In a Article previously in our website we discussed what Bitcoin really is. In this article we will discuss about what is the pros and cons of bitcoin that you should aware of so that you get informed about the everything before investing.
As new phenomenon bitcoin is a very new trend. In the early times the transaction medium was money and different products later when the Power of State grown National Currency came. Later it was compared to global currency USD that was compared to Gold . Bitcoin just arrived in the world in the month of January of 2009. But till then value of a bitcoin has Grown drastically but we can say that it is still early times if we see the history of our globe through ages.
Many people is very hesitant about the investment in bitcoin. The reason is they see investment in this currency as gambling because its value fluctuates at a massive rate. And in this investment investors do not have any control so they can not plan their investment.
Second disadvantage of bitcoin is it is not widely accepted. You cannot buy vegetables or any necessary food or daily needs with bitcoin. And it does not have any physical value.
Third con about bitcoin is if the hard drive crashes or data of it is corrupted by Virus then the amount in any account can vanish how large may be the amount it.
Transaction time of bitcoin is large with respect for any small transaction that’s why it is not used in our daily market. But it is the reason why it is of advantage to use bitcoin in a foreign transaction because the time is not big as what the foreign transaction takes in normal currency and there is no transaction fees.