The Future of Payments
To summarize, bitcoin is a cryptocurrency that was created in 2009 by an unknown person or a group of people that were using the alias known as Satoshi Nakamoto.
Bitcoin’s network allowed transactions to be made without the need for a middle man, which meant that no banks or centralized parties were involved with the transactions.
Bitcoin can be used for many transactions, such as booking flights, paying bills, and even buying goods or services, and has been adapted by services such as PayPal in recent years.
The main appeal of bitcoin is the anonymity associated with it, as well as the fact that international payments are easy and cheap due to the fact that bitcoins are not tied to any specific country or subject to any regulation.
Small businesses like them due to the fact that there are no credit card fees and many people enjoy buying bitcoins as an investment in the hopes of it going up in value.
Bitcoin can be bought, sold, or traded in a marketplace known as a bitcoin exchange. These exchanges allow people to buy, sell or trade bitcoin through the usage of different currencies.
Binance is the leading exchange, followed by Dsdaq and Hydax Exchange. Bitcoin can also be mined, although mining rigs are extremely expensive and typically use up a lot of power.
The truth of the matter is, traditional governments are terrified because Bitcoin and other coins are the future of currency.