Safer than Banks
The Bitcoin algorithm is closest to the bulletproof one that a computer program can get. Some of the best hackers and online security experts criticized him, and so far, no one can find any weaknesses. The Bitcoin code has been described as masterfully written, the digital equivalent of Shakespeare.
Meanwhile, banking operations are under a lower level of security than Bitcoin. In many ways, Bitcoin was supposed to be safer than banks. After all, banks have existed for centuries, and people understand how it works.
Service charges lower than banks
Banking institutions charge high transaction fees. The system is configured in such a way that separate transactions between two people are impossible; they need a “reliable” third party to facilitate the transaction.
You can use custodial services with bitcoin price, which charge a service fee, but you do not need it. Since Bitcoin is based on P2P transactions, there is no service charge. Naturally, banks are not a big fan of bitcoins because of this.
Low inflation risk
The number of bitcoins created is set at a predetermined speed. This means that no government can print more money to pay off its debts.While real currencies lose a small percentage of their value each year, the price of bitcoin seems to be steadily increasing.
Low risk of collapse
When your currency is associated with a government, it depends on the stability of that government. Check the accounts in your wallet. You worked hard for them. Can you imagine that one day they cost less than the paper on which they were printed?Since Bitcoin is not affiliated with any government or central authority, it does not depend on any external circumstances for its value.