Also known as an alternative currency, a cryptocurrency is used by people worldwide and is not regulated by any national government. The fact that this currency is a financial exchange existing outside the limits of any state monetary policy makes it very empowering and popular.
Money has seamlessly changed forms with passing years. Starting from gold coins, the money took the forms of paper bills and proof of credit. These forms can be physically different from one another, but they are still backed by governments. Legal tenders majorly constitute fiat currencies that are governed by officially established monetary systems. However, in 2009 came the bitcoin—a new digital currency that was not backed by any bank or government but was created using a computer code.
A quick and short introduction to BITCOINS
Since 2009, Bitcoin has been a buzz-word in the virtual economy. Its value has always surged, and at one point of time, 1 Bitcoin equaled $3,000 right after the launch. Quite surprising, isn’t it?
But, the irony is that there are yet many, who have no idea of ‘what exactly Bitcoin is.’ This article enlightens you, as to what Bitcoin is and how it can be your next great investment.