Created by Satoshi Nakamoto in 2008, Bitcoin is a cryptocurrency that is used to transfer the funds or confirm the transactions. Nakamoto explained the process of Bitcoin on PDF or whitepaper in 2008 and then left the development of the digital currency in the hands of developers. It is a first decentralized peer-to-peer payment network that secures the transactions between two users without any government, bank, and central authority.
The price of the Bitcoin is getting rising day by day, as it is an international currency that is accepted across the world. There are many ways of getting Bitcoins. Some of them include - 1. Mine – To get Bitcoins, you can start mining with leading mining companies, namely Hashgains, Genesis Mining, and Hashing24. You just have to purchase a plan and start mining.
2. Trade – You can get Bitcoins by trading. You can send your goods and services to merchants and ask them to provide Bitcoins as a payment.
Benefits of Using Bitcoin as a Payment Method –
• Lower transaction fees • Zero chances of fraudulent charge backs • Faster payments • No paperwork • Irreversible transactions • High exchange value • No third party involved • Mobile Payments • User Anonymity
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Despite Reservations About Its Potential, Cryptocurrency Is Thriving!
Born in 2008, with the bitcoin being the first open-source and widely popular cryptocurrency, the fad associated with them seems to have died down. Theirs is a story similar to that of the California