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What is bitcoin?What does it do?How is it work.?
What is bitcoin?What does it do?How is it work.?This are the question when someone basically hear about something that they didn't know. I also did it the same way you did after that if you have an internet access, you will start google about it. That is the almost same things people do in every day since the information is at your fingertips.
Here the answer for your question :
What is bitcoin?
In summary : bitcoin is a first decentralized digital currency. and what is that mean. It mean that any transaction from internet now is not centralize by bank anymore, it is happen like sending a coin through the internet. It is transfer directly from a person to a person via internet without going to bank. Sound interesting right. As a result the fees is much low and can use at any country, account cannot be frozen etc.To understand more watch this video :
What does it do?
In summary : bitcoin transfer money via internet. So that you can pay any transaction directly via internet. This is an evolution of payment method in internet.How is it work?
In summary : bitcoin work like transfer money from person to a person. You need to convert your money first to bitcoin wallet to store your bitcoin and you can start do the transaction via internet.Advantage using bitcoin
Since you have basic idea about bitcoin, but what is make it so special.?The answer is bitcoin allow you transfer money directly from a person to a person without need you to go to the middleman like bank or clearing house compare to the other . This is mean that the transaction is little or no fees involved. If the price is 5 dollar, then you just transfer 5 dollar to the other person. Simple.
It is also give an opportunity to the users since the prices changes over time, you can use this platform as a investment - buy coin when price low and sell it when price increase - same like gold investment.
You can find more information about bitcoin here : weusecoins.com
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