What are the merits and demerits of Bitcoin, the first Cryptocurrency?

Like any other currency, there are advantages and disadvantages with using bitcoin.

Merits/Advantages

1. Global currency which can be exchanged anywhere, anytime
2. Not subject to banking regulations, capital controls, government oversight
3. Transparent and neutral
4. Limited transaction fees
5. Full control of funds
6. Growth in institutional acceptance
7. Fast transactions

Demerits/Disadvantages

1. Subject to controlled supply
2. Bitcoin valuation fluctuates
3. Ongoing development
4. Lack of recourse
5. As with every digital currency, security is always an issue

As Bitcoin market becomes more common and popular, the above conditions may change.

Posted by Maria Sanchez

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Maria is an expert of financial markets, bringing all the information from English to Spanish for a better understanding of the online traders. She is also a day trader with experience in developing trading strategies that generate profit while minimizing risk and working under high pressured environment. While being a portfolio manager by herself, she focuses on marketing and consultancy of financial and Insurance products.