Bitcoin For Everyday Use


Bitcoin for everyday use can be fast, safe and secure. Bitcoin is easy to set up where as Banks are often cumbersome and slow to deal with when opening a bank account. They require a passport, national insurance number, amongst other documents. Opening a business account is an even more difficult prospect that is beset by bureaucracy and red tape. Setting up a Bitcoin address can take seconds and having a wallet set up takes very little time with no questions asked and no fees to pay.

Bitcoin is pseudonymous meaning that unless you disclose your Bitcoin address, no one will be aware of your wallet and address ownership. There are no names and addresses stored with the Bitcoin protocol or any other identifying information meaning no personal information can stored and spied on or leaked and hacked by third parties.

Your bank will charge you large sums for various transaction fees but Bitcoin does not. As of writing Bitcoin charges 0.0001BTC (3p) for a normal transaction. You can send as much Bitcoin as you want to anywhere in the world for as little as 3p. Millions of pounds worth of Bitcoin can be transferred to anyone in the world for pennies.

As Bitcoin is a fully automated technology, it operates 24/7 for the whole year. Unlike banks who close for bank holidays and only operate at certain hours of the day. It is also fast to transfer Bitcoin and appears on the network instantly or up to 10 minutes for a confirmation to occur on the network.

Bitcoin relies on cryptography to keep it safe and secure. This cryptography will make your Bitcoin impervious to theft or confiscation. The only threat to your Bitcoin is the storage method you chose to hold your Bitcoins. As of writing, the Trezor Hardware Wallet is one of the most convenient and secure ways to store your Bitcoin.