A comprehensive guide on Bitcoin for beginners!

A COMPREHENSIVE GUIDE ON BITCOIN BEGINNERS!

By Epixel Solutions https://www.epixelmlmsoftware.com

Overview Cryptocurrencies are digital currencies that exchanges a monetary value. It can transform the traditional currency system entirely.

Can you visualize an economy without financial institution or a centralized authority?

Yes, that is the world of cryptocurrencies. These decentralized currencies have been leading our economy for almost a decade. All cryptocurrency transactions are recorded in a distributed ledger system called blockchain. Bitcoin is the first cryptocurrency released in 2008, allows peer-to-peer transactions.

Bitcoin Bitcoin is a digital currency, emerged as an alternative to the fiat money. It allows peer-to-peer transactions, which holds same value globally. It is a decentralized global currency developed by an open source software. Bitcoin exits in blockchain, its value is determined by demand & supply. However, traditional currency value depends upon the circulation of money, but digital currency value never be devalued. It can also be transferred for other alternative currencies (altcoins). Bitcoin is becoming an emerging digital coin among spectaculars.

Basically, ● ● ● ●

Bitcoin is an investment opportunity A new way to make the transaction As a payment option Trading option

How Bitcoin differ from traditional currency? ➢ Decentralization ➢ No Counterfeit ➢ Immutable ➢ Limited supply ➢ Divisibility

How does BTC system works?

BEGINS

Earns Bitcoin

New block get added

Reward BTC

Provides BTC wallet

Mining Process (Verification & Validation)

BTC Transfers

Transactions validate in blockchain

Digital signature (Transaction request + Private key) encrypts the transaction

How to buy BITCOIN?

We can earn BTC with our fiat currency or in an exchange with alternative coins. BTC will be securely stored in the BTC wallet.

Make sure the website you are using to buy the BTC is genuine. At BTC transactions, user adds a block to the blockchain at every creation of Bitcoin. BTC can also be

transferred for other altcoins.

What can you do with your BITCOIN?

Now that you own BTC, we have various services & tasks to perform with this digital currency. Use BTC payment option for easy & secure online payments. Trading a Bitcoin is also possible for the exchange of other cryptocurrencies. We can make payments of flight tickets, hotel bills, shoppings & so on through BTC payments. Receiving bitcoin payments, the speculators will get access to global markets.

Bitcoin Mining What is bitcoin mining?

Simply, it is a process of producing bitcoins.

Obviously, you know BTC transactions are validated in blockchain. BTC is mined by bitcoin miners, the miners will resolve all computations in transactions.

They use special software to solve all math problems.

After transaction verification, a new block gets added on the blockchain. By creating a new block, miner is rewarded in terms of bitcoin. Mining implies adding BTC transaction data to blocks, after verifying complex hash functions which makes the ledger system immutable .

Have a glance at BITCOIN ! ●

A peer-to-peer electronic cash system for online transaction.

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Open source protocol where anyone can review the code.

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Minimize the transaction fee, and make cut the business expenses.

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Easy set-up and no chargebacks.

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No regulations or centralized team to control this digital currency.

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A perfect way to invest, transfer and pay through the online platform.

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Fake or false transactions can easily spot as every transaction is validated by nodes in the concerned network.

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A new way to make a transaction and an alternative to fiat currency.

BITCOIN - Pros to check

➔ Safe and secure ➔ Direct transfer ➔ 24X7 Payment facility ➔ Access to global markets ➔ Cheap & best international payments

BITCOIN - Cons to check

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Delay & expensive for retail transactions

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Highly volatile

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Risk of loss

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No stable fees & speed

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BTC to fiat conversion is expensive

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No recovery for private key loss

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