Bitcoin or crypto currency is a complete and secure digital currency process. Like any other currencies, traders can use Bitcoin for everything (know more on DC Forecasts). But, the only difference is that like other currencies, Bitcoin has no central issuer like Government Central Bank. As a consequence, one of the most outstanding features of Bitcoin is that it does not belong to any country or government, and since its creator is anonymous and decided that his invention was free license, it does not belong to any individual or private company.If you want to be a free online Bitcoin Trader 2 – The *UPDATED* & Official Site 2019, this article is for you. 

Why Bitcoin is called a digital currency?

Bitcoin is a currency such as the yen, the euro, the dollar, and the yen. When it comes to their uses, bitcoin is similar with any other currencies in the world. But, what makes a big difference with the so-called fiat currencies is that it does not exist physically. It is a digital currency that only exists in the block chain that supports it and due to a sophisticated transaction verification process. It cannot be spent twice. Each part of Bitcoin is unique as every transaction is publicly recorded. It is recorded in a digital accounting book which is designed with compound cryptographic that is known as block chain. 

Users can manage their funds with digital wallets that have both a public key and a private key. With both, it is possible to carry out financial transactions from anywhere in the world and at all times. So that it is a currency that does not have territorial ties, as does fiat money. In the same way as any other currency, it is possible to exchange it for local money, for which there are exchange houses or platforms such as Local Bitcoins which work throughout the world. It is abbreviated as BTC, and while the platform as a whole is written with a capital B, ‘bitcoin’ in lowercase refers only to the units of the currency.

Bitcoin is a secure and complete digital system

In addition to being a currency, Bitcoin has a very important value as a digital system, as it is the first existing blockchain. The technology of distributed accounting is an encrypted database where it can be stored any information from every dollar spent bitcoin up software such as intelligent contracts. Every data in Bitcoin is protected and registered with a strong cryptographic structure. That’s not all. What makes Bitcoin valuable is that it has a unique fingerprint that makes every transaction immutable and unrepeatable. However, this technology is under development by several important companies. In mining, each computer or specialized hardware team solves very complex mathematical problems approximately every ten minutes. There are currently thousands of nodes that make up the mining network worldwide, thanks to which the network remains secure.

Bitcoin is decentralized

The revolution that brings bitcoin with respect to the currencies and payment methods already in place is that it eliminates the need for trust in central entities in order to sustain the economy. Around the world, money is controlled by the banks and by the governments. It they who are responsible for distributing, issuing, and regulating the money. Thy make it sure that in no ways the transactions results in fraud when done between two strangers. The blockchain is a cryptographic system that allows you to store and transfer any digitized assets between two or more people directly, since everything is registered online.

On the stage Bitcoin – For the average user, the operation of Bitcoin is very simple. Bitcoins are only managed in a digital wallet, which is a mobile or desktop application that can be downloaded at no cost, and from there transactions are made.

Backstage Bitcoin – We can start the tour by comparing its operation with fiat money. The latter is issued from a central bank, which gives it its value and distributes it in the country. Bitcoin, on the other hand, does not come from a bank, but originates through a procedure that can be carried out by any user with the necessary equipment, called mining.