Bitcoin is basically a digital form of currency that can be created and held easily using the internet on computers. And it is well-known as money for internet or magic internet money. People use this currency for their regular payments like buying a coffee at a coffee shop or purchasing stuff online. But you can’t have bitcoin money in your regular wallets as you can only store your balances in public ledger or in software called wallet.
Well, bitcoin money is the first example of crypto currency, verified by a plenty of computing powers. And the most interesting thing about using bitcoin currency is that you don’t need to have any kind of bank account or central money planner for this. Moreover, in various countries, for tax purposes bitcoins are usually considered as property rather than money or currency.
Furthermore, the only thing that differentiates bitcoin money from any other currency is that it is created, distributed, traded with great profits and is stored using a ledger network system known as blockchain.
Well, the most frequently asked question about bitcoin is that can it be exchanged for real money?
So, the answer is yes, you can get the real cash in return for your bitcoins but you can only get cash out of your bitcoin balance in your bank account and you can withdraw them later. But the bank account must be the same account that you have already used for buyingbitcoin money.