In the year 1998, there was an idea that was formed to change the future of money that is used every day. It is called bitcoin, a type of cryptocurrency. The whole process got completed and the entire concept was formed in 2009. Since its inception, it became a huge phenomenon in no time. Millions of people around the world started to use and earn bitcoin. It became one of the sources of income also. There is no central authority to make any decisions on its operations. It is entirely open to the public to use. With more awareness about this product, there is a steep increase in the number of people preferring to make use of this currency. Research also says that there were 3 to 5 million new users till 2017 who were interested and using the wallet.
What is the speciality?
The main point that attracts people is that there is no decision-making rule. Several people are using it as a long term investment to earn bitcoin after some years. The success of the cryptocurrency lies in some countries. While in others, it is not considered to be legal. There are individuals who use it for illegal purposes, it is extremely important to track the record and put an end to those transactions. It is denoted by BTC. These can be used with the help of a mobile application or a computer program.
This currency has a personal wallet through which people can transfer and receive the bitcoin easily. The transactions are recorded in a blockchain and it ensures no fraudulent activities. There are several websites that offer free bitcoins for engaging in their services. Freebitco is one of the most trusted sites that are specifically working on the cryptocurrency. Today, there are millions of users actively participating in the site.