Bitcoin is a decentralized digital currency (also known as cryptocurrency) that you can buy, sell, and use to make purchases online without an intermediary like a bank. Transactions are validated by distributed ledger technology (DLT) also known as blockchain.
There are several key benefits of using Bitcoin for online purchases and crypto gambling, compared to fiat currency transactions.
The nature of a decentralized blockchain network makes transactions almost fraudproof, and the technology is built to safeguard your data. No personal information is required, and you can send payments without revealing your identity.
On the Bitcoin network, average confirmation time for a BTC payment is about 10 minutes, no matter how big the transaction is, or where you are located.
Setting up a Bitcoin wallet is free, and the lowest transaction fees are no more than a few cents, with an option to speed up the transaction by paying a voluntary fee.
Because the Bitcoin network isn’t owned by anyone, no government, or bank can take control over your wallet, block your transactions, or seize your Bitcoins.