What is Bitcoin?
Bitcoin is the first decentralized CryptoCurrency. Bitcoins are digital coins you can send through the internet, compared to other alternatives bitcoins have a number of advantages. Bitcoins are transferred directly from person to person through the internet without going through banks. This means that the fees is much low, you can use them in any country, your account can not be frozen and there are no pre-requisites or arbitrary limits.
How it Works?
Several currency exchanges exist where you can buy and sell bitcoins for dollars, Euros and more. Your bitcoins are kept in your digital wallet on your computer or mobile device. Sending bitcoins is simple as sending an email and you can purchase anything with bitcoins. The Bitcoin network is secured by individuals called miners. Miners are rewarded with newly generated bitcoins for verifying transactions. After transactions are verified they are recorded in transparent public ledger. Bitcoin opens up a whole new platform for innovation. The software is completely open source and anyone can review the code. Bitcoin is changing finance same as web changing publishing. When everyone has access to global market great ideas can flourish. Bitcoins are a great way for business systems minimize transaction fees. It doesn’t cost anything to start accepting them as easy to setup.
Why Bitcoin is Future?
- New kind of Money which is completely decentralized
- Open Source, and can be electronically transferred all over the globe.
- Inflation proof ( 21 MILLION BITCOINS)
- Value of Bitcoin in 2009 = 2 CENTS
- Value of Bitcoin in 2016 as of today = $445 USD
- Approx more than 30,000 times in 6 YEARS
Who Uses Bitcoin?
It has been estimated globally, 27 Million merchants are accepting Bitcoin worldwide. More than 800 Bitcoin ATMS are installed. It is growing fast as more merchants accept it daily (it’s easy to set up). There are no chargeback and you get a digital business from the Bitcoin economy.