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Why You Should Use Bitcoin For Payments

Onyeka Ekwemozor

Content Marketer in the Blockchain space Jan 9, 2023

Why You Should Use Bitcoin For Payments

Bitcoin is changing the way we transact across the world and here's why: It is money without borders. If you own a business, here are five reasons why you should use Bitcoin for payments:

1. Transparency.

Bitcoin transactions are recorded on the Blockchain. The Blockchain is public and open to everyone. That means anyone and everyone can confirm any transaction carried out by a particular crypto wallet address.

2. KYC Compliant.

To use Bitcoin payment solutions for any site or platform, users must complete KYC (a Know Your Customer procedure). With this in place, it's easy to trace wallet addresses to an individual.

3. Pseudonymous.

The Blockchain makes it challenging to be invincible. Why? Because it works in a network. Each transaction must be confirmed on multiple computer networks to be registered.

Once done, the transaction cannot be erased because you have to wipe the trade-off the other computer networks. This makes it difficult for transactions to be faked and duplicated.

Unlike the traditional financial system, where transactions are recorded for you alone, Bitcoin transactions are recorded on multiple networks.

4. Convenience.

Users only need a minimum of their mobile phones and an internet connection to make a Bitcoin payment. This makes it easy to use and convenient for people.

5. Global Reach.

Because Bitcoin is a currency without borders, users can use it to pay for goods and services from anywhere in the world.

Organizations can choose different payment platforms, but it's a huge bonus to integrate Bitcoin payments too.

To read the full article, click here.

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Onyeka Ekwemozor

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