BITCOINSAn Introduction

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What is Bitcoin?Satoshi Nakamoto, founded bitcoin the first ever Digital Currency till date.

It Can be traded, exchanged and holds a value in the market.

An electronic payment system based on mathematical proof.

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CHARACTERISTICS OF BITCON

Bitcoin is Decentralized

Its Easy to Setup

Bitcoin is Anonymous

It’s Completely Transparent to Everyone

Infinitesimal Transaction Fees Processing is Very Much Fast It’s Non-Repudiable

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WHAT IS BITCOIN BASED ON?

Conventional currency has been based on gold or silver. Theoretically, you knew that if you handed over a dollar at the bank, you could get some gold back (although this didn’t actually work in practice). But bitcoin isn’t based on gold; it’s based on mathematics.

Around the world, people are using software programs that follow a mathematical formula to produce bitcoins. The mathematical formula is freely available, so that anyone can check it.

The software is also open source, meaning that anyone can look at it to make sure that it does what it is supposed to.

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Why use BITCOIN ?

GOOD REASONS WHY IT’S WORTH TAKING THE TIME TO GET INVOLVED IN THIS VIRTUAL CURRENCY.6

Reason 1

Reason 2

Bitcoin is FastWhen you pay a cheque from another

bank into your bank, the bank will often hold that money for several days, Bitcoin transactions, however, are generally far faster.

There are no charge-backsOnce bitcoins have been sent, they’re

gone. A person who has sent bitcoins cannot try to retrieve them without the recipient’s consent.

Reason 3

Reason 4

Central governments can’t take it away

The currency is decentralized, you own it. No central authority has control, and so a bank can’t take it away from you. For those who find their trust in the traditional banking system unraveling, that’s a big benefit.

People can’t steal your payment information from merchantsBitcoin transactions, however, don’t require you to give up

any secret information. Instead, they use two keys: a public key, and a private one. Anyone can see the public key (which is actually your bitcoin address), but your private key is secret.

Reason 5

Reason 6

You own itWith bitcoin,you own the

private key and the corresponding public key that makes up a bitcoin address. 

You can create your own moneyYou can certainly buy bitcoins on the

open market, but you can also mine your own if you have enough computing power.

For Buying Cloud Mining Server : https://www.gainbitcoin.com To Buy/Sell Bitcoins : https://thebitex.com