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What is BitCoin? Lets Analyze This Cryptocurrency

What is BitCoin?

what is bitcoin

We are living in life where technology now has been the most powerful thing that everyone should see and update. Back then when we were in 90 or 20s, banking was viral, and everyone praised how bank turned out to be the best money transaction and investment place. Now everyone seems to be up to date on how Bank now has been the basic but not the only one place to save money. As we have been living in a world where technology is number one, we now have seen many options to save our money, to invest our income in better place. In the virtual world, there are many ways to invest and save your money well in an account. If you have ever heard about cryptocurrency, you may have seen Bitcoin. What is that? It is a virtual currency that you can buy it with your current money, it has no physical appearance, and it is not from a country. This is just a virtual currency that only exists in file form. Those files are encrypted codes that make them different from one coin to another. As it is like a file in common, you can save it in Bitcoin Digital Wallet and social cloud.

Short explanation about BitCoin

If you are asking how people around the world knows this currency, you are right to be here. Bitcoin has been viral and famous in the world where everyone that has been working or running life in the virtual world has known about BitCoin Some countries blocked BitCoin, and some countries keep calm and letting people do their business with BitCoin. Several countries that ban Bitcoin is China and Singapore because they think that BitCoin can harm the stability of online transactions in the countries. If BitCoin is changed into USD, some people believe that 1B is equal to $195. The currency will change every time because many people have had BitCoin and people will keep it and see the updates of BitCoin seeing the currency has been common in an online transaction. Now, there have been more than millions of users on the internet that have used BitCoin for online transaction. It is at least 21 millions of BitCoin has been spread in the world, and 25 BitCOins are spread every minute in countries around the world.

The most common thing that might happen when there have been almost all people use BitCoin, then it will be easier to have an online transaction, but when there are just a few people, it is hard to claim that BitCoin is good and nice to try. It is indeed simple and fast and yet there is no third party that can interrupt the transaction using BitCoin. You can see how your transaction only needs seconds to be sent as long as you have good internet to transfer, and moreover, you don’t need to wait for the confirmation from the third party because the notification will be sent directly. But, as there are many benefits in using BitCoin, the worst possibility when it’s too much is that when there are some people that are finally ending their trust in BitCoin, several years later, BitCoin may have been a bunch of crashes.