There are several important features that fundamentally distinguish cryptocurrencies from traditional currencies.
Decentralization
The bitcoin network is not controlled by a single central body. Each computer that "digs" the currency and confirms payments contributes to the operation of the network, so the whole network consists of many individual entities and manages the currency. This means that one central government cannot make changes that have dire consequences or deprive people of money, as the European Central Bank did in Cyprus in 2013. Even if any part of the network disconnects from the Internet, the circulation of money does not stop.
Easy to get started
Traditional banks force people to go through many different procedures just to open a bank account. To open an account for payments or trade, people have to overcome even bigger mazes of bureaucracy. It only takes a few moments to open a bitcoin account and it costs nothing.
Anonymity
Users may have multiple bitcoin wallets that are not associated with their name, address of residence, or other personal information. This by no means means that you can get rid of responsibility for your actions.
Transparency
Every order made with bitcoin currency is recorded and stored in a huge database called a blockchain. If you use a bitcoin wallet in public, anyone who wants to can find out how much money is or has been in it, but no one can find out who owns it. There are certain actions that people can take to hide their activities on the bitcoin network. For example, do not use the same address for multiple orders or transfer many bitcoins to the same address.
Price of payments
One of the main advantages of bitcoins was the low cost of payment orders, but with the sharp increase in the number of transfers in this currency, the price of transfers also increased significantly. The Bitcoin community is currently looking for solutions to eliminate this problem.
Sparta
Payment in bitcoin currency will reach the recipient as soon as the currency network processes the payment information. Theoretically, the duration of the order should be only a few minutes, but due to the high loads of the plaster, the orders currently take significantly longer.
The possibility to recover the order does not exist
When bitcoins leave the wallet, there is no going back. Unless the recipient himself returns them back.