what is bitcoin wallet?A Bitcoin Wallet is like a bank account. It allows you to receive bitcoins from others, store them, and then send them to others. There are two main types of wallets. A software wallet is one that you install on your own computer or mobile device. You are in complete control over the security of your coins, but they can sometimes be tricky to install and maintain. A web wallet or hosted wallet is one that is hosted by a third party. They are often much easier to use, but you have to trust the provider to maintain high levels of security to protect your coins. You can get your wallet from the web wallet provider like XAPO or COINBASE . Also you can get a full list of wallet provider in bitcoin.org. What is a Faucet?A faucet is a site where you can earn free bitcoins in exchange for advertising exposure or for completing small tasks. Faucets are a way for newcomers to get the feeling of earning bitcoins, even if in small amounts, so that they can try the system and, hopefully, get more involved with it. Faucet users gain small quantities of satoshi, faucet owners may benefit from ad income if the faucet is successful. |
what is bitcoin?
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Actually Bitcoin is a CryptoCurrency where the creation and transfer of Bitcoin is based on an open-source Cryptographic protocol that is independant of any central authority. It is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen what is Satoshi?A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC. In the future, however, the protocol may be updated to allow further subdivisions, should they be needed. breakdown of Bitcoin
BTC = Bitcoin |
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