Bitcoin, What Is It, How Does It Work?

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Hi guys, it is time to talk a little bit about money. Has anyone offered you bitcoin for online payments for a job you have done? Anyway, what is bitcoin? You have heard alot about it lately in the media, but do you know what bitcoin is? Is it a real coin? Can you use bitcoin to do investments on real estate?

What is Bitcoin?

Ok, let me answer your question. Bitcoin is an anonymous digital-only currency originally developed in 2008. At the moment I am writing this article a bitcoin value is 113 $, but back in the day you could buy more than 1000 bitcoins for just a few dollars. If you want to check the bitcoin value by yourself you can visit this web app here, it is a simple bitcoin converter which helps you to convert your bitcoins in Euro, British Pound, Australian Dollar and Swedish Krona.

How does bitcoin work?

Bitcoin is different than other currencies you actually use to pay your bills so you need to learn how this decentralised coin works. The good news for everyone is that you don’t need to understand the technical details in order to use the bitcoin currency and you can use it to get paid or pay your friends. What is the first thing you need when you manage money? It is the wallet, the place where you keep your money, so the same thing with bitcoin, you need to install a wallet on your computer or smartphone. After you have installed the wallet, what do you think is the next think to do? How are people going to pay you? How are you going to pay them? So the next thing to do after installing the wallet is to share your bitcoin address with other people.

If you are the guy that don’t like to mess with bank procedures and transaction fees then bitcoin is the perfect coin for you. Are you a hardcore gamer? Do you want to buy a domain name? What about web hosting services? Some internet services such as (Online Gaming, Game Servers, Web Hosting Services etc) accept bitcoin, so it is easy for you now to buy these services using bitcoin. Where can you find bitcoins? You can buy them or you can generate them by building your bitcoin mine, but i will not cover bitcoin mines in this article, because it is a lot and complicated topic.

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