Review on Bitcoin by Adedamola Adeniji
Why the future belongs to Bitcoiniers
Bitcoin otherwise known as crypto currency is a digital space currency which is absolutely virtual or intangible.Bitcoin was invented in 2008 by people under the name Satoshi Nakamoto it kicked off in 2009 when its implementation was released as open-source software.
It is a kind of Internet cash which affords you, the opportunity to buy product and services, although it still at this point in time enjoys universal acceptance, but in the recent times has made impressive progress in countries like USA, UK and some parts of Africa.
Each Bitcoin is some sort of computer file which is kept in a digital purse on a computer file which is kept in a digital purse on a computer or smartphone. Every transaction you make is recorded in a public list known has block chain.
This record of transactions make it possible to track the history record of Bitcoins thereby stopping people from spending coins that they don't own. I personally have enjoined the speed and flexibility of making use of Bitcoin in making international transaction, in 2014 I had to make some transaction in a different currency from that of my country, it was swift and easy compared to what obtains at Banks and other online means.
I make bold to recommend that using Bitcoin will make doing business at international level piece of cake for you
Pros
- Talking from my experience Bitcoin is fast and flexible when making international money transfer and at a very cheap rate
- As against the inability of banks to provide round the clock financial services, Bitcoin is a bridge builder that's can be accessed any time of the day.
Cons
- Bitcoin at the moment cannot be used for offline transactions because it relays largely on the use of internet.
