What you should know about bitcoin?
Bitcoin is a hot topic right know on the financial markets.
Most likely, everyoane has heared of Bitcoin and virtual currencies raging in markets with their flashy developments.
What is Bitcoin?
Still wondering what Bitcoin is? Well, Bitcoin is the most famous of the digital currencies or "cryptocurrencies". The emergence of Bitcoin was made possible by the revolutionary techonology that is based on, namely "blockchain".
Blockchain is a different encryption techonology that uses a distributed online database to ensure transaction confirmation in its structure.
The advantage of Bitcoin is that it makes payments between various entities directly, securely and cheaper, without the intervention of a central bank to process payments or a bank.
The transactions with virtual currencies are carried out directly between the digital portfolios of the parties and are verified through the blockchain. The transactions are digitaly signed with unique private keys that belong only to the owner of the digital wallet.
In the markets, Bitcoin is abbreviated as BTC and is traded against the main currencies EUR, USD, GBP and other cryptocurrencies.
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