How Bitcoin works? The secret to trading online!
Bitcoin is a form of cryptocurrency which consists of two keys. The public key is used as an address, used to share with others to make transactions such as bank account number of an account holder and the private as the suggestions should be kept private by the user just like an ATM pin. It is one of the early digital currencies to use a technologythat helped to facilitate instant payments between two users without any transactional cost.
Pros and Cons of Bitcoin
There are many people who believe in bitcoin wallet and think it will be the future for transactions in the world. Many people who are in support of Bitcoin think that it is a fast, low transactional cost method that can be exchanged for traditional currencies which attracts a large number of investors and traders. On the other hand, it is not backed by any government bank and even banned in several countries as the government thinks it can lead to a disaster in the stock market among other things.
Why are bitcoins considered to be the enemy of the government?
Bitcoins are considered as an enemy by the government as it is a digital currency that can be used in the black market, purchase of illegal things, money laundering etc. Therefore, the government of many countries has certain regulations which refer to transactional limitations or even ban on the purchase and sale of Bitcoins.
Like with any other type of investment, Bitcoin values can also fluctuate. The past trends show that digital currency can have huge swings of price fluctuation in a short period of time. This is not suitable for everyone, as most people are not comfortable with such high risk in investment.
