Bitcoin payments termed as an automated payment processing system for bitcoin currency. In this merchants can accept bitcoins as a form of online payment.
Bitcoin was created by Satoshi Nakamoto.
What is Bitcoin?
Bitcoin is a form of digital currency which is created and held electronically. No one can control it.
You can use Bitcoin without any technical knowledge.
How does Bitcoin work?
First you have to installed a bitcoin wallet on your computer or mobile phone. After installing the bitcoin, it will generate your first Bitcoin address. You can further create more bitcoin address as per your need.
You can disclose your bitcoin addresses to the sender for online transaction. It works much similar like an email but the Bitcoin addresses are used only once.
Bitcoin transactions are sent & received through electronic bitcoin wallets and are digitally signed for security. All the transaction gets included in the block chain.
Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions. This private key provides a mathematical proof that they have come from the owner of the wallet.
According to a Cambridge University research 2017, out of 5.8 million cryptocurrency users most of them are using bitcoin.