The following is a list of applications of bitcoins
Bitcoins are being used to buy goods and services as more and more stores across the world are accepting bitcoin payments.
Bitcoin transactions provide a customized level of anonymity and it is relatively difficult to trace their trail. So bitcoins are being used to transact anonymously.
International payments can be made easily and cheaply as bitcoins are not related to any country or subject to any government regulation.
There is the freedom of the fact that there is no need of permission from any authority for your transactions.
Bitcoins provide a way to transact securely online as they use very strong cryptographic algorithms.
Users and businesses like bitcoin payments because there are no credit card fees to pay.
Bitcoins can be as an investment, expecting that their value will appreciate significantly in future.
Bitcoins can be used to gamble on online sites like SatoshiDice, RoyalBitcoin, Bitzino, Peerbet, etc.
Bitcoins are being used to shop online as increasing numbers of vendors are allowing bitcoin transactions. Users now can make payments in bitcoins on their smartphones through bitcoin wallet apps.
Unlike credit card or bank payments, there is no need to provide personal information to complete the transactions. So the hassle of providing identity can be avoided.
53 Lectures 9.5 hours
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