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A Digital Currency.
Bitcoins are a kind of digital currency employed in a peer-to-peer payment model. They are developed as users record and check payments for a transaction fee. But the truth is, bitcoins are not backed by gold or paper currency, and happen to be subsequently valueless until you sell them, convert them to normal currency, or use them to purchase a product or service. Prior to you may easily conduct a transfer and send bitcoins to somebody else, you'll need to select and set up a Bitcoin wallet and collect bitcoins by either receiving them from someone else, shopping for them, or mining intended for new bitcoins.
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