What is bitcoin?

Bitcoin is a decentralized digital currency. This is the first decentralized digital currency, which means that it is not operated by any central bank. It has been created for payment based on computer networking. It has been developed by an engineer named Satoshi Nagamoto.

This is a new currency protected by encryption for mutual payment on mass computer networks. This currency made with a numerical system is kept in numeric purses only. It started on January 3, 2009. This is the world’s first fully open payment mechanism. There are more than 10 million bitcoins in the world. Bitcoin is a virtual currency, virtual means that it does not have any physical form like other currency, it is a digital currency. It’s a currency that you can neither see nor touch. It is only an electronic store. If someone has a bitcoin, then he can buy goods like a common currency.

Bitcoin is currently becoming popular in the world. It was invented by Satoshi Nagamoto, an engineer in 2008, and was released in 2009 as an open source software. At present, people are buying business at low prices by buying bitcoins and selling them at high prices.

There is a transaction fee of about two to three percent for paying by common debit / credit card, but nothing happens in bitcoin. There is no extra charge in this transaction, due to this it is also becoming popular. Apart from this, it is safe and fast that people are encouraged to accept bitcoin. Like any other credit card, it does not have any credit limit nor there is a problem of carrying cash. Without the disclosure of the buyer’s identity, each transaction of the entire bitcoin network can be known. It is absolutely safe and super fast and it works anywhere in the world and there is no limit to it.

There are hundreds of thousands of website companies that accept BitCoin. You can also pay for a plane ticket, hotel room, electronics, car, coffee and anything else. Every year, $ 1 to $ 1 million in the world goes away from here. Anyway, we take the help of banks and many companies to take money, all these companies take extra money to reach the money we send to our people and we have to rely on them. Western Union, and other companies like them are in need of help, but there is no clearance to get this facility. Even today many people do not have banking facilities, but there are more people who have cell phones with internet and can not do business through internet. But now it can do this because of bitcoin because bitcoin has no ownership of any particular government or company. There is no Centralized Controling Authority on Bitcoin Currency. Bitcoin is quite famous today. This power is met with thousands of people who have a special computer that builds power on the network, secures exchange on the net and checks transactions. This is called mining.

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