A lot of secrets are hidden behind the success of Bitcoin.
Bitcoin, a term that has always been in the discussion over the last few years but the form we got to see this year (2021) has been awe-inspiring. Bitcoin has given a new look to the financial industry. Some countries have adopted it positively and large payment platforms like PayPal have also shown interest in it. The credit for its success goes to the technology behind it, which we know as Blockchain.
Let’s understand its merits closely. There is a big difference in the finance industry today that we cannot manage our own money in our way.
Majorly, we only have two options to manage our money. Either we manage the cash ourselves or use the service of the bank. But here both have their disadvantages. Fear of theft or any other problem in managing cash And in the bank case, some conditions of the bank have to be accepted (i.e Withdraw limitations). Both the cash and the bank are under the control of the government, which is centralized.
So here Bitcoin comes in the picture. The beauty of Bitcoin is it’s completely decentralised. This Means it is not in anyone’s control and no restriction(If you are an owner then you have complete right to manage it in your way).