What is Bitcoin?

What is Bitcoin? on Go Samaan Go

What is Bitcoin?

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name.

Catherine Mulligan, co-director of the Imperial College Centre for Cryptocurrency Research, says new ways of trading Bitcoin are allowing small investors to get in on the act.

However, 2018 is also likely to bring increased regulatory scrutiny of cryptocurrencies in a bid to protect consumers, she adds.

Unlike traditional currencies, they are not overseen by central banks and the possibility remains that some speculators could get burnt badly if the value of Bitcoin, for example, plunges.

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