◆ Bitcoin is a digital technology, it is a decentralised transaction i.e, peer to peer file sharing without a controlling authority in middle. It was created in 2009 by satoshi Nakamoto.
◆ Bitcoin could exist in :- The cloud, on a user's computer & in form of expandable storage
◆ How do Bitcoin work?
• Download the software on the computer or phone
• software will generate unique address
• people can lay through this address
• You buy Bitcoins with offline currency then funds are added to your digital wallets
• Bitcoin network authenticates transactions
• You may how use bitcoins to pay offline
◆ Where can I buy Bitcoins?
• at - Bitcoin exchanges :- (Like kraken , coinbase etc.) Using different currency
• person to person transfer : using mob app or computers
• Mining bitcoins : using computer to solve complex math puzzles
◆ some key advantage of Bitcoin
° Transactions are easier & cheaper & also unregulated
° No transaction fees
° Transparency
° Anonymity
° No credit card fees
◆ Disadvantages
° Since have Anonymity, hence can be used for terror financing & other illigal fundings
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【Thank you】😊
