Cryptocurrency Bitcoin buzzes around the world, whether you are on the internet or any media. This is one of the most interesting and craziest things that happened in recent years. More importantly, you can get a remarkable return by Bitcoined Trading or you can save it for the long term.
You can hear about stocks, commodities, forex, and now a new currency called Bitcoin Trading which greatly affects our lives. In this beginner’s guide for Bitcoin Cryptocurrency, you will get to know a B C Bitcoin.
About Cryptocurrency Bitcoin.
The emergence of Bitcoin is still unknown but a paper published in October 2008 under the pseudonym of Satoshi Nakamoto was held from Japan. His identity is still unknown and believed to have around one million Bitcoin worth more than $ 6 billion USD in September 2017.
Bitcoin is a digital currency known as Cryptocurrency and free of any geographical limits. This is not regulated by any government and all you need is an internet connection. As a beginner, Bitcoin technology can confuse you and a little difficult to find out. However, I will help you dig deeper and how you can also trade your first bitcoin calmly.
Bitcoin Cryptocurrency works on Blockchain technology which is a digital public book and shared by anyone in the world. You will find your transaction here every time you trade Bitcoin and anyone can use a ledger to verify it. Transactions carried out will be completely transparent and verified by Blockchain. Bitcoin and other cryptocurrency are part of Blockchain and is an extraordinary technology that runs on the internet.
Key provisions associated with bitcoin cryptocurrency
Before you are ready to have your first bitcoin, it is better to know the main requirements associated with Bitcoin. This is also referred to as BTC which is part of Bitcoin and 1 bitcoin equal to 1 million bits. With the appearance of Bitcoin, some other alternative cryptocurrency also evolved. They are popularly called Altcoin and include Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Monero (XMR) and many others.
XBT and BTC are the same and generally abbreviated Bitcoin. Mining is another term used a lot and is actually a process done by computer hardware for bitcoin networks.
Things you can do with Bitcoin
You will be able to trade, transact, receive and store Bitcoin. You can send it to friends, requests from friends and save them in your digital wallet. In fact, now you can add your cellphone / DTH directly by paying Bitcoin.
Low transaction costs compared to PayPal, credit cards, and other online intermediaries. Next, it also protects your privacy that might leak on the internet when using a credit card. It’s very safe and no one can seize or steal coins. Because of transparency in the system, it is also impossible to manipulate because the public book is shared. You can verify transactions from anywhere and anytime.
Demand tends to increase because the total production of Bitcoin must be limited to 21 million. Japan has legalized and other countries can follow it immediately and prices may be climbing further.
I will discuss Bitcoin more detail in the coming days where you will learn a lot of Bitcoin trading. You can comment on your views and ask for something relevant to Bitcoin.