On the Mobisun website, bitcoin payments are accepted. Mobisun made this decision because of several benefits to using cryptocurrencies instead of fiat money.
- Cheap and quick international payments
A new payment method based on blockchain technology is cryptocurrency. Digital currencies are made unique and divisible using clever cryptography or encryption. With cryptocurrency, payments may be made quickly and anywhere in the globe at cheap transaction fees.
- Cryptocurrencies are portable
You can manage a digital wallet (wallet) where you keep cryptocurrency on your computer, your phone, or a hardware wallet (a USB stick). The Ledger Nano S can be used for this. With this hardware wallet, you may travel with your cryptocurrency. Keeping your cryptocurrency on a credit card is an alternative. This is being created by the business TenX.
- Your own property is your cryptocurrency
The cryptocurrencies are entirely under your control and possession as long as you know the password or passphrase to your digital wallet; nobody else can use it, according to BTC Loophole.
Contrast this with money you deposit into a bank account, which is technically no longer your property. When you deposit into your bank account, the bank that manages your money on your behalf counts you as one of its creditors.
The bank serves as a middleman between you and the third party in transactions you do with your money.” You have faith in the bank to carry out these transactions as you planned.
With cryptocurrencies, things function differently. Without the assistance of a bank or other third party, you quickly transact business with other people. Peer-to-peer or person-to-person transactions take place while using cryptocurrency.
- Unbanked people’s banking
Worldwide, there are almost 2 billion people without access to a bank account. A lot of these people do possess smartphones.
Thanks to cryptocurrencies and blockchain technology, these folks can conduct financial transactions using biometrics and a mobile phone, which boosts their prosperity.
- The accuracy of transactions
The trust for a cryptocurrency transaction comes not from a third party like a bank but rather from the computer code of the particular coin. Therefore, “trust the code” is a phrase that is commonly used in the crypto sphere.
As more individuals use a particular blockchain and/or as the code has more security assurances or stronger encryption, confidence in it grows. In some cases, a blockchain’s age or history guarantees the users’ confidence in it.
- High level of privacy
It would help if you divulged a lot of personal information to carry out transactions through a bank. You don’t need to submit any personal information to make a payment using bitcoin, and all transactions are private.
Each coin has a different level of privacy and anonymity. For instance, the privacy-focused cryptocurrency coins Monero, Dash, CloakCoin, and Verge are well-known.
full-time, round-the-clock transaction tracking
A decentralized network of devices (referred to as nodes) verifies every transaction within the blockchain, and each one is timestamped, linked to the preceding transaction, and forms a chronological series of transactions.
All devices connected to the blockchain network are in constant sync and update with the register of these sequential and irreversible transactions, also known as the blockchain. This renders it hard for the sender to cancel the payment or for a third party to alter the payment.
Additionally, everyone has access to constant confirmation of the success or failure of a transaction. Everyone can track these transactions anonymously using the so-called block explorer.
- Divide across as many cryptocurrency bank accounts as you like
You can create as many account numbers or addresses as you’d like in your cryptocurrency wallet. When you opt not to carry around too much cryptocurrency, this can be helpful.
Let’s say you have Bitcoin worth €1,000. You can leave this at one bitcoin address, but if you want to use your phone to make a payment, it’s helpful to use a mobile app to create a different bitcoin address or account number to which you transfer, say, €100. Then, you can use your mobile device to spend up to €100 on Bitcoin.
Additionally, you can create your account numbers for things like fixed costs, groceries, vacations, or for the kids. In essence, you act as your banker while using cryptocurrency.
We hope you’re happy with the details. Kindly remember to share these details with someone who might need them. However, these tips should be enough to help you make the right decision. You can check out our official website for additional information on the same.