In recent times, the term bitcoin and crypto currency have quickly gained their popularity among general public. In the era of internet, digital is playing a crucial role and it has created a great impact. Before knowing its influence, we have to know what bitcoin and crypto currency is as well. Cryptocurrency is nothing but electronic money which will not be printed like normal currencies and does not regulated by central authority. Bitcoin is the first ever created crypto currency and was created in 2009 by Satoshi Nakamoto.
This digital money can be accessed with the help of internet and can be transacted using digital wallets which are software application that could be downloaded on any of your devices like mobile phones or tablets. Cryptocurrency can be created by mining process and people who process mining is called miners and one can also get it in numerous ways like in exchange of other currencies, goods or services. Nowadays, many businesses are accepting this type of cryptocurrency transaction and this made it to see a great success.
There are numerous reasons to use this currency are they are
- It can be converted to other currencies and this process takes less than an hour.
- One can transact bitcoins from any part of the world and it does not involve any transaction fee.
- The bitcoin price has been increasing daily as there is only limited number to be mined and is compared to gold.
People who are accepting this type of money which does not exist in physical form but has digital value are growing every day.