Is Bitcoin legal? Very few countries have declared Bitcoins ‘illegal’ which means consumers can’t use Bitcoins in everyday transactions but that doesn’t mean that they cannot use it for making payments.
Why use Bitcoin? Bitcoin was initially introduced as a decentralized, alternative mode of payment to substitute international bank transfers, as they were time-consuming, expensive and could be tracked very easily.
Who is Satoshi Nakamoto? No one really knows who Satoshi Nakamoto is. It’s just a pseudonymous name used by a Japanese software developer who proposed the idea of Bitcoin in 2008 and wanted to develop it as an e-payment mode based on mathematical proof.
What is Bitcoin? Bitcoin is the precursor of digital currencies, what we know as cryptocurrencies—one of the fast-growing financial assets in the virtual world with a cryptographic verification system. It was introduced in 2009 and is separated into 2 components.
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