The use of virtual currency bitcoins continues to grow. Decentralized digital currency systems have been introduced in several countries around the world, such as the United States, China, the United Kingdom, Russia, Germany and India.
Necessary products are also being bought with at least a dozen virtual coins like Light Coins, Peer Coins, Ripples, Drake Coins, Dog Coins, Name Coins by paying the price of goods online. The activities of this currency have also started in Bangladesh by purchasing goods from online.
Bitcoin appeared in the online world in January 2009. The bitcoin was invented in 2006 by Satoshi Nakamoto, a software developer. This is the first virtual currency in the world.
This medium of exchange, created electronically, is peer-to-peer. Bitcoin is currently represented in Canada, Mexico, the Netherlands, Australia, Germany and Denmark.
However, it has not yet been recognized as a legal or official currency. Only security and decentralization facilities are expanding in terms of popularity.
Bitcoin is not actually a coin. It is a virtual currency, which is exchanged through computers. The symbol for the bitcoin is BTC, and its smallest unit is Satoshi. 1 bit coin is equal to 1000 ml bitcoin and satoshi 1 bitcoin is equal to 1 crore satoshi.
Bitcoins cannot be kept in any cash box or bank. There is no specific regulatory body for this currency. It is traded online.
Since it is a cryptocurrency system, it is used for all kinds of legal and illegal activities online, and since there is no specific regulatory body, it is out of reach to know who or what is doing Bitcoin transactions.
