Bitcoin Deat:31/10/2022 Topics:Bitcoin Today I have some details about my bitcoin, before that thank you all from my side and inner love, greetings to all assalamu malakul, and greetings to other nations, I am a new member of read cash, and I feel so good to be a member of such a big family. I joined with.
Bitcoin (₿) is the world's first open-source cryptocurrency known as a decentralized digital currency. It does not require any type of financial institution or clearing house for transactions, and it is not a currency issued by any country's government. [1] In 2009, an individual or group under the pseudonym Satoshi Nakamoto introduced this currency system, which is called a peer-to-peer currency. .[Bitcoin transactions take place directly from the sender to the recipient's computer on an online basis.[4] These transactions are verified through cryptography and are publicly recorded in a ledger that is distributed to everyone. This open and distributed ledger is called the blockchain.[5] Bitcoins are produced through mining where transactions are recorded and authenticated based on computer processing power. [6] The total number of bitcoins generated from transactions decreases every four years. In this way, a total of 2,10,00,000 bitcoins will be created until the year 2140 and no new bitcoins will be created later. Bitcoin is currently the currency of El Salvador. El Salvador is the first country in the world to legalize Bitcoin as its national currency. The government of El Salvador maintains the US dollar as the legal currency of the Central African RepublicThe Republic (Central African Republic) is the first country in the African continent and the second country in the world to declare Bitcoin as the legal currency of their country. Bitcoin is a blockchain-based decentralized currency. It has no regulatory body, that is, Bitcoin does not depend on any country or government, anyone can exchange Bitcoin from any location. Last Tuesday, the Congress of El Salvador voted to recognize Bitcoin as the official currency. As a result, within the next 90 days, Bitcoin will be traded as a legal currency in the country alongside the US dollar.El Salvador's new law now requires bitcoin to be accepted as legal tender for all financial transactions in the country, but businesses that don't have bitcoin transaction technology are excluded, leaving nearly two million Salvadorans living abroad. But they have a very close connection with the motherland, they send about four billion or four billion US dollars annually. When a person sends remittances from abroad to his home country, they usually use a bank or financial institution for this transaction. But sending money through any such institution has a cost. They have to pay a commission to send money from one country to another. For example, if someone wants to send 1000 dollars from the US and there is an opportunity to send money with zero commission, then in reality customers have to pay a lot of fees. Banks in both countries charge this fee. ***Thanks everyone for reading my article***
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