Pros And Cons Of Using Bitcoin

The utilization of bitcoins has gottremendous popularity among the users. Many people are willing to transform their earnings into a digital asset with the help of bitcoins. One cannot deny the fact that bitcoins are just numbers that are liable only to its owner. It is the only ingredient in peer to peer transaction, and it does not involve any external forces like banks or other financial mediums.

Pros

Bitcoins are easy to use as compared to others. While the later require the third party medium (like banks)that enables the two entities to have a secure transaction. Transaction of bitcoins requires only the sender and receiver who involve in bitcoin exchange. In this way, the transaction is made quite simple and easy.The conventional methods for the transaction havea  threat to safety.

While bitcoins use the concept of cryptologic, it is very difficult  to even for a potential hacker to unlock the key (if the key is strong).Investing in bitcoins increases the digital asset value as bitcoin value keeps increasing over time. Bitcoins can be used for trading as well. Thus,bitcoins are considered as money yielding materials by many people and organizations that involves money handling. Bitcoin Superstar is an app that facilitates to gain more bitcoins while trading.

Cons

Since bitcoins has recently found its popularity, people who are using the bitcoins either for trading or for any personal use have a little knowledge about the safety measures to be taken,

Hence it leads to serious loss of the bitcoin currency. And if the person is not aware of scam emails and phishing then the bitcoin asset is in the hands of hackers. There was an incident where one of the bitcoin exchange platforms was completely hacked by a set of people and it is found that there is a loss of about 140million BTC, which was a great loss indeed!. Recently people accused about Bitcoin Superstar as a scam app, which is trying to intrude into their customer account for looting bitcoin currency.