Bitcoin (BTC) is a digital currency which is created and held electronically and no one controls it. “Bitcoin is an online payment system invented by Satoshi Nakamoto, who published his invention in 2008, and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary.Transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. The ledger uses its own unit of account, also called bitcoin. The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency… ”
Bitcoin Investing: BitcoInvest.cc
Bitcoin is now widely used currency and many trading platforms accept it as a method of payment for their clients’ trading deposits. There are many benefits using Bitcoin as a currency. The first benefit is “the fact that the cost of transaction is the lowest among all forms of online payment. This is the very reason why Bitcoin was created in the first place, to lower the cost of online transaction. Since there is no central authority managing Bitcoin, no service fee is paid when receiving or transmitting payment.” Another reason for traders to use Bitcoin as a currency is that Bitcoin itself is tradeable and they can earn extra Bitcoins that way.