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Bitcoin Cryptocurrency is buzzing around the world, whether you are on the web or any media. It is the most exciting and craziest things happened that comes into existence in the last few years only. More importantly, you can generate an incredible return by bitcoins trading or it is possible to keep it for a long term.

You may be found out about Stocks, Commodities, Forex, and today a new currency called Bitcoin trading that impacts greatly on our lives. In this beginner’s guide to Bitcoin cryptocurrency, you will get to know the A B C of Bitcoin.

About Bitcoin Cryptocurrency

The emergence of Bitcoin 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 thought to have approximately one million bitcoins valued a lot more than $6 billion USD by September 2017.

Bitcoin 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 web connection. As a newbie, Bitcoin technology may confuse you and a little bit tough to know about any of it. However, I will help you dig it deeper and how you may also do your first Bitcoin trading at ease.

Bitcoin Cryptocurrency works on blockchain technology that is a digital public ledger and shared by anyone on earth. You will find your transactions here whenever you do any Bitcoin trading and anyone may use the ledger to verify it. The transaction done will undoubtedly be completely transparent and is verified by blockchain. Bitcoin and other cryptocurrency are the parts of blockchain and are an incredible technology that runs on the internet only.

Key Terms LINKED TO Bitcoin Cryptocurrency

Before you prepared to own your first Bitcoin, it is best to know the main element terms related to bitcoins. Additionally it is termed as BTC which is a part of bitcoin and 1 bitcoin equals 1 Million bits. With equipment of bitcoins, various other alternative cryptocurrencies also evolved. They are popularly called Altcoins and includes Ethereum(ETH), Litecoin(LTC), Ripple(XRP), Monero(XMR) and many others.

XBT and BTC are the same things and commonly abbreviated for bitcoin. Mining is another term used a lot and it is actually a process done by computer hardware for the Bitcoin networks.

Things You Can Do With Bitcoin

It will be possible to trade, transact, accept and store bitcoin. You can send it to your friends, request from the friend and store it in your digital wallet. Even, now you can top-up your mobile/DTH directly by paying through bitcoin.

Transaction cost is low compared to PayPal, Credit cards, along with other online intermediaries. Furthermore, in addition, it protects your privacy which could get leaked on the net while using credit cards. It is very secure and nobody can seize or steal coins. Due to its transparency in the system, it is also not possible to manipulate due to shared public ledger. You can verify transaction from anywhere and at any time.

Demand will probably rise as the total production of bitcoins is to be limited to 21 million only. Japan has recently legalized it and other countries may abide by it soon and the price may hike further.

I will be covering more on Bitcoins in detail in the upcoming days where become familiar with great stuff of bitcoin trading. You can comment your views and have anything relevant to bitcoins.