BTC – The Best Way To Make Online Transactions
Have you ever heard of Bitcoins? Well, BTC is just another name for it. When it comes to the safety and security of online transactions, Bitcoin is the first thing that comes to everyone’s mind. It is a cryptocurrency that was invented by Satoshi Nakamoto in 2009, to maintain a common currency for every country and to make the transfer of money easier and secure.
How does BTC work?
BTC follows a peer-to-peer or blockchain technology, which means there are different systems or nodes in the bitcoin network, but there is no central node.
- A bitcoin is like a file stored in a system by a person who owns it in a digital wallet.
- When one node shares the file with other another node, the transaction is recorded in a list called blockchain.
- The transaction is immutable, and the transparency is made available to the users, preventing the cases of cybercrimes.
Can Bitcoin be converted into real cash and vice versa?
Like all other currencies,Btc can be converted to any currency you want and the vice versa is also applicable, but the value of 1 Bitcoin differs for different currencies.
You can probably earn Bitcoins with the help of Bitcoin mining. In Bitcoin mining, you need to set up a powerful computer which can solve difficult sums and then as a reward, a bitcoin is given to the owner.But, it may take years or more to earn a bitcoin in this way. Bitcoin has a long way to go in the coming future!