What is Bitcoin (cryptocurrency)?

Online shopping can be done in Bitcoin alongside with dollar or pound or euros. However, in other financial systems, such as the government and central banks involved, bitcoins are not. In 2009, Satoshi Nakamoto, a pseudonym or a group of software developers, introduced a new type of virtual currency. This type of currency is known as cryptocurrency. The cryptocurrency that Nakamoto invented is called Bitcoin.

Bitcoin transactions have no banking system. Online, there is a direct (peer-to-peer) Bitcoin exchange

 between two users. The method of cryptography is used to protect transactions.

The reason for the recent Bitcoin talks is inflation. Those who invested in Bitcoin suddenly increased their wealth by a few hundred times. But why is Bitcoin becoming popular? It can be traded without revealing its identity. On the other hand, the cost of transactions is very low. But the biggest reason is that investing in Bitcoin will be a few times the profit, a concept that many people have.

Bitcoin is gaining popularity in many countries, even if it is not recognized as a currency. As a result, central banks in many countries have been trying to formulate policies for Bitcoin.

Bitcoin's exchange rate has been rising in recent years. That means it is possible to buy bitcoins. Bitcoin fraction is known as Satoshi, in keeping with the inventor's name. One bitcoin is a satoshi.