Before we learn about Bitcoins it is more important to know about cryptocurrency. Crypto” the word itself means to hide and currency together means “hidden currency”. So Bitcoins are a form of cryptocurrency or in simple word, we can say that it is just like rupees, dollar, pound,etc in the global currency.
What is Bitcoin?
In simple words, Bitcoins are a form of digital currency that is used over the world but may not be accepted globally because it is not in surface use because it is not granted by any central bank and it is decentralized. It is mainly used under the web transaction ad it is having a different transaction valuation than normal rupees like 1 Bitcoin is equal to 505,682.29 Indian Rupees. The Bitcoins services are entirely based on the software build by a group named “Satoshi Nakamoto” in the year 2008 mainly for a procedure called “mining” and the entire process was on work from the year 2009.
Purpose of Bitcoins
Bitcoins were created mainly to serve the purpose of the procedure called mining and as the entire system was not central bank recommended and decentralized therefore the transaction of huge amount was much easier than the surface transaction processes and as the process was software encrypted therefore the total transaction was safe and could not be read by the viewer.
Bitcoins are in popular usage but not to the surface users rather than the people who are in need of it. If you wish to see the price of 1 btc to usd then it’s quite an easy thing. You can just make an internet search with the same frame.