotes or coins.

"Sa sa, dead chicken"

If someone made a mistake and sent money to the wrong wallet, they could only pray. Like many other features of Bitcoin, irreversibility is born to fight fraud. But unfortunately, if it's the legal currency, all you need to do is pick up the phone to complain.

4. Calculate conversion

While some legal currencies such as dollars and euros are widely accepted around the globe, most currencies of other countries can only be used within their geography. In contrast, BTC is an online currency, which means that the operating environment will be global.

How do you rate this article?


3

1

Lềm Thị Phiến
Lềm Thị Phiến

https://www.publish0x.com/Lemthiphien


An an
An an

Xin chào Tôi tên là An

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.