Bitcoin is a type of crypto-currency or virtual currency. These currencies are traded through the internet.
The cryptocurrency was invented in late 2006 by Satoshi Nakamoto, a Japanese citizen, or a group of software scientists. Although the real name or identity of this person is not yet known.
This new virtual currency is called Bitcoin.
The currency began to gain popularity in 2013 after surpassing দাম 10,000.
It is a direct peer-to-peer exchange between two users using the Internet without revealing their identities. Data on these transactions is protected through blockchain networks, but there is no authority like the central bank to oversee transactions in these currencies. New bitcoins are created through these miners.
After Bitcoin is created or purchased, it is deposited as a customer. He can then use them to buy or sell products. If sold, it can be accepted in the conventional sense instead of bitcoin. Although the transaction is done using different computers, the information is updated on the central server.
Bitcoin is considered by many to be the currency of the future.
Since Bitcoin does not require a financial institution to transact and its transactions cannot be tracked, many fear that it is being used for drug, black market and money laundering.
In the last few years, the ecosystem of Bitcoin has expanded, and online bitcoin exchanges have also been launched.
Bitcoin now has legal recognition in many countries around the world. However, bitcoin is still banned in Bangladesh, Egypt, Algeria, Morocco and other countries.