At the moment there are many currencies form different countries and they are called as the fiat currencies. The other currency that does not come under the regular currency group is called at the crypto currency as it is not real currency but a special currency which is not under the general circulation but is used between the peer group that uses the currency within the circle and the group. The currency can be exchanged for other fiat currencies only within this peer group. They do not use any banking system for this currency and it is dealt with in a different way totally apart from what the regular banks carry out the transactions. The transactions are stored and saved and registered in the system called as the block chain which is nothing but the entry of the transactions that have taken place between these different users of the bitcoin. Those who want to deal in the crypto currency have to first start with becoming aware of the current situation and the bitcoin price so that you can be sure of what you are getting into. The bitcoin is the first crypto currency to have originated and it was invented in Japan by an individual named Satoshi Nakamoto the reason why we have the bitcoin with us as an alternate or crypto currency.
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Bitcoin over the years…
- If you want to have a clear picture of the history of how the bitcoin was in trend then d to go back to beginning of the birth of the bitcoin.
- It was designed in the year 2011 and the price of the bitcoin was around 0.30 USD and this has changed over the years and sometimes it would shoot up very high and in the middle of this decade it has also seen a great dip in its price but the previous year of 2019 to 2020 has seen that it has again gone up so high as to reach about 3000 USD which is the highest so far.
- There are so many advantages of using the bitcoin as it does not involve any taxation for the purchases that you make, it is used only in a small group and the bitcoin price can be used equivalent for the currency of your choice within the group..