We have heard a lot and lot about bitcoin! But, have we ever tried at it? Ah, we are sure not many of us have given a try, due to a lot of misconceptions prevailing around it. So, we are going to pull down curtains on those myths and give you exactly what are bitcoins, and why one part of the world is going gaga over it, why should you too consider investing on it!!
What are bitcoins basically?
Bitcoin is the first digital currency to be created in the world. It didn’t crop up as a currency at the first place but came as a software to be used in the open source platform. It was created by Satoshi Nakamoto, who is known as the person behind this. But, there are lots of speculations about his identity too, as he is a Japanese and a Japanese creating a platform in English and other languages apart from Japan.
Nakamoto owns around 1million Bitcoins, as of 2017.
Working with Bitcoin:
As we know, there Is a technology behind the coin, its Blockchain. As the name indicates Blocks and chain, it’s a simple interpretation of series or blocks of technology transaction involved and it forms a chain.
So, one bitcoin holder can see only his transaction and his details in his wallet. The transaction is held in a ledger book and every transaction is noted, hence making it easy to trace every movement of a coin, who has it, since when and how did he get it and so on.
There are digital signatures to protect the owners.
Authority of Bitcoin:
Well, unlike the stock exchange or any office, there is no a single authority or a state wise, nation-wise authorities who regulate the movement of these coins. Only now, in the recent past have they created an authority to take hold of the coins, as there were reports of thefts and hackers. So, there is just one exchange and a group of committees who look into the smooth flow and business of these coins.
Otherwise, these coins are extremely safe and transparent.
How to invest and trade with them?
There is a number of platforms to trade the coins. Few among them are frauds and few are genuine, among them the best is the Bitcoin Code! The best to date, no fake, working up to the mark robot on its side, this platform is creating and changing lives of many.