What is Bitcoin
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
Decentralized – The bitcoin network isn’t controlled by one central authority
Easy to set up – You can set up a bitcoin address in seconds, no questions asked, and with no fees payable.
Completely transparent – Bitcoin stores details of every single transaction that ever happened in the network in a huge version of a general ledger, called the blockchain. The blockchain tells all
Transaction fees are miniscule –Your bank may charge you a £10 fee for international transfers. Bitcoin doesn’t.
Fast – You can send money anywhere and it will arrive minutes later, as soon as the bitcoin network processes the payment.
Secure – Strong cryptography- Bitcoin verifies transactions with the same state-of-the-art encryption that is used in banking, military and government applications.
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