No Currency Conversion
The first and most important benefit is that while making the transfer of money there would be no currency conversion, unlike other currencies.
Low risk
Through Bitcoin payment senders and receivers are absolutely safe, there is intermediate agency to know the details of payment. This is the big benefit for those who do not want to disclose details of their valet.
Anonymity of the User
The transactions made through Bitcoins are totally decentralized, there is no plate form in between two parties to require the names of sender and receiver. There is only an computer id needed to make transactions. So the Bitcoin address generated by the system is unknown to any centralized authority.
Low Transaction Fees
The transaction fee as compare to the payments through banking channels is very low. It is also very low for foreign purchases. There is no intermediaries in carrying out a Bitcoin transaction, hence the fee is very low.
Transactions cannot be revoked
If we make payments banking channels, we can make the payment reverse. This is very painful for a seller. But through Bitcoin there is no chance to revoke the transaction. So seller feel it better as compare to banking channel. This payment method is absolutely irreversible and cannot be rolled back.
Tax free transactions.
There is no third party involved while transaction take place in Bitcoins. It will be unknown to anyone, that who is making the payments. So the people making payments through bitcoins not need to worry about any question arise by tax authority.
Ease of Doing Transactions
If you make transactions through a banking channel, you have to go bank and fill a form to be used for this purpose. It takes some time. You spare this time from your already scheduled business activity. This is the waste of your precious business time. It also needed ID card or passport details to make the transactions.
Internationally accepted
The number of investors is increasing day by day. Due to Bitcoin technology (Blockchain) buying and selling are becoming easier. As compared to the past, bitcoins are accepting every ware in the world.
Transactions through mobile
Transactions through a mobile phone are also a plus point of Bitcoins. The user has to install Wallet application on his phone. By using his mobile user can make transactions any time and from every ware.
