Things like Bitcoin and Etherium are becoming commonplace and for more guides please refer to gpucoin.net where information about buying and selling is explained in details. People believe that these currencies will be the future of money. The rise in bitcoins means that it is a time to know more about this sort of currency.
Here’s what you need to know:
1: What is Bitcoin?
Bitcoin is a decentralised digital currency, otherwise known as cryptocurrency. It was invented in 2009 by a developer using the alias Satoshi Nakamoto. One could compare it to a cashless payment system, but instead of a central authority verifying transactions, these duties are carried out by peer-to-peer networks.
2: Why should I get into it?
Bitcoin has no borders or many other limitations that traditional currencies have. It is a perfect system for those who wish to do business over the internet and has low transaction fees.
3: Why should I not get into it?
There are many risks involved with Bitcoin, including fees and hacking problems. Also, since this cryptocurrency is still quite new, there isn’t as much of an established infrastructure surrounding it. Be careful.
4: What are some alternative cryptocurrencies?
Namecoin, Litecoin, Etherium, Monero etc.
5: Are there any other alternatives to Bitcoin that I should know about?
Litecoin is one of the most popular altcoins at this moment in time. You can check out lots of information concerning this cryptocurrency at www.litecoin.net .
That’s pretty much it for this introduction into Bitcoin and its alternatives! Happy investing and trading everyone, and happy reading!