6 reasons to care about Bitcoin
What is it, exactly?
Sen. Tom Carper, D-Del., hosted a hearing Monday on Bitcoin, and admitted the virtual currency “confused” him.
So to be clear, Bitcoin is a payment method that isn’t backed by any central bank, but is traded on exchanges or privately. Practically speaking, a user would set up a “wallet” on a computer or mobile device and buy “Bitcoins” using cash, a checking account or a credit card. Users send and receive Bitcoin payments directly to a buyer or seller, avoiding transaction fees and often allowing for anonymity between buyers and sellers.
Here are six reasons you should care about Bitcoin.
By Liz Skinner