How many of you are aware that Bitcoin is a currency?
Bitcoin is a Cryptocurrency or also known as a Digital Currency that is llegal in Europe, US and some countries in Asia. Bitcoin was invented by some unknown programmer called Satoshi Nakamoto and was introduced 8 years ago, on 3rd January 2009.
In 2011, the price of one Bitcoin was $1.00 and later by July 2011 it went up to $9.21. November 2013, it had reached a record high price of $1,242 at Mt. Gox Exchange and it took almost 3 years for Bitcoin to reach its $1000 mark again.
As per Coindesk, the starting price of Bitcoin today was $2552.81 and as of now it is $2,640.93. A 3.45% growth was seen today. It would need to top $2,799 to be the best price of all time and bitcoin traders are eagerly waiting for that moment.
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How is Bitcoin different from other currencies?
Bitcoin is a peer to peer transaction system and there is no intermediate body like Banks or government that governs this transactions. That means you can transfer your Bitcoin to any other person’s Bitcoin wallet located in any corner of the world. A restriction free transaction and no need for currency conversion as Bitcoin is a digitally accepted currency worldwide.
Most of the Major companies have started accepting Bitcoin as a payment and those includes Microsoft, Paypal, Neteller, Russia’s online retailer Ulmart, etc. Japan has now declared Bitcoin as a Legal Payment Method.
If you wish to Buy, Sell or Accept Bitcoin Payments in India, you can use Unocoin, India’s most popular bitcoin company. Go check it out to know more..
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