Bitcoin is a cryptocurrency and worldwide payment system.It is the first decentralized digital currency – the system works without a central repository or single administrator. The network is peer-to-peer and transactions take place between users directly through the use of cryptography, without an intermediary.These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.Bitcoin is generated by mining. Bitcoins can be converted into any currency forms like dollars , pound sterling,etc. It is surveyed that now almost 4-5 million users are using cryptocurrency.
The way the price of bitcoin is increasing it is estimated to reach double its price by last of this year
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