Bitcoin

Manish Sharma Manish Sharma , November 13, 2017 Bitcoin

Bitcoin is kind of new currency that was created by an unknown person in 2009 using the alias Satoshi Nakamoto. In this Transactions are made without any mediator like a bank and no transaction fees are charged and people doesn’t require to give their real name.

Benefits of Bitcoins

Goods can be purchased anonymously through it's. Bitcoins are not tied to any country or subject to regulation so International payments are easy and cheap in cost. It's are good for Small business because there are no credit card fees to use this.

Buy on an Exchange

There are many online marketplaces which allow peoples to buy or sell it's using a different type of currencies.

Bitcoin Mining

Usually, it's miners use software’s and computers to solve complex math puzzles. This is how bitcoins are created.

Owning Bitcoins

The Bitcoins are stored in a “digital wallet,” which are stored either in the computer or on a cloud. Now, what is wallet we can consider it as virtual bank account through which users can send or receive bitcoins, pay for goods or save their money in a wallet.

Transfers

If we search online then we will get lots of mobile apps to send and receive it's through that apps with this there are lots of websites also which provides it's transfer services, It is same like online banking facility provided by banks through which users send money to other users similar to this People can send it's to others by using mobile apps or their computers.

Anonymity

When we talk about anonymity while bitcoin transaction then it works like all bitcoin transaction records are stored in public log, but for privacy the names of both Parties (sellers and buyers) are not revealed to anyone only their wallet IDs are revealed, due to this users transaction remains private, so users can buy and sell anything without getting traced Because of such privacy in transaction users like this currency to buy or sell illegal Products.

Future of Bitcoin

According to our research about bitcoin we have found that On August 1st, 2017 bitcoin cash was created as an entirely different type of payment network. Holders of bitcoin were awarded the same number of bitcoin cash.

In mid of September 2017, bitcoin cash had been traded at $490 per coin with a market capitalization of $8.1 billion. In comparison, bitcoin traded at $4,000 with a market capitalization of $66.3 billion through this we can predict about the future of Bitcoins.

Bitcoin cash is real money or not?

Most of peoples have this concern in their mind about this that they can use this as real money or not and the answer is Yes, this cash was created to give people a way to send and receive real money anytime, anywhere, without the intervention of banks and governments. it's cash have a value because holders of BCC agreed that it have value to be used as real money. Mutual dealing or agreement between thousands of peoples around the world makes bitcoin cash to be used as medium of exchange in online transactions.

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