What is Bitcoin and how does it work? Is it legal? And Who's behind it?

[Busybee]

Bitcoin is a digital currency that is based on blockchain technology. Here smaller units called Satoshi are used and many satoshis combine together to form a bitcoin. It is legal in many currencies. Many Countries such as Venezuela, Russia allow Bitcoins and they are legal we can use them to complete financial transactions. But countries such as China outright banned Bitcoins.

 

[Lens]

Bitcoin is a digital currency and it the original version of the digital currencies. The altcoins are copied version. It a legal digital assets traded in the cryptocurrency market. An anonymous satoshi Nakamoto Created it.
Bitcoin is in legal currency and it works on the basis of the blockchain technology. the person that's behind the creation of bitcoin remains anonymous and this has been the case for a very long time.

 

[Bookwormlux]

Bitcoin has a lot of value , and this is due to the fact that a lot of people trust it and I do not think any country or regulatory agencies can just wake up to declare its illegal at all.

 

[Sincerem]

Bitcoin's is legal in most countries while a lot of countries considered bitcoins a digital currency sets in to destabilize the economy of their country. The main person behind the invention and establishment of cryptocurrency is satoshi nakamoto , the founder of bitcoins.

 

[Ghost]

For some time now Bitcoin is the talk of every town. However, i am wondering what it is. Well, Bitcoin is the first ever digital currency that is used and distributed electronically. It is a decentralized currency as the control does not lie on any central authority.

Wow so many questions. Bitcoin is a decentralized token. Means you control your money and the government has no direct impacts in it. In some countries it is legal while illegal in some.

 

[Sotherefore]

Bitcoins has not generally been declared an illegal assets but in most countries they may consider it as illegal currency because they might believe it is a threat to their economy.

 

[Lynaia]

Of course bit coin is legal in country that knows its important and has adopt cryptocurrency. That means it's illegal in any country that has ban everything about cryptocurrency

 

[Agbalagbaa]

The truth is I don't know much about cryptocurrencies especially Bitcoin, not too long I know what cryptocurrency is I will much appreciate it if someone explains to me.