Friday, 22 December 2017

Bit coins basic details

Bitcoin is the cryptocoin currency ever invented.bitcoins is a basically a virtual currency which is developed by SATOSI NAKAMOTO in 2009.
Advantages of bitcoin is that it can be stored on a person's local hardware,this process is called cold storage and it protects the currency from being taken by others.
when the currency is stored on the internet then our currency is in high risk of it being stolen.


Bitcoins are completely virtual coins which is designed to be self-contained for their value,because they no need for banks to move and store the money.Once you own bitcoins, they behave like

physical gold coins: they possess value and trade just as if they were nuggets of gold in your pocket. You can use your bitcoins to purchase goods and services online, or you can tuck them away and hope that their value increases over the years.

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