FINANCE

BTC – An Innovative Payment Network

With technology coming into everyone’s life, life is getting easier. To secure the transactions you make and verify the transfer of your properties, Bitcoin, commonly referred to as BTC, came into the picture in 2009. It is a crypto-currency, making use of encryption and decryption to prevent forgeries.

btc

What is BTC?

  • Unlike the other currencies that one uses in his day-to-day life,BTC is a digital currency.
  • It is a decentralized form of payment as there is no central authority keeping its record.
  • It makes use of peer to peer technology;that is, there is no head or main server; every company or individuals taking part in the transaction is its head.
  • The value of BTC varies for different currencies; for example, 1 Bitcoin is equal to 711053.53 INR and is equal to 10359.90 United States Dollar.

How to get Bitcoins?

The first thing required to store Bitcoins is a Bitcoin wallet; it can be anonline wallet, a software wallet and an app-based wallet.BTC can be brought from the marketin exchange for other currencies. Also, it can be taken as a means of payment in exchange for goods and services as per your requirements.

Having safe and secure ways of transactions can prevent cyber crimes to a great extent.Btc has given a new shape to society and is helping it to become a better place for everyone. The process of bitcoin transfer is easy and convenient and can be done anytime or anywhere!