What you need to know about bitcoin

Bitcoin is suitable for the implementation of any financial operations ranging from replenishment of balance of mobile phone and ending with the sale of the property. This currency instantly and securely can be sent to anyone in the world.

Earning bitcoins is most often carried out with the help of mining. Mining is the process of ensuring the protection of transactions from returns and generate new bitcoins by using your own computing power. Simply saying, in order to earn therefore, you will need to purchase specialized equipment, the cost of which may exceed 20 thousand dollars. Less advanced in technical terms, users can earn money on bitcoin faucets. They represent ad inventory, after viewing them, the user receives a profit.

The features of bitcoin and difference from other e-currencies

  1. Decentralizing. The Bitcoin network operates thanks to the activity client programs, i.e. wallets and the block chain, playing the role of the database and stored on the user’s computer system.
  2. The network is not controlled. The principle of operation of the blockchain – the equality of all participants in the system, hence the need any control center is completely eliminated. There is a small сommission, which is paid for some transactions but their size is minimal and almost invisible.
  3. Transparency of calculations. Any payment can be traced to the moment of generation of coins, and it is always in the system database. In the system, you can view all transactions performed by a user or sent by him/her.
  4. The user chooses the degree of their participation. You can make a small mobile or online wallet, if bitcoin will be used exclusively to pay for small purchases. If the user wants to view the history of transactions or to make large trades using this system, he can install the official Bitcoin Core client or a hardware bitcoin wallet with reinforced protection.
  5. A high degree of protection. Each new unit of the currency increases the processing power needed for miners to calculate chains. In the end, with increasing length of the chain is complicated by the network itself and decreases the possibility of its breaking.
  6. Calculations can be made anonymously. The account number is not associated with its owner and the user does not need to provide any documents for opening an account.