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What Is Bitcoin: Is It Safe To Use Bitcoin and Other Crypto

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WHAT IS BITCOIN

What is bitcoin? well Bitcoin is an online payment system invented by an anonymous user ‘Satoshi Nakamoto’, who published his new invention in 2008 and released as open-source software in 2009. This gave birth to the blockchain technology and all the new digital Crypto coins such as Etherum, Zcash, Monero etc.

Read Also: What Blockchain Technology is and How It Works

The bitcoin system is a peer-to-peer system, users can transact directly with each other all over the world almost instantly. There is no need for a third party or an intermediary such as a bank, Western Union, Moneygram, PayPal or any other company.

The bitcoin system works without a central repository or single administrator, so is the worlds first decentralized digital currency, and it is the largest of its kind in terms of total market value. There is no company or entity controlling bitcoin.

Read Also: Crypto Trading Security: Cryptocurrency Trading Community Overcomes Security Concerns

WHY SHOULD I BECOME INVOLVED IN CRYPTOCURRENCY?

1. The currencies are not regulated by any central governing body.

2. World leaders like Richard Branson and Bill Gates are involved in Bitcoin and other cryptocurrency.

3. Everything in the world has become digital, except currency! Digital currency like bitcoin is the future of currency.

4. Cryptocurrency are an alternative investment which offers exponential returns

WHY YOU SHOULD OWN A WALLET

1. Bitcoin wallets gives you an opportunity to safe money in the form of
bitcoin

2. The rate of bitcoin is expected to hit $40,000 by close of the year

3. You can use your bitcoin wallet to purchase goods anywhere in the world.

4. You can exchange your bitcoin for physical cash in any currency at anytime ( in Zimbabwe we actually have a bitcoin ATM)

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