Reachschools

Bitcoin is a decentralized digital currency that is not owned anyone. Bitcoin uses peer to peer networking and cryptography to operate the system. The system is controlled systematically after they are validated by evidence of a working system.

This network began operating in 2009 and is a concept that involves a virtual currency that does not have a link to the currency of a particular government. Bitcoin system has several advantages such as:

• It is cheaper because it uses virtual money.

• Can be quickly transferred around the world and there will be no transaction fee.

• Like other currencies, the amount of virtual money is fixed and no one has the right to create new Bitcoins. However, one can zoom in Bitcoins but there is a limit to it and mining Bitcoins are not cheap at all.

That is a bit about Bitcoin. If you still want to know more about Bitcoin, up to date information is here.