Heard a lot about Bitcoins and wondering what they are?
Well, this is your beginner’s guide to Bitcoins, the most commonly used cryptocurrency and how you can become a part of this bandwagon.
We are also going to discuss everything related to Bitcoin investments here such as Bitcoin Wallets, Blockchain, and concept of Bitcoin Mining.
Understanding Bitcoin
Bitcoin is a new form of digital currency that seeks to change how online business is done to give the investors financial freedom in a true sense. It consists of digital encrypted transactions safely performed on a public ledger known as the blockchain. Unlike the traditional modes of payments such as PayPal, Visa/ MasterCard, Banks controlling the usual transactions, Bitcoin investment is largely governed by a close-knit community.
In simpler terms, bitcoin investment is like having cash in a wallet with the only difference that it exists in digital form instead of physical one. Another important feature of the bitcoin investment is the fact that it’s decentralized and is not backed by any government or financial institution.
Is it worth investing?
Definitely!
Bitcoin investment give an excellent opportunity to generate a passive source of income and allow the investors enjoy the true financial freedom and a chance to enjoy a better lifestyle. Bitcoin is, in fact, the largest emerging global Internet-based forces in recent years. Some of the other features of the Bitcoins are-
It is one of the most secure and stable crypto-currencies in the world today
Bitcoin investments are easy to turn it into real money generating opportunities and for creating long-term wealth
Bitcoin investment is the smartest way to monetize this cryptocurrency in order to achieve great financial freedom and better lifestyle without any external intervention whatsoever
History of Bitcoins
It is believed that the Bitcoin was created by a developer under the pseudo name Satoshi Nakamoto.
The idea of the Bitcoin was conceptualized when the creator identified certain problems with existing payment systems and wanted to find alternative ways to address them. When Nakamoto came up with the idea of bitcoin, decentralization played a major role in bringing the bitcoin concept alive and worth exploring it as an alternate mode of digital investment.
Decentralization concept was based on the idea that every single investor is a part of the bitcoin ecosystem and will contribute to it in their own ways. Instead of relying on the government or other centralized agencies, the Bitcoin community took the onus of managing the transactions on themselves.
written by: Brendin Kleinsmith @cryptoincomedecoded