What is bitcoins?
Bitcoin is a combination of two words bit and coin which is run electronically. Well; Bitcoin is crypto currency throughout the world and a digital payment system through which you can receive your payments. Its process is all electronically. Its coin is not a printed page like dollars, rupees, euro etc if they are generated by people and growing the business. They are mined by computing power in a distributed network. If you have money stored in your account anyone can tell you how much is stored but they don’t know that’s yours. Transaction fee of bitcoins is very low as compare to other banks. It is one of the fastest money transfer network, when you transfer money it will receive in few minutes. Once you send the money you can’t make a request to get back, it’s gone forever. It doesn’t need any bank or a person name .It was introduced by a group of people that are unknown and it’s the payment for drug dealer and illegal purchase as it is an anonymous network. The name of the group is Satoshi Nakomoto. People tried a lot to find out the founder but all in vain. Numerous people claimed that they are the founder of Bitcoin but that’s not confirmed. One claimed that he is the founder of bitcoins but he failed to proof this. Then he posted the apology massage on social media. The payments process is directly between the costumers without involving of a third party. Today the users of bitcoins are 5.8 millions as according to researched based on Cambridge University. You can also invest in bitcoins and get richer. I will explain it in this article to you people. Bitcoins is divided into two sub currencies the classic bitcoins BTC and the bitcoins cash BCH.
Block chain is designed to record payment history that is updated on time. This is kept y all users of bitcoins. The maximum amount of bitcoins which can be generated is under 21 million. Bitcoin runs on blockchain which decentralized ledge running by miners. Here the meaning of decentralized is there is no need of bank for transaction.
Bitcoin cash is another crypto currency in august 2017, the process of bitcoin cash is slightly different.
Price of bitcoins:
Every currency prices jump up and down and bitcoin has the case too. There was variation in price since 2013. That year prices rose by almost 10,000 per cent before the collapse of Mt Gox, the biggest online bitcoin exchange, sent it crashing.
Investment in bitcoins:
Bitcoin is one of the safe and secure site you can invest money for and get reward as it has given great reward and returns to some investors. Initially they offer few dollars ranging from $1100 in 2013. People who invested £2,000 maybe become millionaire or if it maybe $5 of bitcoins 7 years ago can make you $4.4 million richer. As the famous man said about bitcoin can’t be wrong. So for what are you waiting? Invest in bitcoin and get richer.
‘’ Bitcoin is better than currency’’
Another famous Billionaire businessman Wences Casares says
‘’ it’s not too late for people interested in Bitcoin’’