Bitcoin has the following features:
- PEER TO PEER INSTANT TRANSFER
Bitcoin can be traded and transfer anywhere in the world for a very small transfer fees. Just like email services, you can send Bitcoin from one address to another instantly.
- BITCOIN PRICE IS VOLATILE
The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Bitcoin price is determined based on demand from buyers and the supply of sellers.
- IRREVERSIBLE TRANSACTIONS
A Bitcoin transaction cannot be reversed, it can only be refunded by the person receiving the funds. This means you should take care to do business with people and organizations you know and trust, or who have an established reputation.
Bitcoin is not controlled by any Institution or Government. With bitcoin, the integrity of the transactions is maintained by a distributed and open network called Blockchain that records and verify all Bitcoin transactions.
- THE AMOUNT IS LIMITED
Inspired by the rarity of gold, the number of Bitcoins in existence will never exceed 21 million.
A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction. You don't have to buy a whole bitcoin!