Friends, if I were to talk about a coin that you could never touch, it would not even be in your wallet, but you could spend and earn.
Yeah Al that sounds pretty crap to me, Looks like Bitcoin aint for me either. Bitcoin is a type of coin that sounds like a coin — but it doesn't have a busy existence. It is electronically saved on your phone, tablet, laptop or any storage media. This one line alone is not the end of everything. Some more special information you need to know about this currency. Let's find out.
Bitcoin
Personally, there is no difference between a normal paper and a note. But the value of a note ranges from Rs 2 to Rs 1,000 — because there is a government behind it, there is a bank, and there is an authority. They sit together and decide what the value of a note will be. And we trust them and make this little piece of paper valuable.
But in the case of Bitcoin, this case is completely different. Because the value of Bitcoin is not determined by any government, nor by any bank. There is also no specific authority to regulate Bitcoin. The currency was first introduced in 2009, and has been around ever since, making it much more popular online.
At present 1 bitcoin is equal to 589 dollars. A few years ago, the price went up to 1,200. But since there is no authority, no government and no bank to determine its value, its value fluctuates (if the price of Bitcoin is stable now). You and I have confidence in this currency so we can exchange it with each other. The advantage is that if I want to send you some bitcoin, I can send it to you directly. Not that I have to go to any bank or send you through any authority. It is never possible to freeze your account and you can send this coin to whomever you want. No bank or ordinary currency can give you as many benefits as you can get. There are a lot of rules in bank transactions, which you must follow, but there are no rules for bitcoin.
Very informative article. Thank you.