Crypto Academy Season 3 Beginners' course - Task 3: Bitcoin, Cryptocurrencies, Public chains. By @ruggedangel for @stream4u

Hello steemains,here is my homework for beginner's course task 3. I will like to take questions one after the other.

Bitcoin is often described as a decentralized programmed currency, that works without any central bank or private director or manager, which can be sent from one user to another user. In other words, Bitcoin is an inventive payment network. Bitcoin was the first coin that was introduced in cryptocurrency world, which was discovered in the year 2009 by a programmer called SATOSHI NAKAMOTO.

Bitcoin exchange also allows users to buy and sell bitcoin with the use of different currencies, which you can also buy, sell or exchange without any conciliator or negotiator. Example, Banks. Bitcoin allows the use of peer to peer exchange of cost in the computerized field with the use of decentralized procedure.

Bitcoin has achieved a lot of fame or reputation why because, it is used to run businesses and also acceptable for payment. Bitcoin are being protected in their blockchain which is modified by miners. Bitcoin serves as a digital currency or coinage which abolish the use of traditional mediator like government and banks to create a financial deal or trade.

Bitcoin was actualized as a method in which people send money through internet. Bitcoin was deliberately created to contribute or supply a different payment method, which will perform free of charge and also can be use in the same way as other traditional coinage. Bitcoin can also be use to buy products online.

Bitcoin, in other hand, is a very fast payment than that of bank. Think of it, when sending money to a friend or relative who is outside your country, it will took lots of hours before receiving the money and he will also go to bank to clerify the payment. But with the use of bitcoin is not like that. One can send money from its wallet to another user's wallet which might be a friend or relative. The payment will be confirm very fast and very easily to perform transactions.

In these case, i will say that cryptocurrency is good for a business to accept as payment. Reason is this- Cryptocurrency, like for example, most bitcoins do take low fee while transacting Or some won't take any fee. While banks charges higher fee. Meanwhile, approving cryptocurrency as payment will reduce transaction fee and save your business a big amount of cash.

Crytocurrencies can be efficiently accept by a business company as a means of digital payment with the aid of virtual payment processors [ computer or mobile device ]. Accommodating bitcoin is a serious way of growing in your business perfectly.