What is Bitcoin? Beginner’s Guide.

What is Bitcoin? Beginner’s Guide.

Bitcoin is one thing that in some past many years have created huge buzz across the world. In the beginner’s guide of біткойн, you may learn all basic and essential stuff linked to Bitcoin. There’re a lot of amazing ways you can know what Bitcoins. So, let me explain in detail to you with help of the example. Today, let us say that you want to send some money from to USA. You use the bank wire transfer like PayPal and Payoneer to send out money. For this money transfers, you will end up paying some fees:

  • Service fee to bank for keeping the record of money and ensuring safety.
  • If you are using the payment gateway like 2Checkout, Stripe, PayPal, and other, you can pay transaction fees. Some deduct the conversion charges.
  • Currency conversion fees.

Thus, you are paying some money to bank for securing and transferring this money for you. In fact, everything will be monitored on the ledger (or bank records) and money will get transferred digitally from an account to other. It isn’t like physical delivery of the goods; money isn’t moved physically. But, although it is digital, we will pay huge chunk of transfer amount as the “service”

Although everything can be done digitally today, why will you lose a lot of money? Well, it is how the banks and remittance services such as PayPal or Payoneer is mining their money from the users like us. However, there is the solution to such problem of the cross-border transactions: Bitcoin

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