Cryptocurrencies have grown in importance as an alternative to local currencies. This currency is not controlled by any government or private institution. It is a digital currency and is not printed on paper. Currently, the value of one bitcoin is 17.5 lakh taka.
Due to the global economic recession of 2008, many companies went bankrupt. This was mainly due to wrong economic policies and corruption. Since then, the importance of digital currency has increased.
Bitcoin is the first experimental cryptocurrency. Bitcoins are exchanged directly between sender and receiver online. Its best advantage is that it does not require the cooperation of any third person or organization.
Anyone who needs to send bitcoins can easily send them directly from one country to another. Mining is required to sustain the Bitcoin system. Bitcoin transactions are stored in a secret language.
By doing this, no one can interfere here illegally. Because of the implementation of the blockchain system, you can see the account no matter where you are in the world. But it is not possible in the banking system.
Bitcoin is a highly secure system. Bitcoin mining requires a lot of computers. In many cases, it can cost you crores of rupees. High-capacity graphics cards are required in these computers.
To work with so many electronic devices in an enclosed room, you need enough power and areas with winter weather are considered suitable.
But the amount of money earned by mining Bitcoin is decreasing day by day. There are millions of people in the world who have 10 crore worth of bitcoins.