What is a Bitcoin: A little few things about the Digital Currency

Bitcoin is a new digital currency that was first invented in the year od 2009 by an unknown person using the alias Satoshi Nakamoto. The transactions were made without using any middleman. This means that no bans were involved. Bitcoins can be used to book hotels, buying groceries, shop furniture and more. However the prices of a bitcoin- earn free bitcoin said to be skyrocketed into thousands in the year of 2017.

Why Choose Bitcoins?

As discussed above bitcoins can be used to buy merchandise anonymously-additionally, when it comes to the international payments using this cryptocurrency is an easiest and cheapest method to go for. This is due to the fact that by using bitcoins you are tied to any country or subject to any sort of regulations.Many companies may like them because there are no extra charges involved, and some would just buy them as an investment, wishing that they will go up in terms of their value.

How can you acquire Bitcoins?

Buy on an Exchange: There are several places in the market named as BITCOIN EXCHANGES, that allows people o buy and sell the bitcoins using the different currencies. But sadly the security involved in the process can be a little concern here. There were millions of dollar stolen from an exchange when the system was hacked back in the year of 2016. 

Mining: Many people tend to use mining Bitcoins by using their computers; this is done by solving complex puzzles- how to get free bitcoins. This is how bitcoins are created. Presently, a winner is said to be rewarded with around 12.5 bitcoins in every 10 minutes.

Owning the Bitcoins: According to the technicians, the bitcoins are stored in a digital wallet which exists either on the cloud system or in the computer of the user- this wallet is a type of virtual bank account that enables the users involved in it to earn, send and receive the bitcoin and pay for the goods or can also save their digital money if they wish to. Unlike the normal bank account, bitcoin wallets are not insured by any government authority.