Since its appearance 16 years ago, BTC has become a revolutionary analogue of classic financial systems. Unlike fiat money, which is regulated by states and banks, BTC provides a decentralized, secure model for exchanging money. Let's talk about the main advantages of the leading cryptocurrency over classic funds. Detailed information on the topic Live Dealers crypto can be found on the website.
BTC operates on the basis of blockchain - a distributed database that does not depend on any regulatory body. Unlike traditional funds, the emission of which is regulated by central banks, Bitcoin is issued according to a pre-programmed plan with a limited amount. This eliminates the inflation risk due to the large money emission.
Classic bank transfers, especially international ones, can take up to a week and involve high fees. BTC transactions are carried out faster (especially in the Lightning protocol), and transfer fees are significantly lower than in traditional financial systems. BTC is not tied to the jurisdiction of a specific country and is available to anyone with access to the network. This is especially important for citizens of countries with unstable economies, where national currencies involve hyperinflation.
All bitcoin transactions are recorded in a public database, which implies a high degree of transparency. At the same time, the owners remain anonymous, because transactions do not require personal data, as in banking systems. Thanks to cryptography and a decentralized system, Bitcoin is protected from fraud.
Traditional monetary transactions require banks, financial systems, and other intermediaries, which increases the time and cost of transactions. Bitcoin allows value to be transferred directly between holders, reducing the involvement of third parties. Unlike bank cards, which are sometimes closed by order of authorities, Bitcoin wallets are controlled only by their owners. When used correctly (for example, in special wallets), cryptocurrency is almost impossible to withdraw.