What is Bitcoin?
Bitcoin the first decentralized digital currency is also called as the virtual currency and crypto-currency.
The world is getting digitized. Now you can pay for anything you need with the Bitcoins which you have in your digital wallet on your mobile device. So, it doesn’t have a physical presence, it’s an electronic currency.
It was first created in 2009 by the mysterious Satoshi Nakamoto -or it’s the name that is used by that unknown person-
You can send your bitcoins through the internet as simple as sending an email. Also, you can purchase whatever you want using the Bitcoins.
How Much Does a Bitcoin Worth?
1 Bitcoin equals 1576.12 US Dollar.
What Characterize the Bitcoins?
- You can transfer your Bitcoins to anyone through the internet without having to go to the bank and go through their complicated transfer transactions,
- Transaction fees are much lower than the bank transaction fees,
- Your Bitcoin account will never get frozen,
- The transactions are fast and easy,
- You can exchange your currency with Bitcoins whether it was US Dollars, Euros, Japanese Yen, Russian Rubles, Pound Sterling, or Pecunix Gold.
Miners are securing the Bitcoin network by verifying the transactions then it got recorded in a transparent public ledger.
It’s an open source software. So, you can review the code anytime.