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What is Bitcoin and how to buy it?

 


As time passed people found it dangerous to walk around with the bars of gold or money so a pseudonym was Satoshi Nakamoto came to rescue people from this situation. He came up with technology with a virtual coin called Bitcoin in the year 2019. Bitcoin was then based on the technology called Blockchain where people can store coins and it helps them to maintain ledgers. 


Cryptocurrencies are all decentralized which means that it is out of the reach of Government and law and hence Government of the certain nation does not support this in order to maintain law and order. Fiat money which is the dollar or a euro or any other currency has two major drawbacks:-

  1. It is centralized which means it is handled by the government or the bank.

  2. Another drawback is that it is unlimited which makes its worth lesser with the more amount it is created. 


Bitcoin is accepted by Microsoft, Wikipedia- The Free Encyclopedia, you can confirm your flights on Expedia and it even has its own Bitcoin Debit Card. one can even buy Bitcoin with Amazon Pay but people still need to understand the importance of such technologies.



Cryptoknowmics

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