Bitcoins for Layman

Bitcoin is digital currency which is not yet certified by government or central bank of any country in whole world. It was created by a mysterious person or group known as Satoshi Nakamoto in the year 2008. His presence and existence is secret. Present worth of 1 Bitcoin is 13481 $ which is many fold increase compared to last year. Bitcoins does not have any coins or physical currency associated with it. It is a crypto currency. Bitcoin are long strings of numbers and letters. It is a Peer-to-Peer Electronic Cash System. That means Bitcoins are sent from one person to another without going through banks or other middlemen and thus one can save multiple transaction fees.

Whenever there is a fault or shortcoming in a system another new improved system takes its place. Paper currency has its demerits too. Hence we need new currency system. Crypto currency seems to be one such system which has ability to replace paper currency if Government start accepting it as legal currency.

If you have extra money to invest and you are not afraid of losing it but willing to take risk for huge gains, then Bitcoin is good investment opportunity. It is easy to purchase and store using different websites. Bitcoin might emerge as a currency of future. In last few years its value has increased tremendously.

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