Nakamoto first published the invention of bitcoin in a white paper in 2008 and released it as open-source software in 2009. The big difference between bitcoin and credit cards is any fees charged are paid by the purchaser and not the vendor.īitcoin was invented per se by a pseudonymous person known as Satoshi Nakamoto, who for various reasons has chosen not to disclose his or her real identity (it may even be a group of software inventors). These people are known as ‘bitcoin miners'.īitcoin allows any person based anywhere in the world to become a part of Crypto Exchange and to send and receive money without permission from a bank, corporation, or government entity.īitcoin can be used as a legal form of payment for products and services and because the transaction fees are substantially lower than typical credit card payment processes, merchants are more than happy to accept bitcoin.
It is produced by people who run computers using software that solves mathematical problems. It's a form of digital currency where no one controls it and it's not printed like ordinary South African Currency (ZAR), US dollars, or Euros. To put it simply, bitcoin is electronic money or rather a cryptocurrency. The currency is pseudonymous, meaning that funds are not tied to real-world entities but rather bitcoin addresses. ₿ Bitcoin was developed to produce an electronic currency that was independent of any central banking authority where virtual money is transacted in cyberspace more or less instantly with very low transaction fees. It is simple and easy to invest in Bitcoin. ✅ More than 2 million+ bitcoin wallets have been opened by South Africans already. View the live price/chart of Bitcoin to Rand or 1 BTC to Rand today. Bitcoin was released into the global market in 2009 and very rapidly took the world by storm, setting a precedent for the creation of alternative cryptocurrencies. This is your comprehensive guide to bitcoin… the revolutionary new way to transact with anyone anywhere on the planet.
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