Bitcoin was the first cryptocurrency mined by Satoshi Nakamoto in 2011. Although the concept of blockchain technology first emerged back during the late 1970s, it was only during the last decade that cryptocurrency has shot to fame.
Although several different crypto coins are available, Bitcoin remains the leader with the most extensive user base. Thousands around the world have left their full-time jobs to be associated with Bitcoin. They are either miners, buyers, sellers, or traders. At this point, Bitcoin is the most important of all cryptocurrencies with the highest value.
Blockchain technology, at the center of Bitcoin, is unique and highly fascinating. Many sectors, such as supply-chain, healthcare, etc., have adopted this technology for their daily needs. This phenomenon is because of the several benefits that the technology offers.
Let us go through the various advantages of blockchain technology and Bitcoin that are responsible for providing women with the chance to excel and be independent.
- More manageable Payments – It takes around ten to fifteen seconds for any transaction through the blockchain. Bitcoin transactions are even faster because millions of miners spread worldwide who continuously work towards maintaining the network and verification of the trade.
This feature has made the payment process through Bitcoin much more straightforward and accessible to women worldwide. When such a thing happens, it automatically opens up the market to them.
- Safe and Secure transactions – A blockchain is a secure place. Nobody can access crucial information stored in a blockchain apart from the owner. Therefore, one can be sure of the security aspect. This characteristic of blockchain technology makes it clear that every transaction that takes place is completely protected.
The security is so high that no hacker can get into the system. This feature helps women to receive payments and keeps their transactions safe. In the case of traditional modes of payments, there is always a chance of fraudulence or an error that can lead to massive losses. With Bitcoin payments, that can never be a thing.
- Greater Reach – Bitcoin has users spread all over the world. Isn’t that a significant advantage? If you are wondering why and how, let us explain. One cannot deny the fact that building a business is challenging. And when it comes to women, it is all the more difficult. The reason behind this is age-old patriarchy and the mindset that women should belong to the home and the kitchen. However, in the last few years, with more and more women in business, things have changed for the better.
Now comes the most crucial part. Men dominate the market around us. They own most of the companies. Therefore, women’s businesses need more reach to bloom. Thanks to the internet, women-led small companies have gathered a lot of attention and support. Unlike traditional banking systems, which charge fees for every international trade, One can do Bitcoin transfer without fees. This system helps women who are selling as well as the ones buying.
- Capital building and Savings – Bitcoin is not only good for transactions. It can be beneficial when it comes to accumulating capital for a new business. The same goes for savings as well.
With each passing day, we see an increase in the number of women taking the initiative to start something new. Platforms that let bitcoin come back after six weeks halts.
They can not only carry-on transactions but also trade. Bitcoin trading is a lucrative and rewarding business. It can help women in earning and saving up for building their savings.
These are the various ways in which Bitcoin is helping women throughout the world be independent and assertive. For example, with Bitcoin, it becomes easy to receive payments. So, many NGOs around the world that work towards women’s empowerment are quickly receiving international funding. It doesn’t matter if a government restricts the amount from one particular country. Bitcoin transactions can still happen.