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//]]>// >By Nicholas Otieno
Mar 11, 2021 5:00 AM PT
Bitcoin has become a financial and cultural phenomenon, having been in existence only since 2009. While many people have heard of it, very few understand it. In short, Bitcoin is a cryptocurrency, or digital currency, that allows transactions independent of the banking system.
Some see digital currency as revolutionary because it lets people send funds as easily as emails, even across international borders.
Although Bitcoin was originally developed to function as an alternative to fiat currencies (those that governments have given legal tender status), there has been a noticeable rise in demand from many people purchasing the virtual currency purely as a financial investment, hoping that it will appreciate rather than using it for a transaction.
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//]]>// >By Nicholas Otieno
Mar 11, 2021 5:00 AM PT
Bitcoin has become a financial and cultural phenomenon, having been in existence only since 2009. While many people have heard of it, very few understand it. In short, Bitcoin is a cryptocurrency, or digital currency, that allows transactions independent of the banking system.
Some see digital currency as revolutionary because it lets people send funds as easily as emails, even across international borders.
Although Bitcoin was originally developed to function as an alternative to fiat currencies (those that governments have given legal tender status), there has been a noticeable rise in demand from many people purchasing the virtual currency purely as a financial investment, hoping that it will appreciate rather than using it for a transaction.