What is bitcoins?

All you need to know about Bitcoin. A comprehensive guide for beginners in the world of cryptocurrencies.

Good day!

Someone today feels more than confident in using cryptocurrencies, and someone is just starting to be interested in the opportunities that their use provides. My professional field of activity involves the use of cryptocurrencies daily, so I decided to create a FAQ for beginners who once, somewhere, from someone heard about Bitcoin, but in practice did not come across it. Without extra water, I present instructions for a person who decides to go to the crypto world. Let’s start with the theory, and later move on to practice.

For myself, I made such a plan, which I will adhere to in the course of my narration:

  • What is a military-technical cooperation
  • What is blockchain?
  • Bitcoin Pros
  • What determines the course of bitcoin, why such a course?
  • Types of Wallets
  • Installing an Electrum Wallet
  • How to use Electrum
  • How to get bitcoin
  • About the cue ball course
  • Cons of bitcoin
  • Wallet security

Well, let’s start a full analysis of bitcoin?

What is bitcoin?

Bitcoin, BTC, Bitcoin. They just don’t call him. For beginners, I advise you to start getting to know him. This can be said the basis of the crypto world.

Bitcoin is the most popular cryptocurrency. Its properties and purposes are the same as those of regular currency, it is a means of payment. However, there are important differences, in addition to the prefix “crypto”. For bitcoins, you can buy, for example, a new computer. You can return the debt to a friend. You can bring them to the stock exchange. Or you can wait for the cue ball to grow compared to your national currency and sell it profitably. Everything is like a regular currency. But…

This currency lives only on the Internet. The PTS coins, which can be seen on the World Wide Web, are essentially the same code, simply on a physical medium, the form of which we are so used to. Currency is issued by solving mathematical problems on computers around the world and emissions are limited. No one is printing this money. No one can control this network, because, in order to influence it in at least some tangible measure, you need to control most of the computers in the world.

The currency is stored on bitcoin addresses. A Bitcoin address is a set of Latin letters and numbers 34 characters long (case is important!).

Blockchain technology provides work with bitcoin.