Bitcoin is the first known crypto currency in the market. Since it started in 2009, people have seen the potential of this currency. If this concept is new to you, this Best Bitcoin Dice site will give you all the info that you need to know about this interesting monetary unit. You might as well be surprised of what this currency can offer you.
A brief history of Bitcoin
Bitcoin was started in 2009 by a pseudonymous developer named Satoshi Nakamoto. He published a research paper about this currency in a mailing list and since then, many people have been interested in this idea. Today, over 100,000 merchants accept this kind of payment, and you can expect more businesses to allow this in their system.
You cannot touch Bitcoin; it is digital
One the first things that you need to know about Bitcoin is that it not fiat money that comes is paper bills or coins that you can touch or feel. It is a digital currency that you can use only online. Since it functions as currency, you can use it for online trading and exchanges.
You can control Bitcoin
You may be wondering how Bitcoin is produced; you might be surprised to find that you can produce this type of money. A characteristic of this currency is that it is decentralized, which means that a central authority does not control it. Users have all the control to the production of this currency. Moreover, since a central authority is not involved in Bitcoin, you can use it anonymously. You will be able to make transactions using this currency without revealing who you are.
To produce this currency, you need to solve math problems; you call this process Bitcoin mining. Other than this, you can get money through online exchanges where you can trade in your paper money with this digital currency. Most exchanges do not have transaction fees; some have fees too minimal you will not even feel that you paid for your transactions.
Where to store your bitcoins
You need a wallet which acts like a bank account where you can store your coins. What sets it apart, though, from a bank account, other than it runs independently from a bank, is that you do not have to pay to get a wallet. Furthermore, you need this wallet for transaction purposes, since this is where you can send bitcoins to and from.
You can use it anywhere
You can use this digital currency in a number of ways, but the most common is online shopping. You can also use this for gambling, especially in the popular Bitcoin dice where you can also get rewards through Bitcoin dice faucet. A faucet gives you free coins so you can increase your wins; hence, increasing your money. Other than online shopping and playing Bitcoin dice game and other casino games, you can use the currency for other services like webhosting and paying for an interior design company.
Transparency through blockchain
Another distinct feature of this currency is that you can view all the transactions made with this digital currency. A public ledger, known as blockchain, is available for public viewing. You can see how transparent this currency is since you can view how transactions with bitcoins happen. You might not get a receipt for your transactions but this ledger acts as your one-stop receipt, and that also applies to all of its users.
Given all these amazing features of Bitcoin, it does not come as a surprise that people call it the currency of the future. There is a growing number of users of this digital currency, and you can expect it to increase in the future as this digital currency continues to develop its services and features.