Bitcoin for Individuals
A simple way to quickly transfer money directly between people and businesses electronically
Bitcoin is a quick and easy way to send money directly between people and businesses electronically. Payments on the Bitcoin network are very different than traditional electronic payments.
Make mobile payments with ease
Use your mobile to make Bitcoin payments for goods and services while you’re outside or on the go, with a basic two-step scan-and-pay. All you need is to display the QR code which leads to your own Bitcoin address and allow a cashier or friend to scan it.
It is also possible to make mobile transactions through NFC technology by simply touching phones together. You can create a QR code from any Bitcoin address, but specialized Bitcoin mobile wallets make for the transferring of money even easier.
One of the most popular and secure Mobile wallets is the Mycelium Wallet which runs on both iOS and Android devices. Breadwallet is another popular option as it can hold Ethereum coins as well as Bitcoins.
Security and freedom over your money
Transactions made with Bitcoin are secured by mathematically accurate blockchain technology and military level cryptography.
It is impossible for another person or organization to make transactions under the guise that they are you. Bitcoin turns fraud into a thing of the past.
One of the main reasons why Bitcoin can give you such freedom is because it is stored on your own wallet, and not in a bank. This means that you always have ownership of your money and that it is never in the hands of somebody else.
To keep your Bitcoins safe and secure, it is important to encrypt your wallets by adding a password to them. Wallets like Electrum also allow for two-factor-verification.
Bitcoin works at any time in any place
Just like with email, you don’t need to ask your family to use the same software or the same service providers. Just let them stick to their own favorites. No problem there; they are all compatible as they use the same open technology.
The Bitcoin network never sleeps, no even on holidays!
International payments made fast
As Bitcoin transactions are not handled by the banks, the technology allows for payments to be made with people across the world in painlessly fast succession. There are no additional fees or waiting times for international payments.
Set your own fees for your transactions
With Bitcoin, you can choose your own fees for your transactions. You can choose to pay very little if it is a low-priority transaction, or pay higher fees to give your transactions faster confirmation times.
Bitcoin fees are not relative to the amount of money you are sending, so the fee you pay for sending 0.5 BTC is the same amount as for sending 100 BTC. It should also be noted that there is absolutely no fee to receive Bitcoins.
Protection of identity
As Bitcoin is not attached to your name, address, or identity in any way, it is possible to make transactions with anonymity. This makes identity theft significantly less of a possibility.
It is in stark contrast to how credit cards, cheques, and wire transfers work.