In this digital era where every problem has a digital solution ready at your mobile or the laptop screens, it becomes very easy to seek a digital assistance for the monetary needs. And in order to solve this particular problem-
Satoshi Nakamoto in 2009 founded a digital solution for this. He created a crypto-currency which was named as BITCOIN. It is like a digital form of currency which also works like currency for the various transactions like sale, purchase, payment, etc. for which earlier coins and notes or cards were used.
Disadvantages of Bitcoin
Although bitcoin serves a lot of advantages yet it is not considered legal in many countries due to which it is termed as illegal. And it is also criticized for its irrational and wrongful usage by people. It can be easily stolen by the exchanges itself so it is also creating a secrecy concern.
It is also criticized for its high carbon emissions as well as higher electricity consumption due to which it harms the environment adversely.
Advantages of Bitcoin
Bitcoin does not involve any inclusion of the third party which means it provides a lot of privacy and secrecy. They are easily transacted at a cheaper transaction cost. They not only reduce the paperwork but also save the time of the user.
Bitcoin is very secured and controlled crypto-currency because it is built keeping in mind the privacy of the user. People should know the value of 1 bitcoin and for that one can search on internet as btc to usd.