Bitcoin -- what to tell your friends?


#22

Bitcoin is here to stay because it has almost worldwide adoption and popularity. It’s difficult to explain what bitcoin is and why people want it because it doesn’t have a physical form, only a cryptographic code. Well, digital money desined that would be used as an alternative method of payment to fiat currencies. However, the difference lies in the fact fiat money and its value is controlled by the central banks and governments, while bitcoin is decentralized and has no authority that controls it. Bitcoins are issued by ordinary people worldwide with the help of special equipment. Those who don’t have such equipment can easily buy it on one of the numerous crypto exchanges. But choose fiat-to-crypto exchanges like CEX, this platform allows you to exchange fiat money to bitcoin ( https://cex.io/btc-usd ) and vice versa. The benefit of bitcoin is in a technology called blockchain that allows making transactions without third parties (mainly banks) thus reducing the transaction fees. The fees don’t depend on the amount of transacted bitcoin as well as on the country you send it. In addition, due to the limited amount of coin (21 million), it’s supposed that the price of each coin will only grow and won’t meet inflation, unlike fiat money.