Bitcoin

What is Bitcoin ?


◘ Bitcoin is digital currency (cryptocurrency) and a payment system

◘ Bitcoins aren’t printed, like our Rupee, Dollars or Euros

◘ It is created and held electronically (through nodes) and No one controls it.

◘ Bitcoin is invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto.

◘ Bitcoin was introduced on 31 October 2008

◘ Bit coins are produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.




Difference Between Bit coin and Normal Currency?


◘ It is not printed.

◘ Banks don't have power to control it.

◘ Bitcoin can be used to buy things electronically.

◘ No transaction fee imposed (By any bank)

◘ The system is peer to peer and transactions take place between users directly.




Characteristics of a Bitcoin ?


◘ It is Anonymous - It can not linked with your any personal details.You also have multiple accounts to handle bitcoin.

◘ Transaction fees - Banks charge Transaction fees whereas in Bitcoin no transaction charged.

◘ It is fast - You can send money anywhere and it will arrive within a minutes.

◘ It is decentralized -The bitcoin network is not controlled by one central authority.




Site to Buy and Sell Bitcoin

For more Information and stat dealing with bitcoin please visit bitcoin.org





By - Somesh Sah