Beginners’ Guide to Own Bitcoin Cryptocurrency

Bitcoin Cryptocurrency is buzzing everywhere, whether you are on the internet or any media. It really is one of the most exciting and craziest things happened that makes existence in the last few years only. More importantly, you can earn an awesome return by bitcoins trading or it is possible to keep it for a long term.

You may be heard about Stocks, Commodities, Forex, and now a fresh currency called Bitcoin trading that impacts greatly on our lives. In this beginner’s guide to Bitcoin cryptocurrency, you will get to know the A B C of Bitcoin.

About Bitcoin Cryptocurrency

The emergence of Bitcoin continues to be not known but a paper was published in October 2008 under the pseudonym Satoshi Nakamoto held from Japan. His identity continues to be unknown and believed to have approximately one million bitcoins valued more than $6 billion USD as of September 2017.

Bitcoin is a digital currency popularly referred to as crypto currency and is free from any geographical boundary. It isn’t regulated by any government and all you have to is an web connection. As a newbie, Bitcoin technology may confuse you and a little bit tough to know about it. However, I will assist you to dig it deeper and how also you can do your first Bitcoin trading at ease.

Bitcoin Cryptocurrency works on blockchain technology that is a digital public ledger and shared by anyone in the world. You can find your transactions here whenever you do any Bitcoin trading and anyone may use the ledger to verify it. The transaction done will be completely transparent and is verified by blockchain. Bitcoin and other cryptocurrency are the parts of blockchain and are an awesome technology that works on the internet only.

Key Terms LINKED TO Bitcoin Cryptocurrency

Before you prepared to own your first Bitcoin, it is better to know the key terms related to bitcoins. It is also termed as BTC that is a part of bitcoin and 1 bitcoin equals 1 Million bits. With the emergence of bitcoins, various other alternative cryptocurrencies also evolved. They are popularly called Altcoins and includes Ethereum(ETH), Litecoin(LTC), Ripple(XRP), Monero(XMR) and many others.

XBT and BTC will be the same things and commonly abbreviated for bitcoin. Mining is another term used a lot and it is actually an activity done by computer hardware for the Bitcoin networks.

Things You Can Do With Bitcoin

It will be easy to trade, transact, accept and store bitcoin. You can send it to friends and family, request from the friend and store it in your digital wallet. Even, now you can top-up your mobile/DTH directly by paying through bitcoin.

Transaction cost is low compared to PayPal, Credit cards, and other online intermediaries. Furthermore, in addition, it protects your privacy that could get leaked on the net while using credit cards. It is very secure and nobody can seize or steal coins. Due to its transparency in the system, additionally it is not possible to manipulate because of the shared public ledger. It is possible to verify transaction from anywhere and at any time.

Demand is likely to rise as the total production of bitcoins is usually to be limited to 21 million only. Japan has recently legalized it and other countries may follow it soon and the purchase price may hike further.

I will be covering more on Bitcoins in detail in the upcoming days where become familiar with great stuff of bitcoin trading. It is possible to comment your views and ask anything relevant to bitcoins.

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