The circular reads that Bitcoin is not an authorised and legal currency in any other country in the world--------------

Bitcoin is gradually gaining popularity across the world. As a result, central banks of many countries have taken measures to adopt separate policies for Bitcoin.

Bangladesh Bank Deputy Governor SK Sur Chowdhury, in a recent seminar, said: “A committee will be formed by next June, by coordinating with various public and private agencies. The committee will work to find out a way on how to introduce Bitcoin in Bangladesh.

Bitcoins can be used for online purchase like other normal currencies. But governments and central banks work through the general currency system.

A person or a group of software developers named Satoshi Nakamoto launched the cryptocurrency in 2009.

The Bitcoin transaction can be performed directly (peer-to-peer) between two users. A method named “cryptography” is used to ensure the security of the transactions. Such transaction can be performed without revealing the identity of the user.

The primary reason behind its popularity lies in the concept that investing in Bitcoin would generate a huge profit.