Bitcoin is the new kind of money that is traded on a virtual platform. You cannot see or handle the money on your own but everything is done online. All you will be able to see are lists and numbers in accounts. They are generated by an online mining process, which is carried out by programmers all over the world. For the difficult coding they do, they are awarded with Bitcoins. All the transactions that take place all over the world are maintained in this public ledger. The transfers take place through a Bitcoin wallet that stores a unique key by which the transaction can be identified as genuine.
Like most others, I had heard about Bitcoins on the news when they came out. They gradually became popular and I know very few people who deal in them. The reason they are trusted as a mode of currency is because the entire process of creating, maintaining, and exchanging this virtual currency is open to all. Anyone can view the process and know where the currency is being traded and how much balance is left. The biggest advantage it has is that it is not regulated by anyone. Users will not have to face a sudden change of rules.
Out of curiosity, my brother and I decided to engage in some Bitcoin trading. Once I installed the Bitwallet Bitcoin wallet on my computer, it automatically generated a unique ID for me. I could share the ID with others who would like to trade with me. The address is unique for every individual and must only be shared for trading. We could either set up a free trade advertisement or respond to ads posted by others. We decided to do the latter, as we were not planning to engage in trading on a regular basis. Going through other ads was more productive as the terms and conditions had already been set. We chose sellers who agreed on an immediate trade. Choosing traders according the limits and payment methods, we bought a few Bitcoins. Before starting with the trading, we wanted to see if we could purchase something with the currency. To our surprise, we found an online store with many large retailers who accepted Bitcoins as a currency. We could buy electronics, book trips, and hotels, send flowers and were eligible for a discount on a popular e commerce site.
We found trading Bitcoins on Bitwallet a very easy process. It is the most popular trading platform that allows for an easy exchange of the virtual currency. When you choose the country of your origin upon using the application, all the transactions are automatically listed in the currency of the country you have chosen. Since it is not governed by any firm or agency, the transactions that take place are direct and immediate. The procedure is also short and quick. We used it for trading and buying but it can be used for security. You can buy Bitcoins and keep them stored in the Bitwallet for as long as you like.