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Although it is possible to buy Bitcoin using a credit card, Sri Lanka has not yet been given that facility. Due to this, a Sri Lankan investor can currently buy Bitcoin only through an exchange or organization.
Due to the very high demand for the digital currency, the value of Bitcoin could rise within hours. Once the price of a Bitcoin was reported as 60000 US Dollars, but later that value has dropped back to 16500 US Dollars.
A Bitcoin unit is made up of 100,000,000 smaller pieces. This is like adding pennies or pennies together to form a high value sum.
Due to this, it is also possible to buy even a very small amount of Bitcoin. The smallest amount of Bitcoin that anyone can buy is 0.00000001 and this smallest unit is called Satoshi.
Is it possible to do daily transactions?
There are a number of establishments, restaurants and websites where you can pay for the goods or services you buy in Bitcoin, and you can transfer money between accounts using your phone or computer.
Special features of Bitcoin.....
Organizations or individuals who create Bitcoin through Bitcoin mining, which is a very complex digital technical process, are called Bitcoin miners. According to the limitations imposed by the Bitcoin source code, only 21 million Bitcoins should be circulating in the world.
•Bitcoin does not belong to any person, bank, institution or organization.
Bitcoin's main ledger is called Block Chain and all transactions within the network are automatically recorded in this ledger. Due to this, Bitcoin transactions around the world can be seen 100% openly by all the investors there. But the details of the account holders in the Block Chain ledger are not revealed in any way. A Bitcoin account can be maintained even under a pseudonym. The network identifies Bitcoin account holders through a special method unique to the software.
Another unique feature of Bitcoin is the ability to send any amount of money instantly to any country in the world without the help of any financial institution or bank. The normal procedures and rules followed for remittance or transfer from country to country do not apply to Bitcoin transactions. Due to this, no one has to pay any service charges or additional payment when dealing with Bitcoin.
The world's economic experts have warned about the rising value of Bitcoin, which has been likened to "a train running fast without brakes".
Likening it to a rapidly inflating ball, some doubt that this ball will one day explode.
In this way, a transaction made in Bitcoin cannot be reversed or reclaimed. If someone is given the wrong amount of Bitcoin, that person will have to bear the loss, except in the event of a voluntary redistribution.
The world's economic experts have warned of the rising value of Bitcoin, which has been likened to a "speeding train running without brakes".
Likening it to a fast-inflating ball, some doubt that the ball will ever explode.
Bitcoin investment is also interpreted as a kind of "gambling" because of the risk involved. Billions of dollars have been invested here, but the total value of the Bitcoin network at $268 billion is tiny compared to the global economy. Therefore, one economic analyst is of the opinion that if this collapses in any case, it will not affect the world economy.
Information Internet.