Things to know about bitcoins

  • Trustability – You do not need to worry about the decentralized feature of the bitcoins. Though they do not have anybody to control them, you can trust them blindly. However, vendors trust bitcoin as a method of payment and they accept it along with the traditional payment lottery
  • Secure – Transactions that are made with these cryptocurrencies are greatly not possible to hack. A properly protected private key is known only by the person who transmits with Bitcoin and the person receiving them.
  • Many ways to earn – You will be able to earn or gain them in a variety of ways. Some of them include: gambling, buy them, online lottery, receive as payment, online faucets, bitcoin games and more.
  • No centralized authority – These decentralized exchanges allow peer to peer trading of bitcoins. Despite their decentralized nature, no one can take advantage, hack and manipulate this digital money.
  • No third party – The transactions made with bitcoins have only direct interactions between the sender and receiver and there are no intermediate parties.
  • Not limited to location – There are no boundaries to them and it allows seamless transactions across countries by maintaining a ledger in the backend.
  • Speed – Bitcoin transactions are done at a faster rate and the payments are received by the person immediately after sending them.
  • Limited supply – There are an only limited amount of bitcoins available and the last bitcoin will be mined in 2140.