Bitcoins (BTC)
Bitcoin, often called the first cryptocurrency, is a decentralized digital currency. It has been invented by the software developer called himself Satoshi Nakamoto (the real person behind the name "Satoshi Nakamoto" seems to be a cryptograph specialist, former NSA employee). "Satoshi Nakamoto" published his invention in 2008, October 31th in the research paper "Bitcoin: A Peer-to-Peer Electronic Cash system".
Bitcoins are not printed like dollars, euros, or any other currency (fiat currency). It is not based on gold or silver but on mathematics. |
There are several major differences between Bitcoin and traditional currencies (fiat currencies, e.g. USD):
There are several major differences between Bitcoin and traditional currencies (fiat currencies, e.g. USD):
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The increasing popularity of Bitcoin among technology enthusiasts has pushed large corporations and global brands to acknowledge the advantages of the cryptocurrency. Even companies with billions of dollars in annual revenue, like DISH Network and Dell Computers, are embracing the on-going cryptocurrency revolution.
By accepting Bitcoin, businesses can instantly boost their bottom line by as much as two percent. Because compared to the two or three percent transaction fee charged by credit card companies like Visa and MasterCard, Bitcoin merchant service providers charge a negligible fee. As an example, on 2014, March 1st the minimum Bitcoin transaction fee was only 0.0001 or $0.055 cents when converted to US Dollars.
The estimated number of Bitcoin users will reach 5 millions active users by the end of 2019, comparing to 1.3 millions in 2014.
By accepting Bitcoin, businesses can instantly boost their bottom line by as much as two percent. Because compared to the two or three percent transaction fee charged by credit card companies like Visa and MasterCard, Bitcoin merchant service providers charge a negligible fee. As an example, on 2014, March 1st the minimum Bitcoin transaction fee was only 0.0001 or $0.055 cents when converted to US Dollars.
The estimated number of Bitcoin users will reach 5 millions active users by the end of 2019, comparing to 1.3 millions in 2014.