What is bitcoin?

In 2009 a new form of currency was introduced to the internet world. Bitcoins can be used as a reward, payment for goods and services. As of 2017 there is an estimated 5 million users of bitcoin.

The advantages of using bitcoin are the following. Bitcoins is decentralized therefore is does not go through the central bank making it more stable in value. Unlike your typical cash currency it is not greatly influenced by domestic and foreign currency making its value more stable. Moreover bitcoin exchanges is more seamless being its main means of exchange is peer to peer. While at the same time being maintained at the backend by a ledger.

Bitcoins popularity as a new form of currency is a steady climb as more netizens are coming to realise it’s value.