The Features of Bitcoin Details

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Today, the technology is improved and more modern including in digital currency. One of the most modern technologies related to digital currency is Bitcoin. It is a virtual currency such as dollar but only available in digital world. It may sound like eGold. Nowadays, it is used to transfer money digitally. The easiness makes people consider using this technology. Even though there are many pros and contras about it, it will be better for you to pay attention to the following features offered.

Peer To Peer Instant Transfer

As it is mentioned before, Bitcoin is used to transfer money. Bitcoin transfer requires you to use peer to peer method or also well known as P2P. It is a network system that is connected from on to another through internet. So, you can share the files on your computer without a center server. Of course, it is very simple and eases the transfer process. However, you have to make sure that you have internet connection. You also need software such as Acquisition, Morpheus, etc.

Transfer System to Anywhere

One of the reasons why people consider using this digital currency is that you anyone is allowed to transfer money to anywhere. It does not matter where you live and where you transfer. With this feature, you can transfer cash freely. In addition, the administration fee is also low even you transfer to another country. That is why you should also consider using Bitcoin.

Irreversible Transfer

You have also to know that it applies irreversible transfer. It may be one of the weak Bitcoin features. Irreversible transfer means that you are not allowed to change your transfer related to nominal or the recipient. Besides that, you cannot also cancel your transaction. So, you have to be careful in transferring money using Bitcoin. You have to make sure that the nominal and recipient are right. Therefore, your transaction will be safe.

Uncontrolled Under Government or Institution

Lastly, you should also know that it is not controlled by any government or any institution. However, it does not mean that the transaction is not safe. You can transfer money safely even though it is not controlled by government or institution. In addition, the transaction is anonym. Then, the amount of transaction is also limited. After you know the features above, now you can use Bitcoin for transaction safely. Hopefully this will be a good reference in using this digital currency network.

Description: Bitcoin is a digital currency that allows you for money transaction. Some features to know are P2P network, transfer system to anywhere, irreversible transfer, and uncontrolled under government or institution.