Bitcoin is a digital currency and it is one of the most important inventions in the recent times. There is a huge market and there is a huge demand for it as it provides security and anonymity which is a plus point. The demand for it is very high as it is an alternative to the fiat currencies.
So, if you are looking for a stable and secure way of payment then Bitcoin will be the perfect choice for you. There are some apps that you can download and use for making Bitcoin payments and the most popular one is the Bitcoin Prime.
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How it works:-
This app allows you to make instant Bitcoin payments through any of your bank accounts. This app is available in both Android and iOS platforms. So, let us know what the Bitcoin Prime app is and how it works. What is the Bitcoin Prime app? Bitcoin Prime app is a mobile application that allows its users to make payments through their bank accounts.
So, this app will allow you to send money to anyone in the world through your bank account or credit card. In simple words, the app allows you to convert the Bitcoin into a fiat currency and transfer it to your desired recipient’s bank account.
It doesn’t matter whether you are living in the USA, India or Japan as the app supports all the countries. You can also transfer the Bitcoin to any of your bank accounts. So, you don’t need to worry about the fees that are incurred during the transaction process. The app charges
Transfer Process:-
2.1% of the amount that is being transferred. How does it work? The first thing that you have to do is to download the app on your phone and then open it. Now, the app will guide you to create an account.
Once you are done with the registration process, you will receive a two-factor authentication code to verify your identity. The next step is to enter your bank account information on the app’s website. Once you are done with that, you can make payments through your bank account.
In recent years, many people are discussing about bitcoin prime and blockchain technology because it has become a new trend in the financial sector. The first cryptocurrency was developed by an unknown person or group of people but as time passed it has become a powerful source of money.
The main aim of Bitcoin is to make the online transaction much more convenient and fast. Many other cryptocurrencies are developed based on the Bitcoin platform. In this article, we will discuss about Bitcoin Prime pros and cons.
Bitcoin Prime Pros:
- Easy to Use
Bitcoin Prime is the simplest cryptocurrency out there which is used for simple transactions like buying and selling goods. It doesn’t require any registration and KYC (Know Your Customer) procedures. So, if you have bought some thing and want to sell it then just go ahead and sell it directly to someone.
- No Need for Banks
When you buy something online with fiat currency, you will need to go to your bank and take a loan for that. But in case of Bitcoin, you don’t need to worry about taking a loan from the banks.
- Easy to Mine
One of the biggest advantages of Bitcoin is the fact that it is easy to mine. You don’t need any kind of professional help to mine Bitcoin and you can do that yourself.
Bitcoin Prime Cons:
- Low Transaction Fees
When it comes to cryptocurrencies like Bitcoin, they are mostly used for payments and not for storing money. So, if you want to make transactions with Bitcoin, then it will cost you more than fiat currency. It’s always advisable to use fiat currency when making payments.
- Low Transaction Speed
If you want to make a transaction on the Bitcoin platform then it will take time. It is much slower than other popular payment methods. You will have to wait for a couple of minutes to complete the transaction.
- It’s a Digital Currency
This is one of the major pros and cons of Bitcoin. As we have already discussed that it is a digital currency so it doesn’t have any physical form, which means you can’t hold them or transfer them as cash.
Conclusion:
So, there are some pros and cons of using Bitcoin but overall I would say that Bitcoin is the best option out there to make transactions in an easy way. So this application works like a magic for crypto traders. This app is very useful and if you are looking for a way to make instant Bitcoin payments, then this is the perfect app for you. It is available for both Android and iOS devices and you can make instant payments via your bank account.