Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. Bitcoin is a cryptocurrency and worldwide payment system.It is the first decentralized digital currency, as the system works without a central bank 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 is a digital cryptocurrency which can be stored in wallet, its just a alpha-numeric one, if its lost we can recover it easily and it can’t be hacked too. If a person has large number of bitcoins they can store it in a locker as well. Person using bitcoins should be technically knowledged to use this bitcoin further.
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