What is a BitCoin?


A Bitcoin is comparable to a digital currency. Not a nickel or silver, but a unique series of numbers and figures. The remarkable thing is that the Bitcoin can not be faked and it is impossible to destroy it (although if you could lose, we will do so in this section). This is in contrast to the normal money as the dollar. Bitcoins are in a large network of computers (cryptographic) to perform arithmetic operations constantly to ensure that all Bitcoins are immutable and is safely stored on the network. Each Bitcoin network has a password that only the owner knows. With the password the owner can use Bitcoins to pay, transfer or exchange. This payment Bitcoin seems fairly by sending an email with a password. With the password the recipient can get Bitcoins. As dollars can be divided into smaller units, with Bitcoins it is equal. Compare it with a dollar which is divided into cents. Bitcoins can be divided into up to 8 decimal places.