The growing digitial society led to the appearance of the new type of cryptocurrency – Bitcoin. Bitcoin is a consensus network that enables a new payment system and a completely digital money. Bitcoin is leading the digital currency movement but a lot of Internet users still don’t understand what bitcoin really is and why they should even be using it. It has rapidly gained popularity among some internet users, mainly due to the number of its advantages.

Yet, Bitcoin still needs recognition to be brought to the masses. To popularize Bitcoin it is necessary to host crypto-trading events in terms of the Internet space as well as out of it, so that people are made aware of its advantages over conventional money.

Why should you use Bitcoin?

Quick transaction is guaranteed. A new user can get set up to send and receive bitcoins in a few minutes. Transactions can be instantaneous if they are “zero-confirmation” transactions. If a merchant takes on the risk of accepting a transaction that hasn’t yet been confirmed by the block chain, it can be as quick as possible.

It is safe and secure. Because it is easy, you may send bitcoin to anyone in the world at any time. GHASH.io give you an opportunity to see these advantages. Bitcoin miners verify every transaction with the same safety system as in military and government applications. Moreover, it is fully decentralized, which means that it is an open source maintained by a community of developers. And, what is also important, it requires minimal fee.

Security and anonymity. Security and anonymity is perhaps the biggest appeal of bitcoin. Unlike credit cards that expose your credit card number, expiry date, security number and personal details (that can be used for identity fraud and theft), bitcoin is anonymous. The level of exposure of Bitcoin is very different from traditional online transactions.

Governments can’t centralise bitcoin. Because it is decentralized, you own it. No central authority has control over it. There is no company ora single entity on whose existence bitcoin relies.

 You own it. A bank, any financial institution or even PayPal has the power to freeze your account, without consulting you. With bitcoin, you own the private key and the corresponding public key that makes up a bitcoin address. No one can take that away from you.

Bitcoin integration into social networks would also be an advantage, since most people are logged into social platforms almost all the time. Holding advertising campaign for the new generation could help promote Bitcoin cryptocurrency.

Downsides of bitcoin so far.

Many of us may not even now about the existence of such a digital currency until we come across a website which suggests you buy something with bitcoins. Most people are still skeptical of bitcoin as an alternative means of payment. The bitcoin community is still growing. Most sites do not even accept bitcoin yet. Bitcoin is volatile. Prices keep bouncing everyday.

The total value of bitcoins in circulation and the number of businesses using Bitcoin are still very small.  Bitcoin software is still in beta with many incomplete features in active development. Bitcoin is still in the process of maturing and it looks promising.