Most people don’t know what bitcoin or what cryptocurrency is? It might feel the very mysterious or difficult thing to understand, but on the ground, it is a peer-to-peer cash system. It is a digital currency hence cryptocurrency. It can be sent to anyone, and anyone can receive it even if the other person is in another country. All the process is done on the internet and by the security line, so the network is quite large and the involvement of the internet automatically eliminates the middlemen, or any intermediates. As it is a digital currency central administrator has no control over it. Bitcoins are also called as BTC making it short and easy for the users to use such short and fancy words for money.
How does it work
BTC is simple but can be confusing if you don’t understand how it works. It works on the principle of blockchain technology. Meaning before transferring bitcoins to anyone it is first verified by the system and then makes an entry in the ledger about your transaction.
How to buy BTC or bitcoin
There are various ways in which you can buy bitcoins. You can buy it from the user for the exchange of real money or anything. But though the simplest way to buy BTC is to buy it from the bitcoin exchange or online marketplace where the enthusiasts buy and sells bitcoins. An interesting fact about Btc is that it’s market value is very flexible and versatile in other words, it can change from time to time.