Sunday, October 25

Tag: cryptocurrency

Advantages and Disadvantages of Bitcoins
Finance and Business, Technology

Advantages and Disadvantages of Bitcoins

Bitcoins have become a popular mode of currency transaction over the years. The article looks at the advantages as well as the disadvantages of bitcoins. WHAT IS CRYPTOCURRENCY? Cryptocurrency is a type of virtual or digital currency with no regulating authority per se. It works within a decentralised system where transactions are recorded and managed. The main reason cryptocurrency has gained popularity is because it helps in preventing counterfeiting and fraud schemes. A computerized database stores the transaction records safely. No physical money gets exchanged in the process. WHAT ARE BITCOINS? Bitcoins are a type of cryptocurrency invented in 2008 and released as an open-source software. It is the first decentralised digital currency. They are digital or virtual coins that you ca...