We have all felt the pain of an overdraft charge because we forgot about the restaurant bill we paid for with the debit card that stayed pending for a week. Having to keep track of what has cleared the bank can be a real pain sometimes. Wiring or transferring money to friends or family can get quite expensive also. Sending money overseas can be a hassle and can take up to a week for the money to arrive. With just a few clicks, you can send bitcoin to anyone anywhere in the world in minutes. The payment is instant and cheap to do.
Bitcoin transactions are fast, cheap and there can never be an overdraft charge because you are the bank. Transactions cannot happen unless the funds are available. Transactions take 5-10 minutes on average and the sales are final. Because this happens so fast, transaction fees are little to nothing. Usually pennies. Bitcoin is global. No matter what country you are from or what currency you use, a bitcoin is a bitcoin. Changing your bitcoin to dollars is easily done. Coinbase is an American based exchange where you can convert your bitcoin to dollars then instantly transfer the money to your PayPal account with no wait time.
Bitcoin is known and doesn’t lack popularity. The CEO of the Intercontinental Exchange (ICE) and the Chairman of the New York Stock Exchange (NYSE) Jeff Sprecher stated “somehow Bitcoin has lived in a swamp and survived.” This statement speaks loudly about the resilience of Bitcoin and the community that drives it.