Bitcoin is changing the way we think about money in an exciting, revolutionary way. There’s so much to appreciate about Bitcoin, so we’ve put together several of the things we find most amazing about it.
1. Money that anyone can use anywhere with an internet connection:
As we mentioned in the "What is Bitcoin?", one of the amazing things about Bitcoin is that anyone with a smartphone or computer connected to the internet can make transactions. Sure, anyone can trade using cash, but if you wanted to send 10,000 yen from Japan to someone in Brazil on the other side of the world, it would take days to arrive by mail, and since Japanese yen isn’t used there, the person would need to exchange it for Brazilian currency. Plus, because Japanese yen isn’t in high demand in Brazil, they’d likely have to pay a high fee to exchange it.
In Japan, nearly everyone—98% of people—has a bank account, which is one of the highest rates in the world. But globally, over a billion people don’t have access to a bank account, according to the World Bank's Global Findex database. For example, in Indonesia, with a population of 270 million, more than half of the people—about 130 million, roughly the same as Japan’s population—don’t have a bank account.
Data source: World Bank Global Findex
In countries like Indonesia, not having a bank account can mean different things—some people may feel they don’t need one, while others may simply lack access because there isn’t a bank nearby. When it comes to credit cards, only about one in four people worldwide actually has one. And for people in Japan, while almost everyone has a bank account, those accounts generally can’t be used abroad, which makes it pretty inconvenient when traveling without a credit card. In fact, three-quarters of people around the world live without a credit card and face these everyday inconveniences.
Today, we can travel easily and affordably around the world, yet isn’t it odd that sending money across borders is still so hard? Even though people and information can cross borders with ease, moving money still faces a lot of barriers. If someone in Japan wants to send money to someone in Brazil, they’d have to make sure the recipient has a local bank account.
But with Bitcoin, things are different. Anyone with a smartphone can quickly set up a wallet and send or receive money directly, no matter where they are.
Even in Japan, where 98% of people have a bank account, there are still about 2.5 million people without one. This includes:
(1) Elderly people
(2) People with disabilities
(3) Foreigners
(4) People with certain past criminal backgrounds
(5) Those in remote areas
(Source: KPMG "Challenges and Responses to Financial Inclusion in Japan" )
For some elderly people, getting to a bank branch isn’t easy. And with Japan’s shrinking population, the country is likely to welcome more foreign workers in the future, yet opening a bank account as a foreigner in Japan is still a real challenge.
With Bitcoin, elderly people wouldn’t have to visit a bank branch—they could manage their Bitcoin on their smartphone or computer anytime, anywhere. Likewise, it doesn’t matter if you’re Japanese or from another country; anyone can use Bitcoin to create a wallet.
For people in remote areas, Bitcoin offers similar advantages. Japan has many remote islands—416 inhabited islands and thousands more uninhabited, according to the Japan Remote Islands Center, a public interest foundation. In places without banks or convenience stores, the post office has to bring cash. But with internet access, even these remote communities could easily exchange money using Bitcoin. Imagine a future where people outside Japan can directly buy delicious seafood caught on these islands!
We believe that money is essential for everyone, and it should be accessible. Even though the internet is everywhere now, many banks still don’t offer adequate online services. That’s why we think Bitcoin is a fantastic tool—a currency anyone can use from anywhere, simply by creating a wallet online.
2. Money that allows you to trade with people on the other side of the world:
With Bitcoin, sending money from Japan to someone in Brazil becomes easy. When you send money through a regular bank, you’d first need to check if the other person has a bank account in Brazil, figure out the exchange rates and fees, and then go through the process of sending it. Plus, if you mention you're sending money to Brazil, the bank in Japan might ask for the reason and even request a contract—and there’s a good chance they could decline the transaction altogether.
Bitcoin doesn’t come with these hurdles. You can simply send money to someone in Brazil right away. Here are a few ways this can work:
(1) Trading digital goods: People in rural Brazil can sell things like digital art, e-books, or music to people in Japan. They receive payment through Bitcoin, and then share their goods via email, cloud storage, or blockchain platforms.
