Review on Bitcoin by Naomi Ilani
The Most Popular Cryptocurrency In The World
Wanna talk about popularity ?? Well Bitcoin should not be left out. The Bitcoin is the first cryptocurrency in the world and was established in the year 2009 by a man, Satoshi Nakamoto for Makin a Peer to Peer network. The rate at which the popularity of this cryptocurrency is going is so great as it proudly boasts of over 53 million user presently. The surprising fact of this cryptocurrency is that it is Decentralized, meaning it's not owned by any cooperate bodies and runs itself by it's community. In the present day, Bitcoin has been useful in many things like payment of some workers salary to escape the excessive bank charges, it can also be used to buy things in some places like China that accepts it. The fact that Bitcoin is still growing surprises me, where exactly is it going ?? I think Bitcoin doesn't want any cryptocurrency to overtake it in it's number of users and this calls for a competition with the rapid number of cryptocurrencies being introduced. Bitcoin still remains the best for me and should be for
Pros
- Very popular with about 53 million users and more still being added on a daily basis
- With Bitcoin, excessive bank charges can be escaped as some workers salaries are even paid using the Bitcoin
Cons
- It's transaction fee is a bit high when compared to other cryptocurrencies
