Cryptocurrency Bitcoin just crossed $8000 landmark and this happened soon after it crossed $7000 milestone. The cryptocurrency passed all the records in history and crossed this milestone for the first time. Bitcoin surged to a new all-time high on November 21, peaking at $8191.99. This marked the first time the cryptocurrency’s worth conceded the $8,000 mark.
What a Cryptocurrency Bitcoin is?
“Bitcoin” is a type of digital currency which we call as cryptocurrency in which encryption is used to monitor the generations of units of currency, it verifies funds transfer. Bitcoin has become popular among speculators and can be used for online transactions between individuals. It is created by painstaking mathematical computations.
You can buy desired goods and services online without storing it physically. Cryptocurrency Bitcoins acts like virtual coins and can be transferred online from one wallet to another. Bitcoins are tracked by Blockchain. Blockchain is unique to each and every user as well as his/her bitcoin wallet. Bitcoin is not regulated by any bank instead they are regulated by three groups:
A server who supports the group of miners, Online exchange that converts the bitcoin into dollars and the mining pools. It is secure to use bitcoins but an additional security measure is required if you own more 1 or 2 bitcoins. Hackers are everywhere strengthening their networks to dominate this technology.
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