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A crypto currency is a digital or virtual currency that uses cryptography for security. A crypto currency is difficult to counterfeit because of this security feature. A defining feature of a crypto currency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. In this paper I have assessed the age of crypto currency and explained bit coins birth and early development and also described the advantages and disadvantages of using bitcoin. The list of merchants that accept Bitcoin is steadily lengthening. We can now buy plane tickets (Expedia), furniture and web publishing services (WordPress) with Bitcoin. However, before we rush out and cash in your dollars for Bitcoin, remember that Bitcoin has a long way to go before it’s a legitimate currency on par with the U.S. dollar, euro, or pound.