A bit coin is a virtual currency invented in the year 2009 by Satoshi Nakamoto. Among various crypto currencies in the world, it is most popular between the peoples. A crypto currency is basically a digital asset which is generated to play the role of virtual money exchange to protect the transactions on a journal and is viewable publicly. Bit coin is an electronic currency system between peer to peer.
This digital currency has no administrator, bank or any authority to control. You can receive or send it worldwide by a peer-to-peer network system. The give and take of this crypto currency can be done with any mediator. Bit coin is also signified by the symbol BTC and it is the most valuable crypto currency in the world. A rewarded scheme found in the form of an app or website and works to distribute prize is known by the term bitcoin faucet. When the user completed his task in return he is rewarded with Satoshi which is one hundred millionth value of a bit coin.
They have no physical existence in the world, only found as electronic cash on the public ledger. You can also that it is an online form of cash. They facilitate you in buying products and services somewhere but still some of the countries in the world not adopted it. Bit coin is a file of computer-stored in an app named “digital wallet” on your PC or smartphone.
Blockchain Knowhow
People can send or received Bit coins in their digital wallet, whose transactions regularly updated in public lists, which is known as a blockchain. This helps to make a history of bit coins to halt a person from an expenditure of coins that do not belong to them.
