A decentralised, virtual online currency that is designed for the users to do transactions is bit coin. A network of bit coin is now dominate the space of crypto currency and is giving rise to a legacy of alt coin followers who prefer this more than the government flat currencies. Anyone can get the bit coins form the bitcoin faucet site for free. These coins have no any control of any government body or any bank. They are totally independent and can be mined through the computers. The payments of bit coins are done through private networking on your computer that is connected from shared ledger. The bit coins are beneficial for the people in many ways:
- Paperless system: when somebody wants to open the account in this system they don’t require any identity proof or address proof that the central bank required. This system is totally paperless. You can send or receive the bit coins by downloading a bit coin wallet program into your PC.
- Appreciation value: If you check the graph of the bit coin exchange value, you find that in starting days after when the bit coin introduced in the market was stable. But as the time goes its value continuously varies and increasing in its value regularly.
- Easy transactions: The fee is much lower than the classic methods of moving money when transferring the bit coin. A typical fee of bit coin is .0005 BTC per transaction.
- You have control: More than your money Bit coin transaction is most safe. No one is able to give you money or have right to pay on your behalf. As long as you take the necessary step to protect your wallet, bit coin can give you with control over your money and keep it safe from many kinds of frauds.