Review on Bitcoin by Shalom Kolawole
BITCOIN, THE FUTURE CRYPTO CURRENCY
Bitcoin it coin the first crypto currency to be launched. In 2011,satoshi Nakamoto the anonymous creator of the world acclaimed. Bitcoin reposed the white paper of his project presenting. It to be a decentralized and anonymous form of money. The first business transactions with bitrain was to buy a pizza with thousands of bitcoin fimng indeed. Bitcoin has moved from being just a payment system but a project for investment. It's market capitalization and supply of 21 million coins move it a sure bet for traders and investors alike Bitcoin is traded on virtually every exchange in the world. It boasts of a decentralized economy Bitcoin whole. The coin is stored on many hot and cold wallets and is accessible anytime. Transaction speed and transaction cost which Bitcoin has as a hedge over fiat currencies has now been degraded by the new coins in circulation
Pros
- A good investment for holder
- Frequent price swings make it ideal for traders
- Transborder transaction are expected quickly using bitcoin for which gives mineral value for their input in the block chain
- Excessive bank charge is avoided
- Transaction can be done at your home comfort popular
- It is the most crypto currency in the world making it accessible in almost all the parts of the world
Cons
- Too expensive to acquire
- Frequent price swings can lead to looses
- It doesn't readily appear decentralized
