Bitcoin is a craze that appears like it is here to stay. With many investors choosing now to get into...
LET’S TALK ABOUT BITCOIN
How does it work?
Bitcoin is both a currency and a payment system, and the most innovative way of transferring value at little cost.
Fast. Trustless. Borderless.
Payments are made & verified in seconds, from any place in the world, without asking anyone’s permission.
Benefits of Bitcoin
Mobile payments made easy. Security and control over your money. Works everywhere, anytime. Choose your own fees. Protects your identity.
BENEFITS FOR INDIVIDUALS
By definition, the Bitcoin is dematerialised. Thus transactions, between individuals do not pass through any third party. When you use the Bitcoin as currency, fees are much lower than in banks. The Bitcoin being a virtual electronic currency, has no boundaries. Whether you are in China, the United States or Africa, you can freely carry out transactions at almost no cost. No arbitrary terms or limitations will avoid you from making a transaction. Transactions are much faster and cheaper to verify, another advantage over traditional banking systems.
A GIANT STEP
While governments slowly limit the use of cash, major online companies and retailers announced they accept Bitcoin for their physical and digital goods & services. Those announcements, emphasize the high roll Bitcoin could play in the era of digital payments where everything is sold online and perhaps the future of the whole digital currency industry. We can find Microsoft, Overstock, Zynga, Gyft along with many other companies that accept Bitcoin today.
BITCOIN IN NUMBERS
12.5 bitcoins per block (approximately every ten minutes) until mid 2020, and then afterwards 6.25 bitcoins per block for 4 years until next halving. This halving continues until 2110–40, when 21 million bitcoins will have been issued.
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