Before briefing about what is bitcoin, let’s talk about where this term came from. Bitcoin is a type of cryptocurrency. “Cryptocurrency” is a non-physical currency that is used in purchasing online items. This form of currency is quite new in the market and most people are not familiar with it. This currency holds the monetary position yet does not hold any central authority. It works without the involvement of any bank or middleman. It goes in hand from person to person and so the chain goes on. There are many types of cryptocurrencies including Litecoin, Ethereum, Ripple, Stellar, and Bitcoin.
This currency was invented in 2008 by an unknown group/company. These people started this business using the name “Satoshi Nakamoto”. (This point might scare you as any transaction without a bank seems unofficial). But bitcoin has active users between 400,000 to 800,000. For Pakistani users, Ghoomo Phiroo brings a great comfort as it is the first company of Pakistan now featuring Bitcoin as the payment of transaction. You can use this cryptocurrency method and book resort to your desired place.
Here to announce that Ghoomo Phiroo has been stated as the first register travel company in Lahore that is offering payment through bitcoin. It is giving convenience to all bitcoin users by featuring this new method. In this way, they can book their trips with Ghoomo Phiroo using this (Bitcoin) cryptocurrency. Now, all you need to do is sit at your place, pay us online through Bitcoin and we will reserve your seat. Some of you not who do not have bitcoin might be thinking should we buy this new currency or go with our traditional.
For this read some of the advantages of using cryptocurrency
While discussing Bitcoin, we have understood that it’s a decentralized currency which for sure creates a sense of uncertainty. But on the other hand, it gives freedom to its user. Users have more autonomy in cryptocurrency than other currencies. Bitcoin users can also monitor their spend on money without dealing with any third party.
Whenever a customer buys a Bitcoin, the purchase is careful. Bitcoin keeps an eye on the privacy and security of its clients and unless a user publishes his transactions, his identity is not attached to it. Personal identity includes cash_only purchases. The data of the user is also protected and no one can trace him. The most amazing feature in it is the uniqueness that the address of the bitcoin is changed after every single transaction.
Not that there is any transaction fees or fund as cryptocurrency charge ‘maker and taker fees’. But these charges are nominal. But the major advantage that Bitcoin users get is that they are free from all kinds of traditional charges associated with fiat currencies. That goes straight to the point that Bitcoin users need not worry about account maintenance and returned deposit fees.
Since buying any purchase from foreign involves a number of exchange costs too. Here is another big benefit to the users of Bitcoin that this amount is kept extremely low because no intermediary institutions are involved in it. Moreover, the transaction is done immediately, without leaving the customers in the inconvenience of long wait.
You are also free to make transactions anytime anywhere in the world too. Users can also use their smartphones to transfer money.