Bitcoin (BTC) is a digital currency – cryptographic keys – that is decentralized in a network of computers used by users and miners around the world and not controlled by any organization or government. This is the first digital encryption received public attention and is accepted by a growing number of merchants. As in other currencies, users can use the digital currency to purchase goods and services on the Internet, as well as some physical stores that accept it as a form of payment. Currency traders can also trade Bitcoins in Bitcoin exchanges.
Bitcoin Wallet
To use Bitcoin, you need a wallet, special software, in which you store, send and receive bitcoins. There are three types of wallets, software wallets, mobile wallets, and web wallets.
Software wallets are installed on your computer, and they give you full control over your wallet. Mobile wallets are installed on a smartphone or tablet and allow you to use Bitcoin for daily transactions in stores and supermarkets by scanning the QR code. The web wallets is located in the World Wide Web, that is, they are a form of cloud storage.
The Future of Bitcoin
Bitcoin is a new technology, because the price has been volatile, but recently it has become more stable with the growing community of users. Bitcoin is seeing the number of transactions reaching 100,000 per day. While banks and big business still need to consider whether Bitcoin is a threat or opportunity, there is no doubt that they are beginning to relax and notice this new digital currency, which continues to increase the user base every day.
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