How Bitcoin Works

There are a few things to know when you make transactions using Bitcoin.

1.There is no central command

Clearly, this can mean that Bitcoin is not owned by anyone. You can assume that Bitcoin is like an e-mail. Anyone can use it, anyone can have it. No single company is responsible for it. No one, including the bank or government, can prevent you from sending or receiving Bitcoin from anyone anywhere and anytime in the world. With this freedom, of course there is a big responsibility for you not to complain if something goes wrong.
Then, it is known that the Bitcoin transaction is irreversible. This means your custody must be very strong. Just like physical money, you should not let a stranger hold the Bitcoin you have for you. You are also advised not to send Bitcoin to people who can not be trusted on the internet.

2.Secure Your Wallet

There are several types of wallet bitcoin in this world. However, the most important difference is Associated with who can control the private key required to use bitcoin. Some "wallet" bitcoin actually more like Bank because they give the key to the user's personal on behalf of the user itself. If you choose to use one of this service, note that you really know about how it works security bitcoin you. Most wallet bitcoin also allows users to be responsible for private key them. This means that no one in the world can access your account without your permission. It also means that no one can help you if you forget your password or loss of access to your private key. Then, never forget your password, Yes! Principles above if you decide want to have a lot of bitcoin, you may want to share among some wallet different. As many people say, do not put all your eggs in one basket. When basket the fall, then pecahlah all eggs you. You don't want to this happens, isn't it?

3.Price bitcoin

Like all of them, the price bitcoin determined by the law of supply and demand. Because supply limited to 21 million bitcoin only, then you need to understand the calculation is well. The more people using bitcoin, then request also increasing. If it is combined with the supply of permanent, then forced price bitcoin will ride. That's what might happen in this age. First, as the number of people who use bitcoin in the world's still relatively small, the price bitcoin when exchanged currency traditional can fluctuate significantly every day. However, as the development of age, these prices will continue to increase the more people began to use it. For example, in the early 2011 one bitcoin worth less than one USD, but at the 2015 one bitcoin worth hundreds of USD. Forwards, if bitcoin become very popular, bitcoin each must be worth at least hundreds of thousands of dollars to be able to accommodate the request additional this.

4.Exchange bitcoin

There are several ways to buy bitcoin. One of the type of you can do is to Exchange reliable. Way it is a way good enough to get bitcoin. Usually, how is done in a event called Exchange bitcoin. With no efficiency banking system traditional, sometimes Exchange has price vary slightly with each other. If the difference is too big, then the merchant will buy the product low on one Exchange and sell with high prices on the other to close the gap. If the Exchange of continuous do have a price that much different than others, this is a sign of the problem. Exchange system this is what should be avoided. Properly, you have to do the research carefully and structured to find Exchange that you can trust. You should not use the Exchange as wallet of your choice. Move bitcoin to wallet your personal so you can control your funds at any time.

5.Bitcoin not completely anonymous

Have known that all transactions bitcoin stored in a book of the public known as blockchain. Therefore, some people might be able to connect your identity with transaction occurs from time to time. Some of the company offers various tools such as the mixer bitcoinuntuk help achieve privacy greater. But Unfortunately, it takes a larger effort to use bitcoin anonymously. Possible, you want to follow the tax rules your country on bitcoin to avoid problems with the law. However, you also have the power to not do so. Especially if you prefer it is a significant risk. Therefore, to improve the user privacy, wallet bitcoin most will be launched. Wallet is known will use the address bitcoin new every time someone send a number of bitcoin to you.

6.Transactions unconfirmed

In practice, transaction bitcoin can be seen by the entire network in a few seconds. History of the transaction is usually are recorded in the book of the world bitcoin, which has been previously mentioned named blockchain. History of the transaction appear in the next block. Although it may be a transaction will not be confirmed in next block, this is not be a problem if you receive the results of the transaction with as soon as seen by the network. Unlike payment system traditional, transactions by using bitcoin very quickly and can be sent global. Although transactions with bitcoin still relatively new, but technology intercession of this transaction continues to grow to be more reliable every day. No wonder, every month people can deal worth of hundreds of millions of dollars from bitcoin easily.

The practice of basic untukmenjadi users bitcoin new

Bitcoin received by thousands of individuals, website, and business brick and mortar around the world. No wonder if you also want to be one of its users. What else you wait? If you already have wallet bitcoin along with it, then Congratulations! You have to buy bitcoin your first and you now is a bitcoiner complete!

Of course, even if you have had the basics of use bitcoin clear always there are still you have to learn to be able to proficient use it. Bitcoin will only be a useful tool if you already have your ability to use it correctly. Of course, you must clever refrain will all your desire and not spend it with the wrong way, isn't it?

Additional information on bitcoin

Step above is just the basics of compulsory you know only. Bitcoin and technology blockchain that diandalkannya is the solution strong to overcome obstacles payment around the world. You also can use bitcoin as currency to purchase goods and services, or to receive bitcoin in a transactions. Because bitcoin is also a real money quite often used thousands of people around the world every day, it is important to have the understanding of solid about certain aspects related to the acceptance, storage, and spending. Don't forget, you also should also be the importance of the security of your wallet. Do not until you to be one of the victims of fraud by the person who is not responsible.

To add your knowledge will bitcoin, you can obtain information other useful to read the latest news related bitcoin. You can also visit the Web page that can help you learn more. One of the webpage is bitcoin.com. This page contains the whole guide and detailed information about bitcoin and its use. Bitcoin.com can be said to be as information Center reliable for beginners and for those who have experienced in industrial economy.