Bitcoin is a digital currency which is popularly known as cryptocurrency and is not controlled by any government. This operates on blockchain technology, a digital public ledger and is shared by anyone in the world.
Whenever you do any trading you can see your transactions and this ledger is used to check it. All the transactions are fully transparent and blockchain verifies them. Bitcoin is a fantastic technology that relies on computer networks in order to solve mathematical problems. It can also check and register the details of each and every transaction.
It has a lot of pros than any other currency in the world. You can send money faster via digital currency over a bank transfer. You can send them to someone and receive those coins in seconds. Having a bitcoin account, you can exchange, do business, receive and stock bitcoins. You are able to send it to, request it from and store it in the bitcoin wallet.
There are three ways to make money through bitcoin: savings, trading, and mining. This digital currency can be traded in open markets, which means one can buy it for less and sell at higher rates.
Transaction cost is low as compared to any other payment methods. Sometimes, your privacy may get leaked when you use credit cards on the internet. But it is not possible in the case of bitcoins, as they are secure and the coins cannot be seized or stolen. The transactions can be verified at any time from anywhere.