Featured image by Aleksi Raisa from Unsplash
When you hear the word Bitcoin you might think of the image of a gold coin on the internet with the letter “B” on it. Unfortunately, Bitcoin is nothing like that. It is a digital currency. So, Bitcoins do not have a physical existence. This cryptocurrency is also famous due to various controversies. However, the leading cause of its prominence is its enormous market value which is currently $60,950 and is continuously growing.
What Is It and How Does It Work?
Bitcoin is a cryptocurrency that was first brought into the market in 2009 by an unknown man or a group of people with the alias Satoshi Nakamoto. The purpose of this digital currency was to provide the option of making transactions with a smaller transaction fee compared to other physical or online transaction methods, such as banks. However, it is now being considered an asset due to its outrageous market …