What is bit coin? Is it illigal in nepaal??

What is Bitcoin?
Bitcoin is a cryptocurrency. Cryptocurrency is a currency that used inside the internet. It is digital money. By the medium of Cryptocurrency secure online transaction are made using cryptography. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.

Bitcoin, was introduced in 2009 and was the first decentralized cryptocurrency created by group or individual known as Satoshi Nakamoto.It is peer to peer system where transaction take place between users directly,without any intermediary.These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.

Bitcoin transaction is illegal in Nepal. There isn't any authorized concern to made bitcoin transaction in Nepal . some dealers of bitcoin have been arrested by Nepal police. Some sellers of bitcoin stopped bitcoin transaction after the news was announced. The main cause that bitcoin is considered as illegal must be national currencies getting invested on bitcoin generated by foreign and the economy gets unbalanced inside the country.