Bitcoin: a beginner’s guide for entrepreneurs

  |   18 October, 2014   |   980   |   3980

Bitcoin emerged in 2009; it is a peer-to-peer currency created solely by software. It means that one individual or business can pay another without the need to involve a bank. Transactions can take place anywhere in the world and can be concluded very quickly - usually in less than 10 minutes and can potentially involve very large amounts. At the time of writing, there were over 13m Bitcoins in circulation and individual coins were worth about £240 each. Each of these coins can be divided into units of up to eight decimal places with the smallest unit known as a Satoshi (0.00000001 of one Bitcoin).