Knowing all about bitcoin

Bitcoin, the peer-to-peer virtual currency was launched by Satoshi Nakamoto in 2009.  For 2 years he worked on the code and then it was released it to the public. It is a unique and new financial vehicle which has not been seen by anyone in the world. It does not have any physical existence. It is solely an electronic form.  Since it uses peer-to-peer technology, no central authority or middlemen is  required. You can transfer money to anyone living in any part of the world. Bitcoin completely eliminates the conventional third parties like money transmitters or banks. In order to transfer this digital currency all you need is an internet access and bitcoin address. You just have to be online till the transaction process gets complete. Just like banks, you will be able to receive bitcoins even when you are offline. However, when you wish to ‘collect’ the coin, you need to go back online to do so.

Getting the bitcoin address

To transact with bitcoin, the user should have the bitcoin address. You will be able to get the address either by getting online wallet or by downloading bitcoin client. Once you receive the address, you can right way start trading or transacting using the bitcoin.  If you do not have time to get into online trading of bitcoin, then you can use the help of bitcoin trader robot which will do all the work.  The software can carry out any function from deciding on what and when to buy, executing the decision and make money for you.

Advantage of trading in bitcoin

  • The biggest advantage of trading in bitcoin is the low cost associated with receiving and sending this digital currency. You can transfer this currency free of cost, but it is advisable that you pay a nominal fee to speed up the transaction process.
  • The transactions involved are completely secure and irreversible. As there are no chance of fraudulent charge backs and risk of fraud, the merchants are able to offer the product at good discount which will generate more volume of sales and can pocket the difference.
  • Another advantage associated with bitcoin is that there are no middlemen or card processors. Hence you will save the percentage of money that is taken by them.
  • The transaction can be carried out from anywhere and anytime. If you have an internet connection, you can transfer the currency with just a click.