In the world of digitalization, everything from paying online to being socialize everything matters. We can now pay online through mobile wallets, online banking and now with digital currency. Digital currency is basically the currency (rupee, dollar, etc.) which is online. It is known as cryptocurrency and is used to pay online. Many countries now a days uses cryptocurrency instead of paper currency. Bitcoin is one of such currencies. We will read more about bitcoin and bitcoin price in this article.
What is bitcoin?
Bitcoin is a cryptocurrency which is fully decentralized, that is no one really except the public controls the value of currency and flow of it. There are no intermediaries for bitcoin. Bitcoin is free from any bank fees or charges. It is instant and private and bitcoin price differs and fluctuates a lot depending on its demand. It is world’s first cryptocurrency. Every transaction done related to bitcoin is recorded in blockchain which is a digitalize ledger. It was created by some unknown person or group of people.
What are its benefits?
- Digital: Since bitcoin is digitalize, we don’t need to carry bitcoin with us.
- Saves paper: It also helps us to save the paper and it also save the cost.
- Reward: Bitcoin is like reward points which is redeemable on purchasing products or services.
- Transparent: It is easy to redeem and use it and every transaction is recorded online.
How to buy bitcoin?
Bitcoins are available as a buying option from various exchange or from marketplace. There are hardware wallets, paper wallets. The authencity of transactions are protected with the help of digital signature and hence the chances of fraud can be minimized by this. Every transaction is verified and this process can take little time to complete. You as the user have full control over the transaction.