Today bitcoin is most talked digital currency in the world. Bitcoin is the most fascinating and new age currency that exists only online and allows the users to maintain anonymous identity. Even though bitcoin getting its popularity many find difficult to understand. People who have never heard about bitcoin thinks it is suspicious and dangerous. As the day passes people will understand the value of bitcoin and starts investing. You can use free btc for buying goods and services.
Bitcoin came into existence in 2009, which is developed by Satoshi Nakamoto considered as the pseudonym person. This person published the paper on how bitcoin works, and later it started trading and mining.Unlike traditional currencies, bitcoin has the following features:
- Decentralized network: One of the main reasons that bitcoin is being used by people is the lack of middlemen and fewer transaction fees. There is no Government or banks controls the supply of currency.
- Digital: There is no physical form bitcoin an there are no bills regarding the transactions. The currency exists only online, and no one could track the details. Blockchain technology is used that gives the history of each Bitcoin.
- Anonymous: All your transactions made with the help of wallet and no personal information is required.
Buying a bitcoin also have various options you can buy bitcoin with credit or debit cards or hard cash. But before buying, you have to establish a wallet. Only from that, your ID derived that used for transactions. A bitcoin wallet is a place that used to store, just like you use a wallet to store cash and credit cards. When considering wallets it also has options to store both online and offline. When you use software wallet to store bitcoins you have to back up your computer regularly, and there is no long setup procedures is required.
