One of the most significant questions is; Why use bitcoin to purchase with? As more and more personal financial data is now transferred and held by small and large companies including retail stores. Security from hackers and fraud have not kept up to protect your business identity. To help protect your business identity, you are asked to buy identity theft protection, make unique passwords, temporary credit card numbers per purchase offered by some credit card companies, security pictures, security questions and answers, and PINs. With all of these security measures you are now requested and required to buy or give but even after this, you still rely on individual companies to protect your financial identity within their servers. This cost you time and money and time is money. Now then, what if you could hand the merchant cash type system every time as a way to protect your financial identity when you would like to buy a service or product from cash over the Internet, and no personal economic status is given? You would be protected from this company or merchant from losing your financial identity by hackers or them stealing your business identity by fraud and steal from your bank account or charging your credit card or payment service like PayPal hundreds if not thousands of dollars. Bitcoin gives you this protection as bitcoin is a PUSH payment system unlike credit cards and payment services are PULL type payment systems. Push systems are like cash, you hand your money to someone, and you no longer have it, but a pull type system is when they request payment from you. 

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•Why would you use bitcoin to buy with? 

Bitcoin protects your financial identity.

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•How does bitcoin protect your financial identity?

 You send the bitcoin like when you use cash. No personal financial identity is given like Credit Card numbers or links to payment services. 

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•As bitcoin is also used as a commodity like gold and silver, the price goes up and down very rapidity. Are you afraid of buying something with bitcoin for $50 but the next day it was like buying something for $60?

As stated in an older blog post, you need to treat bitcoin as more than cash. Bitcoin is a commodity, it is cash, it is an asset, and it is protections. The old rules do not apply anymore, and a new way of thinking is used. To protect yourself, use bitcoin as saving and checking and replace all used bitcoin at the time of purchase. 

 

 

•As bitcoin companies have been hacked in the past, don’t you feel like you are still vulnerable to hackers and fraud using bitcoin? 
 

No, we believe you should take just as much protection using, storing, and holding bitcoin as you do with your cash and bank accounts. We also recommend that you do not trust any single company with saving or holding your bitcoins private keys. We also recommend using every optional security measure provided by any bitcoin company or non-bitcoin company. Bitcoin in its self is very protected, but treating bitcoin like a fake, no value token and you do not understand bitcoin security and you have not done all the research, you will have problems. We recommend you do not own any bitcoins until you know this. 

We trust a minimal amount of companies with our financial identity including bitcoin and non-bitcoin related but we also take every precaution using them and you should too. Read past and future blog post for more information as it becomes available and does your research. Bitcoin is a newer technology and has and will go through its growing pains including each company in the bitcoin space.