Since its creation in 2009, BTC has become a breakthrough alternative to traditional financial systems. Unlike classic funds that are controlled by states and financial institutions, BTC offers a decentralized, transparent model of money exchange. Let's talk about the key advantages of the leading cryptocurrency over traditional funds. Detailed information on the topic Live Dealers crypto can be found on the portal.
BTC operates on the blockchain - a specialized database that does not depend on any controlling organization. Unlike classic funds, the emission of which is regulated by state financial institutions, BTC is produced according to a pre-programmed algorithm with a limited supply. This eliminates the risk of inflation due to the large emission of funds.
Traditional bank transfers, especially international ones, can last several days and involve significant costs. Bitcoin transactions are faster (especially in the Lightning Network), and the costs for transfers are much lower than in traditional payment systems. Bitcoin is not tied to the legal zone of a particular state and is available to every user with Internet access. This is especially important for citizens of states with an unstable economy, where federal currencies are subject to restrictions.
Any bitcoin transactions are recorded in the public blockchain, which implies a high level of transparency. In addition, users remain anonymous, since they do not need to disclose personal information for transactions, as in classic systems. Due to the decentralized system and cryptography, BTC is resistant to censorship.
Fiat money transactions involve banks, payment systems and other organizations, which increases the time and cost of transactions. Bitcoin makes it possible to transfer value directly between users, reducing the involvement of other people. Unlike bank cards, which can be closed by decision of the authorities, BTC wallets are controlled only by their owners. When stored properly (for example, in special wallets), cryptocurrency is almost impossible to withdraw.