Crypto-currency Genuine Income

Register below to Start Earning Genuine Income

Crypt-Currency also Known as BitCoin

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain.The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency.[1] Bitcoin is often called the first cryptocurrency,[21][22][23]although prior systems existed.[note 8] Bitcoin is more correctly described as the first decentralized digital currency.[19][26] It is the largest of its kind in terms of total market value.[27]

Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into a public ledger. This activity is called mining and miners are rewarded with transaction fees and newly created bitcoins.[19] Besides being obtained by mining, bitcoins can be exchanged for other currencies,[28] products, and services.[29] Users can send and receive bitcoins for an optional transaction fee.[30]

Bitcoin as a form of payment for products and services has grown,[29] and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors.[31] Unlike credit cards, any fees are paid by the purchaser, not the vendor. The European Banking Authority[32] and other sources[19]:11 have warned that bitcoin users are not protected by refund rights or chargebacks. Despite a large increase in the number of merchants accepting bitcoin, the cryptocurrency does not have much momentum in retail transactions.[33]

How To Work and Start earning from BitCoins ? Visit Here

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s