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BITCOIN
BUILDER
What is Bitcion
How do you use it
The Advantages
Start Earning
WHAT IS
BITCOIN
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BITCOIN IS A DECENTRALIZED FORM OF DIGITAL PEER TO PEER CURRENCY.
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BITCOINS ARE SAVED IN DOWNLOADED DIGITAL WALLETS, EITHER ON A USER'S COMPUTER OR IN A CLOUD LOCATION, WITH TRANSACTIONS VERIFIED BY A GLOBAL NETWORK OF COMPUTER USER
BITCOIN LETS YOU SEND MONEY OVER THE INTERNET
Bitcoin is a technology that allows people to transfer funds between each other separate from a central authority or bank.
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Its open to the public. Anyone can join and take part in this unique money transfer technology
Connects people worldwide creating an international network of "buyers , sellers”, and “miners”
The first decentralized digital currency
A krypto currency not run by one single person, it is run by everyone
Well, in the past few years more and more companies have started accepting Bitcoins. Overstock, OK Cupid, Virgin Galactic, Microsoft and Subway are just some of the companies you can use Bitcoin to pay for their services. Also, if you want to use Bitcoin to buy virtually anything you can apply for a Bitcoin debit card.
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These debit cards are issued by 3rd party companies that take a fee for their service. With a Bitcoin debit card you can buy at any store that accepts debit cards and the amount will be deducted from your Bitcoin balance.
HOW DOES BITCOIN WORK
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Another way to use Bitcoin is by sending money to your friends or family. All you need to do is get their Bitcoin address and you can transfer Bitcoins from your wallet to theirs. A use case for this can be paying back a friend who bought you dinner, returning a loan or even settling a bet.
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Finally, if you want to open an online business you can also use Bitcoin as a payment method so that customers will have additional ways of paying you.
HOW DO YOU USE BITCOIN
As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once.
1. Protection From Payment Fraud
Bitcoins are digital and cannot be counterfeited or reversed arbitrarily by the sender, as with credit card charge-backs.
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2. Reduced Possibility of Identity Theft
When you give your credit card to a merchant, you give him or her access to your full credit line, even if the transaction is for a small amount. Credit cards operate on a “pull” basis, where the store initiates the payment and pulls the designated amount from your account. Bitcoins use a “push” mechanism that allows the bitcoin holder to send exactly what he or she wants to the merchant or recipient with no further information. Furthermore, bitcoins do not require names – just digital wallet IDs.
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3. Direct Transfers for Immediate Settlement
Purchasing real property typically involves a number of third parties, delays, and payment of fees. In many ways, the bitcoin block chain is like a “large property rights database,” says Gallippi. Bitcoin contracts can be designed and enforced to eliminate or add third party approvals, reference external facts, or be completed at a future date or time for a fraction of the expense and time required to complete traditional asset transfers.
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4. Access to Historically Inaccessible Markets
There are approximately 2.2 billion individuals with access to the Internet or mobile phones who don’t currently have access to traditional exchange systems. These individuals are primed for the bitcoin market. Kenya’s M-PESA system, a mobile phone-based money transfer and micros financing service recently announced a bitcoin device, with one in three Kenyans now owning a bitcoin wallet.
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5. Lower Fees
There aren’t usually transaction fees for bitcoin exchanges because the bitcoin miner is compensated by the network with newly issued bitcoins. Even though there’s no bitcoin transaction fee, many observers expect that most users will engage a third-party service, such as Coinbase, in lieu of creating and maintaining their own bitcoin wallets. These services act like Paypal does for cash or credit card users, providing the online exchange system for bitcoin, and as such, they’re likely to charge fees. It’s interesting to note that Paypal does not accept or transfer bitcoins.
It’s gaining mainstream credibility as industry players consider it as the new gold – Bitcoin has many of the same qualities of gold, whose value is not controlled by governments.
Many investors and finance industry experts are serious about the promise of Bitcoin – A large number of mainstream investors and entrepreneurs already consider Bitcoin and other cryptocurrencies as a legitimate asset class.
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There is only a limited amount of Bitcoin – There are only 21 million Bitcoin tokens to be mined and no new tokens will appear until after 2140. This makes Bitcoin a deflationary currency whose value increases naturally with time.
EARN
BITCOIN
BY INVESTING
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Bitcoin is making some serious coin right now for serious traders. Over the past few weeks, speculators have driven the price to $2,200. If you had bought just $100 worth in May 2010, when someone bought two pizzas for 10,000 Bitcoin, you’d have coin worth $72.9 million today.