What is Bitcoin

What is Bitcoin?

Bitcoin is a cryptocurrency or digital money, its also a kind of online bank account, however it does not require a trusted central authority.

No-one controls it, Bitcoins are not created at the discretion of government, unlike Dollars, Pounds, Euros etc.

Bitcoin are hidden in a series of complex mathematical problems which get harder and harder to solve as time goes on.

This mathematical problem are solved around the world by a series of computing all competing to solve the problem and in turn are rewarded Bitcoin, this is called Bitcoin mining.

Bitcoin is the first example of a growing category known as cryptocurrency and it was proposed by a software developer known as Satoshi Nakamoto in 2009.

Transaction are made with no middle man, meaning no banks are involved, transactions are made with little or no transactions fees and are virtually instant.

More merchant are accepting bitcoin worldwide, small businesses enjoy Bitcoin because there are no credit Card fee, alternatively, people buy and hold bitcoin s an investment or a form of value.

Bitcoin can be bought and held at Bitcoin exchanges which allow people to buy and sell Bitcoin using different currencies and can be held in an online/digital wallet on your cellphone, laptop or home computer, allowing you to access your bitcoin in any location around the world at any time.

Also, your Bitcoin can be held offline in a ‘paper wallet ‘or on cold storage wallet which are protected by your own private key. (Refer to the wallet section of this page).

There are both advantages and disadvantages with Bitcoin these are covered in the FAQ section on this website which we urge you to read and digest fully before making any form of investment in Bitcoin, whenever you wish to buy your own Bitcoin or wish to become an investment partner with us.

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