In this article “10 Facts about Bitcoin that you need to know” we are going to delve into the basics of Bitcoin.Let us discuss these facts one by one:
1.Bitcoin,is a digital currency , that has mainly two uses :
a) as a medium of exchange ,
b) as an investment asset.
2.Bitcoin was initially meant to act as a medium of exchange but as the cryptocurrency markets and cryptocurrency exchanges developed more and more, Bitcoin began to be seen as an investment asset.
3.Bitcoin has its fair share of risks like fraud, theft , volatility etc.
4.Bitcoin is based on the bitcoin blockchain.
5.Bitcoin transactions are not anonymous, they leave a digital trail.
6.Buying and Selling of Bitcoin is done through cryptocurrency exchanges.
7.Payment through Bitcoins is done through cryptocurrency wallets.
8.Due to its highly volatile nature, Bitcoin is not considered a safe investment.
9.Speculators can put money into Bitcoins, provided they can survive in case of total loss of invested amount.
10.Rules and Regulations regarding Bitcoins vary on the geographical jurisdictions.
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Want to learn more about Bitcoins , then visit https://en.m.wikipedia.org/wiki/Bitcoin
