Sunday, 6 April 2014

Know more about Bitcoin

Bitcoin is a digital currency also known as virtual currency or cryptocurrency because of cryptography is used to control its creation and transfer. conventinally "Bitcoin" refers to the technology and "bitcoin" refers to the digital currency.introduced in 3 jan 2009 ,5 year ago. 

bitcoin is opensource .Nobody owns it ,the most popular client is maintained  by a community of open-source developers. 

You can Send bitcoin from your computer ,tablet ,smart phone or from any other device to anyone anywhere in the world 24X7.

bitcoin verifies transactions with the same state-of-the-art encryption that is used in military and government applications. 

Using the bitcoin network is free, except for a voluntary fee you can use to speed up transaction processing. 

Bitcoin as a form of payment for products and services has seen growth, and merchants have and incentive to accept the currency because transaction fees are lower than 2-3 % typically imposed by credit card processors. The largest purchase using bitcoin as of March 20 ,2014 was payment for buying villa in Bali worth over $ 500,000.

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