Which among the following are the advantages of using bitcoin?
Negligible transaction fee
Your account cannot be frozen
Can be used to transfer money anywhere in the world
All the Options
Answers
The first three options are the advantages of using Bitcoin therefore option D which all the options is the correct choice.
Justifying the first option. As Bitcoin transactions are standard wire transfers so there is no involvement of the government institution or any intermediatary therefore the transaction cost is pretty much low.
Now justifying the second point as because Bitcoin is a decentralized platform so there is no possibility for freezing the account or trying to stop the transaction.
Bitcoin has the privilege for sending money across International borders as well.
Thus all points are justified.
Bitcoin is a cryptocurrency and one of the types of electronic currency which is not administered by central bank or any other Organization.
In simple words, it is an electronic wallet in which a computer file stored in the form of money.
As the people transact money to each other, the transactions are recorded in a list called the blockchain. There are so many people who are using bitcoin, as it has negligible transaction fee; the account cannot be froze if the account holder is not using the account actively; and if not able to have minimum balance.
The money can be transferred anywhere and anyone with the simple online method.