Practically, just about any product or service that may be bought with dollars or other currencies can also be purchased with bitcoins. On the flip side, the significant volatility of bitcoins is a massive risk for several people that might want to use this cryptocurrency, but they are afraid of cost differences. Even so, the characteristics of bitcoins make them perfect for btc to inr payments:
- Fast transactions
A bitcoin transaction is processed in 10-15 minutes. In the case of a bank transfer, it may take hours or even days for the money to acquire from one account to another. Some may say that PayPal or alternative e-wallets are faster. It’s correct. However, there are different aspects that wallets cannot give: privacy and smaller commissions.
When you send bitcoins to a partner on the world wide web, the transaction will be registered in a blockchain. The list of transactions is public, and it can be verified on specialized websites. Just the identification number, the sum and the period are recorded. There’s no way for somebody to find out where the bitcoins come and where they go.
- Smaller commissions
The average commission is 0.002 BTC for a trade. It’s significantly smaller compared with PayPal or banking commissions. Moreover, you are not even obliged to cover it by paying a commission; you “reserve” the computational power of a pool (or at least a part of it) to process your transaction faster. You have the chance not to cover the commission. In this case, you might need to wait two or even three times for your btc to inr transaction to be processed. If you are not in a rush, this could be the perfect opportunity to make money transactions with zero costs.