In 2009 bitcoin currency was created by an unknown person. He used alias Satoshi Nakamoto. Transaction bitcoin are made without middle men that means no banks. No need to give your name and no transaction fees. Merchants start to accept the currency. Can anyone buy any thing in any time! By Bitcoins sell you can buy merchandise anonymously. Furthermore, international payments are cheap and easy because bitcoins are not relate to any subject to regulation or country. Small businesses could accepted them because of no credit card fees. People just buy bitcoin sell as an investment, hoping that it’s value will go up oneday. Acquiring Bitcoins Buy on an Exchange Many marketplaces called “bitcoin exchanges” allow persons to marchandise bitcoins using several currencies. Mt. Gox is the biggest bitcoin exchange. Transfers Mobile apps or computers help people to send bictoins to each other. It is like sending cash in digital way. Owning Bitcoins Digital wallet exist in the users computer or in the clloud. Bitcoins are stored in it. The wallet is a type of virtual bank account which allows users to receive or send bitcoins, save money or pay for merchandise. Unlike bank accounts, bitcoin digital wallets are not insured by the FDIC. Cloud wallets: Servers have been hacked. Companies have fled with clients’ Bitcoins. Computer wallet: can be deleted accidentally. Viruses could destroy them. Anonymity Each bitcoin transaction is recorded in names of sellers and buyers are never revealed – only their wallet IDs. That keeps bitcoin users’ transactions private and lets them sell or buy anything without tracing it back. That’s why it has become the choice for people online buying goods. Future in question No one knows the future of bitcoin. It is unregulated, but that could change. Several governments are concerned about their lack of control over the currency and taxation. 28296
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