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Tag: The Practical Usages of Bitcoin

The Practical Usages of Bitcoin

The Practical Usages of Bitcoin

Finance
Bitcoin was introduced as the first cryptocurrency in 2009 that aimed to provide an alternative to fiat currency users. Fiat currency is the government-recognized legal tender used in bitcoin leads. It had been the only currency type that was available to the people for a very long time. However, a need was felt to phase out the central regulatory body so that a transaction can occur purely between two parties without any external interventions. So, it can be safely said that when Satoshi Nakamoto designed Bitcoin, he certainly saw it as a currency that had as many practical usages as fiat currency, if not more. Use of Bitcoin as a currency Bitcoin was introduced as a digital currency. It means that its primary use is being used as a medium of exchange in any financial transa...