Getting To Know Bitcoin

Bitcoin was introduced to the world in 2009 by an anonymous person (or group) under the name Satoshi Nakamoto

Bitcoin is a virtual currency that allows International and local money transfers in an unprecedented speed. Bitcoin avoids the bottlenecks of transferring funds that we normally use today and is the basis for transferring funds quickly and conveniently across the world as easily as you would pay in the local convenient store.

Bitcoin trade is free or to be more accurate nearly free. In most types of transactions you will not be required to pay a fee. In some cases you have to pay a fee, but this fee is very little and is practically insignificant. This low commission is partly because the commission is given to a private Bitcoin miner and not to a central bank. Anyone can mine Bitcoin and therefore creating a competitive market with even lower fees.

Bitcoin is a secure protocol in the same way that the most advanced armies guarding their information. Using Bitcoin, owners can protect their investments in a way that is not made ​​possible with money that is placed in a bank. No one, for example not even the cellular company with a signed contract and account permissions, can charge your account with payments acceding the agreed instalments on your behalf without your permission at that exact moment.

Bitcoin Features

Bitcoin allows the people using it a certain level of anonymity if they wish for it. As well as an unprecedented degree of tranaction transparency. As long as you chose not to associate yourself with a certain Bitcoin address it is impossible to know that the Bitcoins in that address belong to you. However, if you choose to make a Bitcoin address public in a way that it is known to belongs to you, anyone with an Internet connection can keep track of your income and expenses. This couls prove very effective to a publicly traded company that needs to show transparency to the public. Bitcoin suffered criticism due to excessive anonymity which governments would prefer its citizens didn’t have.

The use of Bitcoin with smart phones allows making payments directly from your mobile phone with outstanding simplicity. With NFC technology and QR code scanning you can make immediate and secure payments via your mobile phone.

This was a brief overview on some of the less technical traits and more economical of Bitcoin. For more information look for the guides and articles on our site.

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