It is available in a form of electronic cash which was created in 2009.it was emerged as a decentralized virtual currency without a single controller and bitcoins can be sent from one person to another person without intermediaries.
An Overview of Transactions difference between Bitcoins and Credit cards
Both have their own advantages but people usually use a credit card to pay for the things they buy so you should know how to get bitcoins:
- Bitcoins are a type of virtual currency and can be exchanged from person to person with any financial administrator
- Credit cards companies mostly provided fraud protection but bitcoins have not this type of facilities
- Bitcoins transactions are irreversible in nature which can be refunded by a party who receives it but credit card does not contain these types of facilities.
- Credit card s can be stored physically but bitcoins are sent from person to person in a form of digital cash.
- The major advantages of the bitcoins usage are that taxes are not included in any purchase. Since there is no way to identify or track the transaction of bitcoins.
As we know that it is an online form of cash, so purchasing a bitcoins is totally different rather than to buy any bond or stock, the monetary policy, inflation rates and the measurement of economic growth that influences the growth of the economy do not apply to the bitcoins as it was not issued by any government intermediaries or central banks.
