Originally released in 2009, the Bitcoin (BTC) is regarded as a crypto currency. While not widely recognized (yet), the usage of Bitcoins is becoming more prevalent as most Bitcoin enthusiasts think that Bitcoin is a government-proof money (notice that the IRS declared last year that it believes bitcoin as “private property” for taxation purposes). All the investors must well understand before investing in Bitcoin because it can be risky if you don’t have the full knowledge.
Furthermore, some banking governments have a different perspective of the crypto money as they consider it may be a foundation for criminal action. It is not a formal money. Instead, Bitcoin is created through ‘mining’ that is a computer procedure and unregulated web-based trades permit for the crypto money to be exchanged online.
Since Bitcoin isn’t governed by any national government or central bank, the vast majority of retailers won’t accept the digital money. While the Bitcoin might not be a common practice just yet, you will find an increasing number of property listings which are starting to market that they take the digital money.
A couple of nations are leading the way in Bitcoin approval. China is now undergoing the biggest exchange of Bitcoin while Japan and Europe are also seeing Bitcoin usage increasing in popularity.
Subsequently on December 4th, 2013 that the Bitcoin might have been sold for $1,150! Not a bad return on investment. But most have not been lucky with all the Bitcoin marketplace.
The Securities and Exchange Commission continues to be maintaining your eye on the Bitcoin and issued a warning in May of 2014 that said the following: “that the growth of Bitcoin along with other virtual and electronic monies creates new issues for investors.