Cryptocurrencies can be spent for different purposes and the best part is, all transactions are completed online! There are 3 different transactions that can be performed when using cryptocurrency:
1. Bitcoin Trading
Bitcoin trading can be very profitable for both professionals and beginners.
The market is new, where arbitrage and margin trading is
There are over 800 cryptocurrencies, but we will only discuss the top 5 prominent currencies in the market.
The 5 cryptocurrencies are Bitcoin, Ethereum, Litecoin, Monero and Ripple. For this report, we are going to cover only two of the Cryptocurrency - Bitcoin and Ethereum.
This is the first ever cryptocurrency invented
The reason why cryptocurrencies are such in demand right now is because Satoshi Nakamoto successfully found a way to build decentralized digital cash system. What is a decentralized cash system?
A decentralized system means the network is powered by its users without having any third party, central authority or middleman controlling
A bitcoin wallet is software that connects you to the bitcoin network. This is the first step in acquiring bitcoin. You know how it is when you send someone an email. You have to have an email address, a password, and a way of connecting to the network. It can
The size of the bitcoin block has bothered a number of developers, miners, and others involved in the popular cryptocurrency. It seems that the limit of 1 megabyte as the block size means that only 7 transactions can be handled in one second. Because of the number of transactions increasing,
We learn from our mistakes. In the world of bitcoin, there have been some real doozies of mistakes. Anyone who has ever lost or misplaced a password can relate to the common problem of bitcoin owners who have lost their private key. There is no second chance of recovering from
The images on the internet show bitcoin mining in a form reminiscent of the old gold rush miners, pickaxes digging out the gold. The actual mining is not quite like that and it changes over time.
Bitcoin miners are a special necessity in the bitcoin network. When a bitcoin is spent,
There is a slight difference between how to buy bitcoins and where to buy them. How to is all about the wallet and exchanges and the typical sources. Where to buy bitcoins digs a little deeper into some of the alternatives to exchanges and setting up your own shop that
Forking is when the basic protocol of bitcoin has been changed and suddenly the blockchain splits. There is a fork in the road.
One of the limitations of bitcoin that seems to plague many users is the size cap on the block. One megabyte seems to be too small to make
The first step in buying bitcoins is acquiring a wallet. This is what the software that contains your bitcoins is called - a wallet. It is this wallet that allows you to join the bitcoin world.
Think of it like getting a bank account. You need it to participate in the