Bitcoin Cryptocurrency is in vogue all over the world, whether you are on the internet or in another medium. It's one of the most exciting and crazy things that has happened in the last few years alone. More importantly, you can achieve impressive returns with bitcoin trading, or you can keep it in the long run.
You may hear about Stocks, Commodities, Forex, and now a new currency called Bitcoin trading that has a big impact on our lives. In this beginner's guide to Bitcoin cryptocurrency, you will learn the Bitcoin language A B C.
About Bitcoin Cryptocurrency
The emergence of Bitcoin is not yet known, but an article was published in October 2008 under the pseudonym Satoshi Nakamoto, from Japan. Its identity is still unknown and would count about one million bitcoins worth more than 6 billion US dollars in September 2017.
Bitcoin is a digital currency known as cryptocurrency and is free from any geographical boundary. This is not regulated by any government and all you need is an internet connection. As a novice, Bitcoin technology can confuse you and be a bit difficult to know. However, I will help you dig deeper and how you can also do your first bitcoin trading at ease.
Bitcoin Cryptocurrency works with blockchain technology, a digital public registry shared by all users. You'll find your transactions here every time you make Bitcoin transactions and everyone can use the registry to check it. The transaction will be completely transparent and will be checked by blockchain. Bitcoins and other crypto-currencies are part of the blockchain and are an impressive technology that only runs on the Internet.
Key terms related to Bitcoin crypto-currencies
Before owning your first Bitcoin, it is best to know the key terms related to bitcoins. It is also called BTC which is part of bitcoin and 1 bitcoin equals 1 million bits. With the emergence of bitcoins, other alternative cryptocurrencies have also evolved. They are commonly called Altcoins and include Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Monero (XMR) and many others.
XBT and BTC are the same things and usually abbreviated for bitcoin. Mining is another widely used term and it is actually a process performed by computer hardware for Bitcoin networks.
Things you can do with Bitcoin
You will be able to trade, process, accept and store bitcoins. You can send it to your friends, ask a friend and save it in your digital wallet. Even now, you can charge your mobile / DTH directly by paying by bitcoin.
The transaction cost is low compared to PayPal, credit cards and other online intermediaries. In addition, it also protects your privacy from Internet leakage when using credit cards. It is extremely secure and no one can grab or steal coins. Because of its transparency in the system, it is also impossible to manipulate because of the shared public ledger. You can check the transaction from anywhere and anytime.
Demand is expected to increase, with total bitcoin production limited to only $ 21 million. Japan has already legalized it and other countries could follow it soon and the price could still rise.
I will cover Bitcoins in more detail in the next few days, where you will learn some great things about bitcoin trading. You can comment on your point of view and ask all about bitcoins.
If you have found the Beginner's Guide to Bitcoin Cryptocurrency useful, share it and like it on social networks.