What is bitcoin?

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Bitcoin was created by Satoshi Nakamoto in 2008 but was launched as open source software in 2009. Big companies have adopted bitcoin as an exchange. Like – Microsoft, Tesla etc.

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Bitcoin is used for online transactions. It works on P2P network. Online developers do it for online transactions by NGOs.

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Bitcoin is not recorded in the public ledger. It cannot be tracked. The exchange is taking place between any two persons. Its record can be seen only twice.

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Bitcoin is a digital wallet. Its price is not the same everywhere. The price of bitcoin is volatile, it depends on the activities around the world.

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Bitcoin was introduced in 2011. For this, the user has to first create an account. After email confirmation and account verification, you have to select the trading method.

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In 2013, RBI had said that it is not officially permitted, but there are some risks involved. If you forget your password you will lose your money forever.

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The rate of bitcoin has no control over its authority, so its price keeps on increasing and decreasing according to the market almost daily.

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