With reference to lsquo Bitcoins rsquo sometimes seen in the news which of the following statements ...........

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With reference to ‘Bitcoins’, sometimes seen in the news, which of the following statements is/are correct?

1. Bitcoins are tracked by the Central Banks of the countries.

2. Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address.

3. Online payments can be sent without either side knowing the identity of the other.

Select the correct answer using the code given below.

1 and 2 only

2 and 3 only

3 only

1, 2 and 3

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Explanation:

Bitcoin a form of virtual money, can’t be tracked by a central bank of a country and its transactions are just based on the address of bitcoin user and don’t require the identity to process the transaction. More bitcoins can be generated but have its upper limit above which no more coins can be created. Generally the value of bitcoin currency increases with time.

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