July 07th, 2024

why use bitcoin?

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Akshat Gupta
3 years ago Selected
It can be used for many special reasons, which are described below,

1: In many countries where there is no capital control. Capital control means that it is not decided how much money can be sent out of the country and how much can be imported. In some places people use it to send or order money in excess of country leverage. These people buy bitcoin and send it out of the country and convert it back into money. This is done in many gray areas.

2: People who do not have access to the bank are using it. The most important thing is that it does not require any card etc. to use it. With its help, the transactions are not even face to face, so there is no fear of any kind.

3: It is also used to hide personal wealth. Some more wealthy people who want to hide their money, they used to take refuge in Swiss bank earlier, but now it is difficult to deposit money there. After that they have the option of buying gold, diamond etc., with the help of which they can hide the money somewhere. But all these things can also come in the eyes of the administration. So now after this, when bitcoin comes, they can easily buy bitcoin with their money. It is a completely digital currency.
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