Introduced in 2009, Bitcoin is an online, digital currency which doesn’t have a central bank or ownership and is often referred to as a peer-to-peer payment system. Bitcoins are generated through a process known as "mining." This involves using specific software to solve maths problems. When a maths problem is solved, the "miner" is rewarded with a Bitcoin. These Bitcoins can then be exchanged for goods and services. Although the number of companies who accept Bitcoins is currently limited, as the currency becomes more well known the number is growing. Bitcoins can also be bought using other currencies. Bitcoin is also a "crypto-currency" which means it uses cryptography to drive the production of Bitcoins and Bitcoin transactions. This makes the currency extremely secure. The "block chain," which is effectively a public book of accounts, is used to check that genuine Bitcoins are being exchanged in all transactions. Bitcoin benefits from no limits of exchange as users can perform instant transactions at an
Bitcoin to Danish krone conversion
this page last updated:: Thr 28 Sep 2017Bitcoin to Danish krone table - Click here for table options
The name "Krone" is translated to "Crown" in English. The name øre is from the Latin word aureus which was a gold Roman coin. Originally there were many øre coins but due to their decreased value, they have been phased out. The Faroe Islands use their own version of the Danish Krone which is called the Faroese Króna. The currency is worth exactly the same as the Danish Krone and uses Danish coins, but has its own banknotes.