What Is Bitcoin?

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3 years ago

Bitcoin is a cryptocurrency created in 2009. Marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies.

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the type is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.

Why bitcoin?

Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.

Bitcoin wallet

Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC.


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Comments

Bitcoin can be referred to as the father of all Crypto and the future of Crypto transactions. It still leads every other Crypto out there

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3 years ago

Hey can you just tell me why point freezes ?! My point is freeze for 2 day. I didn't have any penalty though my point is freezed. What is just happening ?! And I'm newbie here!

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3 years ago

Bitcoin is something that has educated my children and thank him for that, now he can do as he pleases at least as far as I am concerned

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3 years ago