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Bitcoin is a de-centralised, digital currency that allows virtually free transfers to anywhere in the world using peer-to-peer technology without the need for a bank or other third party. Bitcoin allows its users to send secure, instant payments either over the internet or via mobile phone. Just as e-mail allows free letters to be sent and skype allows free phone calls.

While still in its early stages, adoption has been good and is continuing to grow as more people begin to see the benefits of using Bitcoin. Some enthusiasts even see Bitcoin (or some variant) eventually overtaking traditional currencies like the pound, euro or dollar for everyday transactions.

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