BITCOIN (BTC)
Bitcoin has been making headlines for the better part of a decade now. There are mixed reactions among the general population and government entities are still undecided on how to manage, regulate or restrict Bitcoins. Most people have mixed reactions to Bitcoins, given the fact that cryptocurrencies have been banned in several countries, while other countries are trying to regulate and promote their use. There is a lot of confusion among the average consumer. Additionally, due to the volatile nature of Bitcoin, the prices have observed wild fluctuations. This is a result of a limited supply with a sudden surge in demand. Furthermore, there have been several incidents reported where Bitcoin and other cryptocurrencies were lost to hackers and cybercriminals. Though this does not change the fact that the people who invested early in the cryptocurrency ended up with millions of dollars in profit. The demand surge of Bitcoin led it appriciate to a peak value of $20,000 in 2017. Bitcoin is currently valued at $8100 range.
Bitcoin is a huge topic of discussion nowadays. On one hand, countries like Japan considers bitcoin as a legitimate delicate, while on the other, JP Morgan Chase CEO James Dimon calls bitcoin is more than "a fraud”.
Bitcoin is a virtual currency (cryptocurrency) that employs the principles of cryptography for the control and generation of currency units. Bitcoin was the first application of the blockchain and has been the most profitable til date. Bitcoin is a decentralized digital currency. This means that it is not controlled by a person, group, business or organization. In fact, not even the government or a particular country has control over this currency. Now you might be curious if it’s a decentralized currency, how does it work?
Let's understand, How Bitcoin Works?
click here: http://bit.ly/what-is-bitcoin-btc
Bitcoin Wallets
Bitcoin Wallets are the digital form of your conventional wallets. They are used to store cryptocurrencies and can be used to make purchases. Every wallet provides the user with two keys.
Public key - A random string of characters which defines the user’s address on the Blockchain. This key is used to receive cryptocurrency payments.
Private key - A random string of characters which acts as a password to the user’s wallet. This key is used to make payments and manage cryptocurrencies.![what-is-bitcoin.jpg]