You Need To Know!
Bitcoin isn’t owned by anyone. Think of it like email. Anyone can use it, but there isn’t a single company that is in charge of it. Bitcoin transactions are irreversible. This means that no one, including banks, or governments can block you from sending or receiving bitcoins with anyone else, anywhere in the world. With this freedom comes the great responsibility of not having any central authority to complain to if something goes wrong.
- The digital currency that’s recently been thrust into the spotlight.
- Bitcoin was the first of what have become known as "cryptocurrencies".
- These are forms of digital money that use encryption to secure transactions and control the creation of new units.
- The plan was to make a form of currency not controlled by governments or businesses, that you could trade globally with no cost and without having to reveal your identity.
- Cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.
Features that distinguish it from other cryptocurrencies. The Bitcoin protocol is not just about sending money from A to B.
It has many features
The average block time can actually be slightly shorter or longer depending on if the total hash power of the Bitcoin network is growing or shrinking.
It provides users with top level of protection against most common frauds like chargebacks or unwanted charges. Because of the Security Users can encrypt their wallet and have complete control over their money. So there is no chance of any type of Fraud.
Multipal coin exchange support like BTC, BCH, LTC etc.
Coin exchanges are places where you can trade (buy/sell) cryptocurrencies, in exchange for each other and/or traditional (fiat) currencies.
Support Web, Android, Html5, PC.
All Bitcoin transactions are public and transparent to all users. The Block chain stores all transaction details. Where user can any time verify.
Bitcoin is an amazing tool that helps businesses and organizations bring effectiveness and freedom into their current financial workflow.
The industry is seeing unprecedented institutional interest for the first time in Bitcoin’s history. I’ve been amazed that the strongest believers in cryptocurrency often start out the most skeptical. It’s a healthy skepticism. But at some point the perception shifts, and for many institutions.
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No Central Authority
There is no Central Bank or an Entity that manages the currency, but the Crypto-currency market is derived and powered by the users, the market participants
Bitcoin's most important characteristic is that it is decentralized. No single institution controls the bitcoin network. It is maintained by a group of volunteer coders, and run by an open network of dedicated computers spread around the world. This attracts individuals and groups that are uncomfortable with the control that banks or government institutions have over their money.
The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software.
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