Bitcoin is a form of digital money or virtual currency. It was introduced in 2009 and has gained a lot of popularity.
You can store bitcoins in your digital wallet on your computer or mobile and send them through the internet to any other person and he can use it to purchase any commodity. There has been a gradual increase in the list of commodities available to purchase by bitcoin.
The transfer occurs between two individuals without passing through any bank or ACH(Automated Clearing House). Currency exchanges let you exchange bitcoins for standard local currency. Depending on the market the value of bitcoin keeps fluctuating.
Accepting credit cards online typically requires long procedures of security checks to ensure and guarantee compliance to the PCI Standards. Bitcoin security is built in such a way that makes this method obsolete. This E-commerce technique does not uses any kind card or account rather it makes use of NFC code or QR Code of your wallet.
The generation of...