Bitcoin is a digital currency that came into existence in 2009. It is known to use peer-to-peer technology. This way it is not linked to any central authority or banks. The management of transactions and issuing of bitcoins, everything is carried out by the network. It is an open-source that has a public design that no one owns or controls. Hence, everyone can take part in it. Also, Bitcoin offers the promise of low transaction fees as compared to other online payment mechanisms.
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