Bitcoin: what is Bitcoin, how to works, price, mining and buy- Bitcoin is a digital currency that is completely decentralized. You can buy, sell and exchange bitcoins directly. For this, government institutions like banks are not required. Bitcoin is a type of money that is fully virtual, hence bitcoin is also called virtual currency. Bitcoin, however, is similar to an online version of cash.
You can buy products and services with bitcoin, but many organizations do not yet accept bitcoin. Also, some countries have banned bitcoin altogether. But now gradually some countries like India have started recognizing this cryptocurrency. Now many such organizations have started appearing in India, which buy and sell bitcoins.
Bitcoin: How Does Bitcoin Work?
A bitcoin is basically a computer file that is saved in a ‘digital wallet’ app on a smartphone or computer. Bitcoin is built on a digital record called a blockchain. A blockchain is a linked body of data, which includes the date and time, the total value of bitcoin, the buyer and seller of bitcoin, and a unique identification code for each exchange.
Bitcoin is fully decentralized, which means that bitcoin cannot be controlled by any organization. Although people can send bitcoins in their digital wallets to anyone, they can make purchases with it.
Bitcoin: Bitcoin Price?
Bitcoin was publicly launched in 2009. Since its launch, the price of bitcoin has increased tremendously. Right now the price of bitcoin is more than $62,000. It is for sure that the price of bitcoin will increase continuously in the coming times.