Bitcoin is a digital asset that can be stored at a cryptocurrency exchange or in a digital wallet. Each individual coin represents the value of Bitcoin’s current price, but you can also own partial shares of each coin. The smallest denomination of each Bitcoin is called a Satoshi, sharing its name with Bitcoin’s creator. Each Satoshi is equivalent to a hundred millionth of one Bitcoin, so owning fractional shares of Bitcoin is quite common.
Below are facts you would love to know about bitcoin
1. The coins are created by users who "mine" them by lending computing power to verify other users’ transactions which use blockchain technology.They receive Bitcoins in exchange.
2.The coins also can be bought and sold on exchanges with US dollars and other fiat currencies(the physical money we use every day in our bank accounts).
3. Bitcoins have to be stored in a digital wallet, either online through an exchange like Coinbase, or offline on a hard drive using specialised software.
It is believed that crypto currency is actually used in most countries today but it has not yet been known, although bitcoin is one of the fast rising crypto currency in the world today most people still don't understand how beneficial it is.
Hope you enjoyed it.
