Bitcoin is a digital currency. Unlike traditional money, it is decentralized, has no physical form, and exists only as encrypted transactions in ledgers copied across thousands of computers on the Internet.
Money, as we know it, is controlled by a central authority. This makes our existing financial systems vulnerable to manipulation by unscrupulous persons. Bitcoin is an initiative to make financial transactions truly transparent. Since it is free from direct government interference and decentralized, its users are not bothered by exchange rates, interest rates, and hidden charges.
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