Hi. So I want to try out my writing skills. Tell me what you think. I wrote a short section about Bitcoin and what it is. Leave me your feedback please.
Bitcoin is a cryptocurrency that works on a decentralized network platform named as the blockchain. It was allegedly known to have been created by a Japanese man named ‘Satoshi Nakamoto.
He is a rather mysterious figure known to have disappeared a few days after the creation of the much revolutionary digital currency, Bitcoins. The main motive behind his creation was to bring back financial freedom to the people and disseminate control over the monetary system by the government. He was unsatisfied with the government’s unexpected changes in monetary systems, currency devaluations, and hence, the never ending financial crisis that brought millions of innocent hardworking people to the streets.
Bitcoin is revolutionary in the sense that it is based on completely anonymous transactions on a truly decentralized network platform. This ensures that there are no governing authorities which have control over the bitcoin network and transactions.
Many people showed their support for the creation of this cryptocurrency as means of sending, receiving and keeping money. Bitcoins are stored in what is known as ‘wallets’ (digital wallets) and they are sent and received through each individually created unique addresses. There are simply hundreds of digital wallet service providers for Bitcoins and one of the most popular between them is known as blockchain.info. Through the registration of a wallet, users are able to create unique bitcoin addresses to send, receive, and keep their money completely online.
These unique addresses are a combination of 25 words and numbers and it is used much like how e-mail addresses are used. Users are capable of generating as many new addresses on wallets, hence making it difficult for people to track and identify the owners of each unique addresses – being anonymous.
Bitcoins can be easily bought with FIAT through cryptocurrency exchanges. These are websites / platforms that allow users to exchange FIAT currency to Bitcoins or vice versa. Most of these platforms accept bank wire transfers, and or credit cards.
If you are someone who dislikes the idea of someone else having control over your money, or if you are someone who is fed up with unexpected financial crisis created by the government, or if you simply just like instant international transfers with little to none transaction fees, you need to start using Bitcoins right away.
-AmazingSam
I know this information is obvious to everyone here. But do let me know what you think. I will write about something better next time.