July 07th, 2024

What is bitcoin cryptocurrency?

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Akshat Gupta
3 years ago Selected
The bitcoin cryptocurrency is the first global decentralized currency created for the digital world. It can be used anytime and anywhere. With the help of this, a person can send money to any other person anywhere without the help of any third party and bank. That is, you can send money from your bitcoin wallet to another person's bitcoin wallet.

For this, you have to pay only two and a half sends (ie 1 rupee 67 paise). It is a kind of digital currency, which is created and regulated with the help of electronic system.

This is a very fast way to transfer money. It is just a process between two people, so no third person is required in it. This is not a printed currency. It is prepared by the people themselves. In its transactions, money comes in the form of codes in your bitcoin wallet.
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Mansoor Ahmed
3 years ago Selected
Bitcoin is a decentralized digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious and pseudonymous Satoshi Nakamoto.12 The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms do, and unlike government-issued currencies, it is operated by a decentralized authority.
Bitcoin is known as a type of cryptocurrency because it uses cryptography to keep it secure. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to (although each record is encrypted). All Bitcoin transactions are verified by a massive amount of computing power via a process known as "mining." Bitcoin is not issued or backed by any banks or governments, nor is individual bitcoins valuable as a commodity.
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