Whatever you think about ground-breaking Bitcoin, and it volatility that attracts traders. Let us know how you can trade free bitcoin for the beginners.
What’s a Bitcoin?
BTC or Bitcoin is the digital currency, with the transactions stored on the public and digital ledger. It is known as the “cryptocurrency” since it uses the cryptography for securing the transactions, and making Bitcoin tough to counterfeit. Not like central banking systems, the cryptocurrency works over the decentralised systems generally based on the blockchain technology that works as the distributed ledger for storing the information about the crypto transactions. Blockchain will be enforced by the network of computers across the world & Bitcoin can be transferred through P2P exchanges.
Bitcoin came in existence in 2008, and when whitepaper entitled “Bitcoin: The P2P Electronic Cash System” got released by the “Satoshi Nakamoto”. After 3 years, Nakamoto sent BTC developer Mike Hearn one brief email saying “I have moved to a few other things,” that future of BTC was in the “good hands,” and disappeared. Their identity is still one big mystery.
From the launch Bitcoin is joined by thousand of cryptocurrencies, called as the altcoins, like Ethereum & Litecoin. The new ones are also appearing every time.
How can you buy & sell Bitcoin?
Process of Bitcoin trading is easys.
- Firstly, exchange the cash, called as the fiat money for the Bitcoin using the crypto exchange company. Exchange creates hot and coldwallet to store the coins.
- Hot Wallets enable you to access the funds easily, as they are online, they are vulnerable to any attack and less secure.
- Cold Wallets are offline till you select to access it. They do not give simple access to funds within them as well as are tough to attack.
- Bitcoin wallet you select depend over how often you wish to access the funds.