Bitcoin is the 1st and most popular cryptocurrency in the world that cannot be touched. These are not banknotes or coins, and bitcoins also have little in common with electronic money on a bank card. This is digital money with its own rules for conducting operations that cannot be violated. This cryptocurrency runs on the blockchain – this system is compared to a big book containing all the records of what happens to the cryptocurrency. Each owner of bitcoin has an independent, but identical copy of this book in his hands. In all books, the entries are true and the same, and neither the banks, nor the government, nor the creator of the cryptocurrency can fake them. The system does not have a single controller, it is controlled by many participants.
Bitcoins are “born” thanks to miners, that is, people who generate cryptocurrency using computing equipment. They get rewarded for it.
Benefits of using bitcoin for withdrawals
- transactions with bitcoin can be carried out 24/7/365 in any corner of the world where there is Internet
- no limits on money transfer
- blockchain technology makes transactions with bitcoin transparent and secure
