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Bitcoin, Crypto Wiki

Bitcoin 

Bitcoin or BTC ( from “bit” and “coin”), is a decentralized digital currency and a peer-to-peer payment system that uses cryptographic methods for increased safety and reduced fraud factor. All transaction information is recorded in the blockchain with entirely unrestricted access. Therefore anybody can see…

Bitcoin, Crypto Wiki

Satoshi 

This article is about Satoshi, a unit of Bitcoin ( BTC ). Read about the person Satoshi Nakamoto. What is Satoshi? Satoshi is a small fraction of a Bitcoin. It acts as an analog of a cent in BTC. Interestingly Satoshi Nakamoto commonly referred to…

Bitcoin, Crypto Wiki

Bitcoin Withdrawal 

Bitcoins can be withdrawn and traded for fiat money in several ways, including tools provided by cryptocurrency exchanges, Bitcoin ATMs and direct trades with interested parties. Withdrawing from cryptocurrency exchanges Some cryptocurrency exchanges provide the possibility to withdraw Bitcoins directly to a bank account or…

Bitcoin, Crypto Wiki

Buying and Selling Bitcoins 

It is possible to buy or sell Bitcoins in a direct Bitcoin transaction with an interested party, through Bitcoin ATMs, or by using digital currency exchange services – specialized online platforms that are often called exchanges even though they have no official exchange licenses. Bitcoins…

Bitcoin, Crypto Wiki

Bitcoin Transactions 

A Bitcoin transaction is an act of transporting value from one Bitcoin address to another. All transactions are grouped into blocks and saved in the network. Blocks are not encrypted therefore anybody can freely browse and see information about any given block in the blockchain…

Bitcoin, Crypto Wiki

Bitcoin Weaknesses 

Bitcoin is a very young currency which brings many innovative improvements to more traditional systems. However – a decentralized currency is a new concept and there is little doubt that Bitcoin is prone to several risks. Quantum computers can hack Bitcoin, it’s legal status is…

Bitcoin, Crypto Wiki

Bitcoin Mining 

Bitcoin mining is a process of creating new blocks in the system that uses the computing power of GPU, CPU or specially designed ASIC processors. Mining helps keep the blockchain complete and up to date by collecting new transactions into blocks. Each block consists of…

Bitcoin, Crypto Wiki

Bitcoin Wallet 

A bitcoin wallet is a cryptocurrency wallet that can hold Bitcoins. A wallet is a piece of software that allows to send, receive and store BTC. There are several types of wallets ranging from online apps to so-called paper wallets – pieces of physical paper…