Working concept of bitcoins: The first digital money

Bitcoin

Bitcoin is a cryptocurrency that is considered as the first digital money in the world. It is a virtual currency and has been born in the year 2009 by the Satoshi Nakamoto.

The best part of using bitcoin is that you can transfer the money directly to a person on the internet without any intermediate or central bank. You can buy and sell anything. It provides an easy and cheap transaction across the globe.

You have to store bitcoins in a place called digital wallets similar to a bank account which can be placed in a laptop or in any third party website or on your mobile phone. The transactions are done in the cloud network which is secured by some persons called the miners.

Bitcoin can be used anonymously, means your real identity will be unknown always. Also, the government of any country has no control over it. Bitcoin established a new way of innovation in the world.

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Michael Testa

I am Michael Testa working as professional blogger. I write content for various blogs, websites and social media. If you are looking for guest posting on your blog, feel free to contact us via this page.

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