What are Bitcoins & Altcoins | Watch Now
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What is bitcoin ?
Bitcoin is a decentralized digital currency
that doesn't have a central monetary authority.
Bitcoin tranzactions are executed
through a bitcoin wallet
which the users shall download
and use on their smartphones
or computers.
It should be purchase using regular
currencies such as dollars or pounds
and then stored in a wallet.
Bitcoin can be easily transfered from
person to person
without the interference of banks
and let you buy anything,
from coffee to electronics.
They remind an issue using specialized software
and mathematical processe.
Minor secure the bitcoin network verify use a transaction
and earn new bitcoins for the same.
With bitcoins, transactions fees are relatively less.
You can transact in any country.
Your count cannot be frozen.
There are no arbitrary limits.
Following the success of bitcoins,
they emerged alternative coins or altcoins.
There are hundreds of altcoins
with their own individual features that addresses the flaws of bitcoins.
Some popular altcoins include litecoin,
opening faster transactions than bitcoins,
courtcoin which uses nine rounds
of incription for better security,
neincoin, they can store data in its own block chain
transaction data base,
purecoin, designed to attain an annual inflation rate of 1%,
darkcoin that keep users' identity secret and more.
Most altcoins offer improved privacing and faster transactions