BTC Cryptocurrency is buzzing all over the world, whether you are on the internet or any media. It is one of the most exciting and craziest things happened that comes into existence in the last few years only. More importantly, you can earn an awesome return by bitcoins trading or you can keep it for a long term.
You may be heard about Stocks, Commodities, Forex, and now a new currency called BTC trading that impacts greatly on our lives. In this beginner’s guide to BTC cryptocurrency, you will get to know the A B C of BTC.
About BTC Cryptocurrency
The emergence of BTC is still not known but a paper was published in October 2008 under the pseudonym Satoshi Nakamoto held from Japan. His identity is still unknown and believed to have approximately one million bitcoins valued more than $6 billion USD as of September 2017.
BTC is a digital currency popularly known as cryptocurrency and is free from any geographical boundary. It is not regulated by any government and all you need is an internet connection. As a newbie, BTC technology may confuse you and a little bit tough to know about it. However, I will help you dig it deeper and how you can also do your first BTC trading at ease.
BTC Cryptocurrency works on blockchain technology which is a digital public ledger and shared by anyone in the world. You will find your transactions here whenever you do any BTC trading and anyone can use the ledger to verify it. The transaction done will be completely transparent and is verified by blockchain. BTC and other cryptocurrency are the parts of blockchain and are an awesome technology that runs on the internet only.
Key Terms Related To BTC Cryptocurrency
Before you ready to own your first BTC, it is better to know the key terms related to bitcoins. It is also termed as BTC which is a part of BTC and 1 BTC equals 1 Million bits. With the emergence of bitcoins, some other alternative cryptocurrencies also evolved. They are popularly called Altcoins and includes ETH(ETH), Litecoin(LTC), Ripple(XRP), Monero(XMR) and many others.
XBT and BTC are the same things and commonly abbreviated for BTC. Mining is another term used a lot and it is actually a process done by computer hardware for the BTC networks.
Things You Can Do With BTC
You will be able to trade, transact, accept and store BTC. You can send it to your friends, request from a friend and store it in your digital wallet. Even, now you can top-up your mobile/DTH directly by paying through BTC.
Transaction cost is low as compared to PayPal, Credit cards, and other online intermediaries. Furthermore, it also protects your privacy that may get leaked on the internet while using credit cards. It is extremely secure and nobody can seize or steal coins. Due to its transparency in the system, it is also not possible to manipulate because of the shared public ledger. You can verify transaction from anywhere and at any time.
Demand is likely to rise as the total production of bitcoins is to be limited to 21 million only. Japan has already legalized it and other countries may follow it soon and the price may hike further.
I will be covering more on Bitcoins in detail in the upcoming days where you will learn great stuff of BTC trading. You can comment your views and ask anything relevant to bitcoins.
If you found this beginner’s guide to BTC Cryptocurrency useful, then do share and like it on social networks.