What is Bitcoin?


SUBMITTED BY: Coolzy

DATE: Nov. 5, 2016, 4:53 p.m.

UPDATED: Nov. 6, 2016, 8:42 a.m.

FORMAT: Text only

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  1. Bitcoins in its pure essence is money. It is digital currency that serves the same functions and purposes as money. You can buy anything by using Bitcoins, even you can make online purchases and complete your transaction by paying as Bitcoins.
  2. Here are some Benefits of bitcoins:
  3. Freedom
  4. Once can send and receive money from anyone in the world
  5. No bank approvals needed
  6. No border or exchange restrictions
  7. Bitcoin gives you full control of your money
  8. Low fees
  9. Bitcoin transactions run on a distributed peer-to-peer network
  10. Computerized Work so No Employees needed
  11. Hence, less transaction fee
  12. Secure
  13. Mathematically secured
  14. Impossible to fake
  15. Transactions are irreversible and do not disclose any personal information

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