Advantages of Bitcoin:

 Freedom in Payment
- Bitcoin made possible to send and get money anywhere at any time
 Control and Security
- In bitcoin you are the only owner of your money, there’s no involvement of a 3rd
party- users are able to control how they spend their money without dealing with an
intermediary authority like a bank or government., therefore no one can tax, freeze, or
claim your coins which allows users to be in control of their transactions
- Additional benefit is Anonymity: as it is not required to disclose personal identity
information in a Bitcoin transaction.
- Due to the fact that personal information is kept hidden from prying eyes, Bitcoin
protects against identity theft.
 Accessibility
- Made people free from the worry of rescheduling for bank holidays, or any other
limitations, making it available to populations of users without access to traditional
banking systems. Receive bitcoins with only a smartphone or computer
 Low Transaction Fees
- costs of transacting are kept very low
- When making a Bitcoin transfer the fees are extremely low compared to conventional
methods of moving money, where it is much more expensive than a Bitcoin
transaction.
 No Paperwork
- In comparison to banking channel, bitcoin transaction is quit fast, there’s no need for
ID card, passport or proof of address
 No Risk of Inflation
- Kasi diba Inflation usually occurs when the Government issues more money over the
year, decreasing the purchasing power of the people, on the whole. bitcoin system
was created with the sole purpose of being finite, thus, without the possibilities of
issuing excess currency- Thus, without the possibilities of issuing excess currency,
the threat of inflation comes down to almost zero

Disadvantages of Bitcoin:
 Lack of Awareness & Understanding
- Fact is many people are still unaware of digital currencies and Bitcoin.
- People need to be educated about Bitcoin to be able to apply it to their lives.
- Businesses are accepting bitcoins because of the advantages, but the list is relatively
small compared to physical currencies
 Exposure to possible Scams and Fraud
- fraudsters and scammers may attempt to sell false bitcoins or for instance there have
also been documented cases of Bitcoin price manipulation
 - For this reason you should be careful when sending Bitcoins; be sure that you are
sending them to a trusted vendor.
 Risk and Volatility
- Although Bitcoin is the most liquid and easily exchanged cryptocurrency, it remains
susceptible to wild price swings over short periods of time.Like with any investment,
Bitcoin values can fluctuate.
- Bitcoin has volatility mainly due to the fact that there is a limited amount of coins and
the demand for them increases by each passing day.
- However, it is expected that the volatility will decrease as more time goes on.
- Currently, Bitcoin’s price bounces everyday mainly due to current events that are
related to digital currencies
 Not accepted everywhere
- Only few merchants or group of people is aware about it
 Not Approved by the central bank
 No Chargebacks or Refund
- lack of standardized policy for chargebacks or refunds
- After the transaction users can’t request a refund through Bitcoin
- Some newer cryptocurrencies, such as Ripple, have rudimentary chargeback and
refund functions, but this feature has yet to be built into Bitcoin.
 Insurance Risk
- Generally speaking, Bitcoin exchanges and Bitcoin accounts are not insured by any
type of federal or government program, unlike the Normal bank accounts are insured
through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount
depending on the jurisdiction.
 Potential to be replaced by superior cryptocurrency
- If fewer people begin to accept Bitcoin as a currency, these digital units may lose
value and could become worthless.
- Another drawback coz it is still in the stage of developing: it is the limited capacity of
transactions. While other traditional transaction platforms are built to service high
volumes (for example, Visa typically processes around 24,000 transactions per
second), Bitcoin is structurally limited in its transaction volume to a maximum of
around seven transactions per second. As a result, it will be difficult for Bitcoin to
become a dominant player in the global payments market.
- Overtime it may be replaced coz though many are structurally quite similar to Bitcoin,
others make notable improvements.
- Bitcoin has some growth to do before it comes to its full and final potential.