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What is Bitcoin?

Bitcoin is a decentralized digital currency introduced in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It operates on a blockchain, enabling secure and transparent transactions without the need for intermediaries. Bitcoin has a fixed supply of 21 million coins, which makes it a deflationary asset. Its decentralized nature ensures that no single entity controls the network, making it resistant to censorship and centralization.

Bitcoin's Key Features:

  • Decentralized Peer-to-Peer Network
  • Blockchain Technology for Transparent Transactions
  • Limited Supply: Maximum 21 Million Coins
  • Security through Cryptography
  • Global Accessibility and Borderless Transactions

Bitcoin's Use Cases:

Bitcoin is used as a digital currency for online transactions, remittances, and as a store of value. It has sparked the development of a broader ecosystem of cryptocurrencies and blockchain-based applications. Additionally, it is used for speculative investment, hedging against inflation, and as a means of transferring wealth across borders without the need for traditional financial institutions.

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Accounting Features Supported for
Unrealized G/L & Impairment Calculation
Reconciliation & Sanity Checks
DeFi Protocols
NFTs Valuation
Automated Rule Categorization
Integration to ERPs, QBO, Xero, Netsuite, etc.

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