Bitcoin is no less than an addiction! People who know about cryptocurrecy and who have been using from very long knows that the currency is completely decentralized and no one regulates it. Hence, one can earn them and use them for international trade. In this article you will get to know about a bitcoin called bitcoin and how can you earn bitcoin.
Bitcoin is the payment system which is used worldwide as it is a cryptocurrecy. No one knows that who was the person behind the formation of bitcoin but it is said that bitcoin was created by a group called ‘satoshi nakomoto’. The currency came into existence in the year 2009 and since then people are drooling over it.
But do you know why bitcoin is so special? It’s because there is no regulatory body for bitcoin i.e. No organization or no individual has control over the bitcoin. If you want to make any transaction through bitcoin, you can make it directly to the account of the person with whom you want to make transaction. As there is no regulatory body for bitcoin, the chances of theft and fraud increases even more and that’s the reason that even bitcoins have go through the verification procedures. Whenever you make transactions, your bitcoin and btc price passes through network nodes where it gets verified with the help of cryptography. However, even the procedure of verification is completely free and decentralized because the currency automatically gets verified as soon as enters in the block chain. This is one of the main reasons why government is against the use of bitcoin. Government cannot impose any taxes on bitcoin or that can they print it or trace it. Bitcoin does not give any benefit to government; this is the reason why people love it even more.