Bitcoin has the mathematical features of money, such as durability, portability, fungibility, scarcity, divisibility, and legibility. However, it does not count on physical features (such gold and silver) or trust from central power institutions (eg fiat currency).
In short, Bitcoin is backed by mathematics. All it takes for a form of currency to have value is trust and use. With these characteristics, for Bitcoin, this is reflected in its growing base of users, merchants and startups. Like all currencies, Bitcoin's value comes directly from, and is the only source of, people willing to accept it as a form of payment.
There are no banks or governments involved in the process, so Bitcoin is an excellent way to fund transactions, and here are some of the reasons why:
1) Person-to-person transactions without intermediaries
Generally speaking, transferring money to someone who is not near you requires a bank or other financial service to complete the transfer. Using Bitcoin to send funds is the equivalent of taking cash from one's own wallet to someone.
2) Almost 0 Fee on transactions
Bitcoin is decentralized, which means the fees paid to send and receive bitcoin funds are basically close to zero, or very low. This is an important advantage of Bitcoin, especially for micro-transactions. Bank transfers and credit card payments incur large fees, making it difficult to take small orders. Bitcoin has a clever and advantageous structure that makes settlement fees close to 0!
3) Without any third-party supervision or setting restrictions
Bitcoin does not require banks or third parties to settle, so the process is faster and funds can flow freely. Bitcoin is global, and there are no currency differences between countries using Bitcoin. There are already many shops and websites around the world that accept Bitcoin.
In addition, the total amount of Bitcoin is also limited. The number of bitcoins is set at 21 million to avoid inflation problems. There are only 21 million in the world, and its output is designed and controlled by code. A Bitcoin can be subdivided to 8 decimal places at most, and every 4 years , its mining output will be halved and the produce will stop when the total supply reaches 21 million in 2140.
Therefore, Bitcoin has a certain scarcity. It will not depreciate due to indiscriminate supply of money. The process of obtaining Bitcoin is very similar to mining gold, so it is known as "digital gold".
How to buy bitcoin?
Looking for a way to buy Bitcoin? You can purchase BTC on CoinTR following the steps:
1. Log in your CoinTR account and click [Markets]. Click on [Spot].
2. Search “BTC” using the search bar to see the available trading pairs. Take BTC/USDT as an example, click [Trade].
3.Go to the [Spot] box. Enter the amount of BTC you want to buy. You can choose from opening a Limit order or a Market order. Take Market order as an example. Click [Buy BTC] to confirm your order. You will find the purchased BTC in your Spot Wallet.
Disclaimer: The views, thoughts, and opinions expressed in the article shall not be considered as investment advice and do not reflect the position of CoinTR, please use it at your own risk.