What is Bitcoin? - The Layman's Way of Explaining it.

I heard about Bitcoin 7 years back and to be honest, I was one of those people who laughed at it. I was thinking, huh…nerds and geeks just want to do something that would isolate themselves more from humanity. But boy oh boy I was wrong.

Came 2017, Bitcoin just got bigger and it seems like a breakthrough that would cripple BIG financial institutions like banks. From $0.0001 value to $4,500 in a span of 9 years. Wow! just wow! I know.

I’ll spare you the technical details, Bitcoin makes transaction and transfer of money a lot easier and faster. No fees needed. No bank approval, no waiting in line. You have the power over your finances. How cool is that?

All you just need is a secure digital wallet (which comprises of 12 characters that you can memorize) which can be downloaded on your phone or laptop and to be truly secure, you can buy a Keepkey or a digital ledger that would prevent hackers from taking your money.

The only down part is, if you lose or wont remember the key or have sent the Bitcoin wrongly, you can never undo it. You can never get your Bitcoin back when sent. Of course, not unless you’re sending it to your friends. 🙂

The most heartbreaking part now, is why I did not buy Bitcoin 7 years back. I feel stupid, really. BUT it’s never too late. Analyst predicted that it can be valued $25,000 in 5 years time or more. Start now!

P.S.

There are caveats. And I will be discussing that next time. But for, download a wallet and invest on Bitcoin.