Bitcoin is taking the cryptocurrency world by storm. Today, many people are showing interest in trading bitcoins and earning a whopping amount of money in a short time. There are only a few bitcoins that are available for trading. You can buy them at a low price and sell at whopping money when there is a huge demand. The best thing about bitcoin is that it is taking the place of credit and debit cards slowly. Many people who are travelling abroad are using bitcoins to make payments in the stores. The stores are also accepting bitcoin payments. You can also order things online by making the payment through bitcoins. The sought after part is that the bitcoins do not need any currency exchange. There is no headache that you have to face due to the currency exchange with the bitcoins. The virtual currency does not need any centralized authority to monitor the activities. So, there is no involvement of third parties such as financial institutions and ledgers.
The whole transaction can be carried out physically without the need for cash. The digital exchange that was started way back in 2009 is creating waves in the digital world today. It is the third type of currency used by people. It is the best alternative to that of the fiat currencies and commodities. There are many countries that are legalizing this currency.
Many people are showing interest in using digital currency due to the benefits it offers to people from bitcoin trading in India. Few of them are listed below:
No risk for the buyers
It becomes easier for the buyers to complete the payments using the bitcoins without having to disclose information such as personal information and financial data. It is the best thing that is available for buyers who feel that their data is not so securely online. The bitcoin holders can stay anonymous and carry out the transactions. No one would know who is transferring the bitcoins to whom, unlike the debit and credit card payments. The hackers would have a tough time to hack the personal details, and they would touch this data due to the complexity. When you use bitcoins, the processing of the transactions will happen on the decentralized platform, and therefore it is tough to find the identity of the person. There are many popular money sharing platforms which are allowing customers to transfer money using bitcoins.
User can stay anonymous
The user can buy anything online without having to reveal their personal information by using the bitcoins. It is similar to the cash kind of purchase you make. So, no one would be able to track the person who has paid through cash and bitcoins. There is a bitcoin address that is generated for every transaction, and this would be kept anonymous and would keep on changing for every transaction.
Low transaction fee
The transaction fee that is charged for the bitcoin transactions would be low, unlike the credit and debit card transactions that are carried out. There are only two people involved in the transaction, one is the sender, and the other is the receiver. There is no third party who would regularize or supervise the transaction for which you have to pay a whopping fee. There would be no exchange expenses that you have to bear. With no third party in the transaction, you can save a lot of money. It is highly beneficial for travellers who travel frequently. It becomes easier for you to carry out the digital transactions at a brisk pace. There are no waiting period or authorization requirements. You can order any item from other countries and pay through bitcoin with ease.
No taxes on the purchases made
There is no way to track bitcoin transactions. Nobody would know who is making the payment and what they are buying as the buyer details would be anonymous. People who are paying through bitcoins for the products and services do not have to worry about the taxes.
Bitcoin trading is increasing in India. Many are showing interest as they can earn a hefty amount of money. CEX.IO Broker is the best and reliable trading platform available for the traders. The trading tools that you can find in this company are simple and offer a high level of security. It is the trusted and secured bitcoin exchange available in India. You can now buy and sell the bitcoin on the move. The multi-functional platform would make it easier, even for the person who is new to the world of trading.
There is an advanced matching algorithm, quality order book and different trading tools that are available. The advanced trading possibilities would empower trading and would let you improve the portfolio. There is a mobile app that is available for the people to buy, sell and manage the funds as you go. There is around the clock support offered to the users through email, phone and live chat. The executives would be available to answer the questions at any point in time.