Bitcoin is a digital currency created by one or more people hidden behind the name of Satoshi Nakamoto. Digital coins are produced by a process that is called mining. Unlike traditional currencies, Bitcoins are completely decentralized, in fact there is no central body that manages and is sovereign of the currency.
Mining is the process by which digital coins are created.
All Bitcoin transactions pass through the Blockchain and a large calculation power is required to be verified and confirmed.
To provide this computing power, specially configured computers are required.
Using these computers, which create a block of transactions every 10 minutes, you are rewarded with a quantity of Bitcoin calculated as a percentage of the computing power provided to support the Blockchain.
The Blockchain is an accounting, public and decentralized account that is used to record all transactions. It is configured in such a way that the data can not be modified, altered or duplicated. This allows at any time to verify and analyze transactions at no cost.
A Wallet is a digital wallet in which Bitcoins and altcoins are deposited. There are two types of Wallet: online and offline, and the latter is divided into physical and digital.
Owning a Wallet is very simple, but you need to secure it to protect your coins.
An Exchange is a platform where Bitcoins can be exchanged with other digital currencies and vice versa. In some of these Exchange, you can also deposit and withdraw FIAT currency (legal tender currency).
To put your Bitcoins in absolute safety, you need to buy a physical Wallet offline or use decentralized Wallets, where the only owner is who created the wallet by saving their private keys.
Yes! It is possible to change Bitcoins in euros and transfer them to your bank account or debit card, via Exchange or currency exchange services.
Nowadays it is possible to pay with Bitcoin in many activities, both online and on the territory.
The value of Bitcoin, being on the international market, is determined by supply and demand.
Bitcoin owners can choose to remain anonymous, using Wallet offline or deposit their own Bitcoins in nominal Wallet or Exchange.
Thanks to the Blockchain, every transaction made in Bitcoin is tracked and immutable, can be viewed publicly within the Blockchain.
The digital coin market is a sector appreciated by a huge target of buyers, from the young computer scientist, to the small and average investor and also from the big multinationals. In www.coindesk.com, blockchain venture capital section, you can see who invests and how much is invested in this sector and you can also find large banks and global financial institutions.
Subscribe to the Newsletter
Sign up to receive updates, news and advice.