What is Bitcoin?
Introduction to the world of Bitcoins
Need to know about Bitcoins
Well, lets put it into English for you; Bitcoin is the first decentralized digital currency, also known as a crypto currency which was invented by Satoshi Nakomoto.
Bitcoin can be sent digitally through the internet and to avoid fraud, each transaction is verified by three independent bitcoin machines before a transaction is successful. Compared to other alternatives, Bitcoin has a number of advantages:
• Bitcoins are transferred directly from one person to another via the Internet with no middleman like a bank or clearing house, this means that the fees are much lower or even free.
• You can Use Bitcoin in almost every country in the world
• Your Bitcoin account can never be frozen
• There are no prerequisites or arbitrary limits
• Transactions takes seconds, not days, to clear
Several Bitcoin Currency Exchanges exist where you can buy bitcoins with Euro, US Dollar, South African Rand and more. Once you purchase the Bitcoins the funds are kept in your digital wallet on your computer or any other online wallet you wish to move the Bitcoins to, such as a cell phone, flash drive, or any mobile device. Sending Bitcoins to someone is as simple as sending an email and you can purchase almost anything with Bitcoin.
The Bitcoin Network is secured by individuals called Miners; they are called miners because they use computer energy to verify transactions and earn Bitcoins. After transactions are verified by 3 individual miners they are recorded in a transparent public ledger. Bitcoin opens up a whole new platform for Innovation, the software is completely open source and anyone can review the code. Bitcoin is changing finance the same way the web changed publishing!
When everyone has access to a global market, great ideas start to flourish. Businesses can minimize transaction fees by using Bitcoin; it doesn’t cost anything to start accepting them and it’s simple and easy to set up. There are no chargebacks and you will get additional business from the Bitcoin Community – Start trading in Bitcoin today and enjoy the benefits!