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Bitcoin is a cryptocurrency which is in a form of electronic cash. It is a digital and global currency. It allows to send and receive money through internet. It gives an advantage to the user to send and receive money without getting linked to a real identity. But this exchange is secure through the mathematical field of cryptography which is the basis of bitcoin’s security.

Bitcoins were invented by Satoshi Nakamoto and they are created from the process of mining. Transactions are unit verified by network nodes through cryptography and recorded in an exceedingly public distributed ledger known as a blockchain. According to the research produced by the University of Cambridge, there were 2.9 to 5.8 million users using cryptocurrency wallet. For a long time, bitcoins are criticized for its uses in an illegal transaction, its high electricity consumption, price volatility, and thefts from exchanges. Many regulatory services or agencies have issued investors alert against bitcoins. Bitcoins do not keep the track of users; it just keeps track of addresses where the money is. Each address has two important keys to cryptographic information which are:

• Public key
• Private key