Unlike the bank transactions, you can easily buy and sell bitcoins. When you get them, it is added into your wallet. No transactions are done directly from your bank accounts. You are supposed to put them inside the wallet and then you can easily transfer money to other bitcoin address. Whenever you transfer amount, you will have wallet address and private key which is the basic procedure of crypto currencies. By encryption and decryption method, you can easily secure your money. The price of bitcoins fluctuates from time to time. In that case, you can store them and use it for better results. You can buy, send and store the money from bitcoins. When you have multiple merchants, you can accept bitcoins in the form of coins only. No cash transactions are possible. When you send money to particular address, you have to add the amount directly into the wallet. These coins are converted as 1 btc to inr for easy transaction of money.
Advantages of Bitcoin wallet
- Bitcoin purchases are discrete. Unless a user voluntarily publishes their transaction, their purchases are never carried out
- The biggest benefit of using digital currency is that, there is no third party involved in your transactions. It has degree of freedom to access and transfer
- Transaction through wallet costs low transaction fee. They are no taxes involved in wallet transaction
Mobile payments are possible as like other banks. Unlike US based accounts, you need not share any of your personal information and it is not required to complete any transaction also
