Bitcoins - Important facts you need to know

Published on Saturday, August 30, 2014
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

Bitcoins facts

Image source - Coindesk

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