If you have been paying attention to the world of finance and the economy, then you may have heard of the new venture called bitcoin. However, many people are still confused about this new virtual currency. Just what is it? And why is it becoming so popular? For starters, bitcoins is a digital currency that functions similarly to traditional currencies. What makes it different is that instead of being issued by a government, bitcoins are generated by “mined” computers. The term” Bitcoins” comes from the word” bitcoins” and “blockchain.” Basically, the transactions of bitcoins are made between individuals, banks, companies, and other entities. Now, let’s talk about how you can use bitcoins. To start with, most transactions done on the internet are considered to be like gold transactions. Think about how PayPal works. The company allows you to send money online, regardless of where you live. This allows you to make purchases from anywhere in the world using your credit card. In the same way, you can buy goods on eBay using your debit card. Unlike PayPal, though, bitcoins are not traded publicly. Transactions involving bitcoins are performed through “bitcoins wallets,” which keep transactions private from the outside world. You […] read more