Bitcoin is a latest form of digital currency without any central bank. It can be sent from user to user without any intermediaries. In Bitcoin business, these are generated as a reward for a technique known as mining. It is invented in 2008 by a person using a name Satoshi Nakamoto. January 2009 Bitcoin Business starts as open-source software when it implemented. Nowadays the price of one BTC reached to $10,371.90 or 1,726,830.08 Pakistani Rupees.
Technically what is Bitcoin?
Bitcoin is a virtual currency which we can’t feel, touch, print or store in your wallets etc. In other words we can say that it is a form of electronic money. While doing Bitcoin business, it generates on a technology called the Blockchain. A blockchain is a growing list of records called blocks, which are linked through cryptography. Blockchin also can create store & manage digital transaction.
Scope of Bitcoin Business in Future
Many pundits say about Bitcoin, that it is a future of money. The actual physical currency will start shrinking and the digital currency will start materializing. Nowadays, many online retailers accept Bitcoins & deal their businesses easily. A lot of online stores and ecommerce websites accept Bitcoin as a payment method. Some are as:
- Ethereum
- Bitcoin Cash
- Ripple
- Dash
- Litecoin
- NEO
How can we buy Bitcoins?
It is very easy to buy cryptocurrency (Bitcoin), because there are hundreds and thousands of online websites or apps in cryptocurrency marketplace called “cryptocurrency exchanges”. Different people allow Bitcoin business against different currencies.
Now if want to buy or sell Bitcoin first of all you open an account in any website which I’II mention below. Than from that website you get a digital address which is your identity to buy, sell or pay in Bitcoin.
List of the names of those websites:
- Coinone
- Bitthumb
- Bitfinex
- Quoine
- Bittrex
- HitBTC
- Poloniex
- Kraken
- Coinbase
- Bitstamp
Risk in Bitcoin
As we now that Bitcoin is a virtual currency, but it also is not acceptable everywhere for buying or selling purpose. If it is virtual currency so, we can’t hide it in our wallets or banks that can we doesn’t use it in difficult time. The main risk of Bitcoin business and transaction is that its value fluctuates. Sometimes its value is on the top that doesn’t means it remains same. Maybe within an hour its value, fluctuates and go down. Selling or buying of a Bitcoin is a business in which experts can earn double or triple benefit in seconds.
But the most risky problem is that as Bitcoins is virtual, we stored them in digital wallets. There are many hackers who can easily hack our Bitcoins. They mostly target Bitcoin according to the higher value of fluctuation.
