Thursday, February 2, 2017

Bitcoin Basics

Bitcoin is a peer-to-peer virtual currency. This means that in order for a transaction to occur, no middle men or central authority is needed. You can send any amount of bitcoins to anyone living anywhere in the world,completely eliminating the need for traditional third parties like banks or
money transmitters. The cryptocurrency also allows the bypassing ofcapital and AML restrictions.

In order to send or receive bitcoins, all you need to have is a bitcoin address and internet access. You only need to be online long enough for the transaction to process. Similarly to traditional bank accounts, you can receive bitcoins to your bitcoin address even if you‟re offline. When you want to „‟collect‟‟ your coins however, you‟ll have to find an internet  connection.

Source of Information : Bitcoin Automated Trading Guide
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