Bitcoin is borderless and requires no permission for use. As of this writing, it is not regulated by any country in the world. That is likely to change. The currency is censorship resistant because no individual is able to block or freeze transactions of any amount. International payments are also easy to make with Bitcoin because the currency is not tied to any particular jurisdiction.
As a result of this, currency conversion fees are also eliminated. Using Bitcoin also eliminates other fees which are common with financial transactions, such as credit card fees. Some people buy Bitcoin as an investment. They do so in the hope that Bitcoin will increase in value over the years. The currency’s recent history does show that continued valuation is likely, but Bitcoin may or may not be effective as an investment. Though we have seen staggering growth in the past, it is not guaranteed that it will happen in the future.
Currency speculation can be very unpredictable. In this way, speculating on the valuation of Bitcoin is no different than speculating on conventional currency. Simply put, Bitcoin is a means of buying things. The way it goes up is if someone else comes along who is willing to pay more than you were.
The primary advantage of Bitcoin lies not its value as an investment, but in the privacy that it provides. Because Bitcoin users do not have to register their names, transactions remain relatively anonymous. Bitcoins cannot be printed or debased. Only 21 million Bitcoins will ever exist. They have no storage costs and do not take up any physical space. As a result, Bitcoin may well prove to be the new international currency.