Bitcoin | What is Bitcoin ?

 

What is Bitcoin?

Bitcoin is a crypto currency. Bitcoin inventor is unknown. Bitcoin invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software. 

What is Cryptocurrency?

A Crypto Currency or Cryptocurrency is a Digital asset desined to work as a medium of exchange.

More about Crypto currency :

What is Bitcoin and how it works?

Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. (Source BBC)

Peoples can send Bitcoins to each other. Every single Bitcoin transaction is recorded in a public list.

Can you convert Bitcoin to cash?

There are several ways to convert Bitcoin to cash. You can sell bitcoins no a Cryptocurrency exchange. This is the easiest method if you want to sell bitcoin and withdraw the resulting cash directly to your bank account.

Is Bitcoin safe and legal?

Tax laws are the area where most people are likely to run into trouble. For tax purposes, bitcoins are usually treated as property rather than currency. Bitcoin is generally not considered legal tender.