Bitcoin FAQs, Clear your all doubts here before investing in Cryptocurrency

aadityathakur (25)in #bitcoin • 7 years ago

Bitcoin, Crypto market & Virtual currency are the words which are making you confuse each time when you heard them. so I am writing down most of the FAQs about cryptocurrencies. so that you can be familiar with all those terms.

What is bitcoin?

Bitcoin is the first decentralized digital currency. You can understand the decentralized term as there is no bank or administrator involved in transactions. Its a peer to peer network where transactions take place between users only without having an intermediate between them.

What is cryptocurrency wallet?

A cryptocurrency wallet stores two type of keys, Public & Private. These wallets can be used to send & receive cryptocurrency payments.

What is blockchain?

The blockchain is a public ledger where transactions are recorded. The blockchain is a technology through which we can track our transactions.

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)

What are the best bitcoin wallets in India?

I would never recommend any online cryptocurrency wallet. However, You can use Zebpay, UNOCOIN, Blockchain Wallet, coinbase wallet. Rather than using an online crypto wallet, you should buy a hardware wallet.

What is altcoins?

An altcoin is any digital cryptocurrency similar to Bitcoin. Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. Believe it or not, Bitcoin is not the only cryptocurrency! There are thousands of altcoins - cryptocurrency alternatives to Bitcoin - available today. I will keep updating on the cryptocurrency trends.

How to buy bitcoins & altcoins in India?

You can buy bitcoins from various places like Pocketbits!, Unocoin & Zebpay

What is the fee involved in the transaction?

Each exchange is charging a different fee. Please check their FAQs page for more info. I will recommend you to use Pocketbits!. This is having very less fee.

What are the best exchanges for cryptocurrency trading?

Bitcoin trading is not a legal tender in few countries along with India. However, you can use foreign exchange for cryptocurrency trading.

I am listing down the exchanges which I am using personally.

PS: If you didn't find the question which you are looking for, comment your queries below, I will try to answer them.

#cryptocurrency #altcoins #trading #exchanges

7 years ago in #bitcoin by aadityathakur (25)

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sonnyknight (37) 7 years ago

You should do a second post about mining Bitcoin. I say this because if your really trying to get into this game or at least Bitcoin and not other Altcoins Then you need to start mining to see some serious cash. I use altcoins but thats because the price of jus 1 BTC is just TOO DAMN HIGH. I did not get into this CC game until like middle of last year i always knew about darknet marketplaces since high school but i never got in to daytrading and really understanding the in's sand outs until it was too late. I currently use ethereum , litecoin, cage coin.(well maybe not cagecoin) but you get what i'm saying if your going to get into a business then you have to know exactly what your doing so your not hustling backwards

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aadityathakur (25) 7 years ago

Sure, I will write up a step by step procedure for mining bitcoin along with other profitable cryptocurrencies like Monero, ETH, ETC & other few profitable undervalued coins like ETN, BCN etc. I will share strategies best of my knowledge. Btw Currently I am investing in #BNTY #NEO #OysterPearl.