Bitcoin was first designed in the year 2008 by Satoshi Nakamoto. It is also known as crypto currency. Bitcoin wallets are used to store this crypto currency, and are used for doing transactions such as sending funds or receiving funds securely. The wallet is secured by a password or private key. This currency is not controlled by any government or authority. The advantages of Bitcoin currency are
- It’s fast and secure. You can transfer Bitcoin from one country to another in less than 10 mines.
- No need to carry your credit cards or cash with you.
- You can use your computers or Smartphone to do transactions using NFC, or scanning the QR code or if you know the unique bitcoin.
- You can make transactions to anyone if you know the Bitcoin URL which is a unique alpha numeric address of Bitcoin wallet.
- Since there is no bank involved, the transaction fees are very low.
- The transactions are done in real-time using peer to peer networks.
- Bitcoin’s can be used in any country and can be exchanged for the currency of your choice.
- The transactions made by using Bitcoin are generally anonymous.
Bitcoin is being slowly accepted by merchants all over the world as there are fewer risks involved, this is paving way for increased usage of bitcoin games.