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5 Unpopular Facts About Bitcoins

Facts about bitcoins

Recently, the world has been thrown into a bitcoin frenzy because bitcoin is the first and most famous digital crypto-currency has been racking up headlines due to an amazing rise in value. Bitcoin is multifaceted as it involves technology, currency, math, economics and some social dynamics but I bet you didn’t know these facts about bitcoins.

Facts about bitcoins

1) No single entity/government has control over bitcoins.

2) One bitcoin transaction consumes 3,994 times more energy than a credit card transaction.

3) All Bitcoin transaction is transparent and can be seen on block chain.

4) Refunds are not possible on bitcoin transactions.

5) Bitcoin Network is more powerful than 500 Supercomputers put together.

 

That said, a question worthy of asking is How do I buy bitcoin?

Now if you’re willing to jump into the fray and assume the risk associated with owning bitcoin, there is an increasing number of digital currency exchanges but we would recommend you trade with us. With us you can buy, sell and store bitcoins.

Another question would be, What can I do with bitcoin?

Well, now that you have it, you can use it to buy things from more than 100,000 merchants, though still few major ones. You can sell it. Or you can just hang on to it. Note that there are no inherent transaction fees with bitcoin, although some exchange platforms will charge a fee when you buy or sell.

 

Read Also: What Do You Know About Bitcoin In Nigeria?

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