It is a Virtual/Crypto/Digital Currency, was launched in 2009 by a group of software engineers with a pseudonym Satoshi Nakamoto, total number of bitcoin is capped at 21 million by that group, so far 12 million unit of bitcoin have been created.
Important facts about Bitcoins
- 1st Conference on Bitcoin was held in Bangalore in 2013 which was organised by CoinMonk.
- It is the most expensive currency in the world, one unit of bitcoin is equal to $500 approx. Rs.31000 as on August 2014,
- Payment in bitcoin is processing fee free, a large amount of money can be transferred,
- the largest exchange dealing bitcoin is Mt.Gox in Japan.
- 1st ATM was started on this in Vancouver, Canada.
- It is stored in Computers, and can be minted by any one who is having computer
- It is a risky currency as can be hackled,
- Elliptic Vault of UK has become the first insurance co to Insure Bitcoins,
- Thailand is the only nation that has banned it. Indonesia also banned bitcoins
Bitcoins price history
Image source - Coindesk
