In 2008, no one heard or knew anything about them, but now it seems it’s now the new normal. Bitcoin is the most commonly used cryptocurrency on the internet. It was first introduced in 2008 by two programmers Martti Malmi and Satoshi Nakamoto. Other types of digital currency include swisscoin, edinar, peer coin, aurora coin, black coin, burst coin, Ethereum, litecoin, etc.
During the introduction, a bitcoins was worth $0.08 us dollar ( around) 25 naira. Year after year, it grew up better and stinger. Now, in 2017, it is worth $2165.51 ( around 681594 naira). Cryptocurrency’s decentralized, anonymous and P2P exchange makes it truly a digital financial revolution. And as part of plans to accept and adapt to the technology, countries like the United Kingdom, USA, Denmark, Estonia, Sweden, South Korea, the Netherlands, Finland, Canada and Australia legalized and embraced the new digital currency and presently, it’s being tested and used at an increasingly rapid pace. Top brands like WordPress, Microsoft, Dell, Wikipedia, Zynga, Etsy and a host of others now accept bitcoins on their payment channels. Even freelancers now choose to be paid in bitcoins.
As a cryptocurrency optimist, I think the digital currency will free customers and merchants from the difficulties and excessive costs of dealing with banks and other financial institutions. Looking at the technology on which the currency is built “blockchain”, you will see that truly there is a financial revolution going on.
There are some places where Bitcoins are banned and restricted;