When I first told my parents that I am going to buy Bitcoin, they came up with stuff like: “It is not safe?”, “It’s a total scam!” and my dad even mocked me saying “it is the currency of criminals. Are you into cybercrime?” It almost got impossible for me to convince them that it is actually a currency which is a cross between a stock and a form of payment which can be used to pay for things.
But a week after I got my hands on one of the most desired currency of these days, it became the new gold standard and countries such as Japan and China integrate it into their banking systems. Isn’t that wonderful? If you are still unaware of Bitcoinn, here’s what you need to know about it:
It is a virtual cash that people are using these days to send payments from one person to another. In many ways, Bitcoin is similar to payment networks like Visa credit cards or Paypal.
A number of merchants are willing to accept your Bitcoin in exchange for goods and services. Users can purchase thousands of legal things from it, be it a movie ticket, chocolates from Switzerland or even tuition for the University of Nebraska.
Well, no one really knows that. Some think that it has a bright future and soon it will become the digital gold, on the other hand, people think that it will eventually fail.