(2) Selling physical products: Local producers in Brazil’s countryside can sell coffee beans or other unique products to people on remote islands in Japan. They get paid in Bitcoin and ship the products using international mail or courier services.
(3) Providing services: Residents on remote Japanese islands can take online English lessons from teachers in rural areas of the UK, paying directly with Bitcoin.
(4) Donations and fundraising: Communities on remote islands in Japan or rural areas of Brazil can raise funds for local events using Bitcoin. This way, people worldwide can easily contribute and support these events.
Bitcoin opens up opportunities for global connections, making it easier for people to exchange value and support one another across borders.
3. Money that can be traded 24 hours a day:
Bitcoin transactions can be done 24 hours a day, without holidays. For example, if you suddenly need to send money from a friend overseas in the middle of the night, you can avoid a situation where you cannot send the money because the bank is closed.
4. Money that’s easy to send quickly, affordably, and in small amounts:
Bitcoin is especially helpful for parents who want to send living expenses to their student children living overseas. Traditional bank transfers for international remittances can be costly and take time, so people often send larger amounts all at once. But parents might prefer to send smaller amounts more frequently to help their kids manage spending more responsibly. With Bitcoin, you can send just a few weeks' worth of living expenses at regular intervals, similar to giving pocket money, even from far away.
Or consider if you need to pay someone overseas for a job. While credit cards are often used for small payments, not everyone has a credit card. Plus, credit card companies charge fees, and those who receive payments may also need to use a service to convert those funds, which takes time and may incur more fees. With Bitcoin, the payment can go directly, without these added costs and delays.
5. Money that you control without extra fees or restrictions:
Nowadays, most people don’t keep large amounts of cash in a safe; we rely on banks instead. But banks often charge fees when you withdraw from an ATM or transfer funds. Some people even report that when they try to send a larger amount, they’re questioned as if they’re involved in some kind of fraud or scam. People often wonder, “Why should I have to explain myself just to send my own money?”
There’s also a law in Japan called the "Dormant Deposit Utilization Act," which was enacted in 2018. This allows the government to use funds from bank accounts that haven’t had any activity for 10 years to support public interest activities (the Japan Times). While you can still access these funds by asking the bank, it can be quite a hassle once an account is considered dormant.
The main feature of Bitcoin is that it’s money you can use without relying on anyone else. Unlike money managed by a bank, with Bitcoin, your money is truly your own, like cash in your wallet. Transactions and transfers are designed to be completed by you alone. As long as you keep your seed phrase (like a key to your wallet) safe, you can access your Bitcoin anytime. And, unlike a bank, there’s no fee just for holding Bitcoin in your wallet.
6. Money that’s free from government policies and laws:
Bitcoin operates independently, without being tied to laws or direct government or central bank policies. For example, decisions about the US dollar, such as interest rates, are made by a 12-member committee, while Japan’s monetary policy is set by a nine-member board. These small groups have the power to decide policies like interest rates or control the amount of money in circulation, which can have a big impact on the currency’s value.
In response to rising inflation in the US, the Federal Reserve began raising interest rates in 2022, aiming to curb price increases by tightening the money supply. Meanwhile, Japan has kept interest rates low, but prices have still gone up, partly due to rising import costs. These examples show how central bank policies influence the value and purchasing power of traditional currencies.
Bitcoin, however, works differently. It doesn’t have a central authority setting its supply or adjusting its value. Instead, it operates on a decentralized system, where no single government or small group controls it. This gives Bitcoin a unique independence from traditional monetary policies and makes it less subject to the decisions of a few people or central institutions.
7. Money that’s secure because it uses blockchain technology:
Bitcoin keeps track of all transactions using a technology called "blockchain." Think of it like a digital ledger where blocks of information, each containing transaction data, are linked together like a chain. This structure makes it very hard to tamper with, adding a layer of security. This security is also connected to Bitcoin mining, so for more details, feel free to check out "What is Blockchain?" and "What is Bitcoin Mining?"
Seeing it this way, Bitcoin is a completely different kind of currency from the Japanese yen or US dollars we use every day. You could say Bitcoin is like "money circulating on the internet," making it a truly unique and impressive type of currency.