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Home » Business and Management » What Is Bitcoin & Why Is Cryptocurrency So Popular?

What Is Bitcoin & Why Is Cryptocurrency So Popular?

Bitcoin has been the buzz word in the financial area. As a matter of fact, Bitcoin has exploded the scene in recent years and many people and many large companies are now moving towards bitcoin or cryptocurrency bandwagon.

Bitcoin is actually a digital currency that falls outside the control of a federal government. It is used around the world and can be used to buy things like your food, drinks, cars, and etc. You can even buy property with bitcoin via uprets.io.

Bitcoin is not sensitive to things like government control and fluctuations in foreign currencies. Bitcoin is backed by faith (you) the individual and it is strictly peer-to-peer.

This means that any person making transactions with Bitcoin, the first thing they realize is that it is much cheaper to use than trying to send money from a bank using or other services out there that requires the sending and receiving money internationally.

For example, if I wanted to send money to say that China and Japan would like to have incur costs of a bank and it would take hours or even days for this new money to get there.

If I use Bitcoin, I can easily do it in my wallet or my phone or computer instantly without any of these costs. If I wanted to send eg gold and silver would require a lot of guards, it would take much time and much money to spend bullion from point to point. Bitcoin can do it again with a touch of a finger.