Bitcoin Mining – Basics, Cloud vs. Hardware
What is Mining? Mining is the process of maintaining, verifying and adding new transactions to the blockchain. The transactions are added in sets called blocks. These blocks are linked together in such a way that illegal manipulation of transactional information and blocks is not possible in any way. The Bitcoin network nodes are the elements […]
Exchange Platforms – How to Buy Bitcoin
Cryptocurrency exchanges are very easy to access with an internet connection. And day-by-day more exchanges are becoming available. The problems are that some exchanges are not trustworthy, and others have bad technical standards which are a problem as they would be prone to hacks. The infamous Mt.Gox exchange hack has seen many people lose their […]
What is Bitcoin? – Bitcoin Tutorial
At the time of writing these lines, 1 Bitcoin is worth 3,300 USD. On many websites, you might see how the Bitcoin grew over time but you do not need this in order to understand what a bitcoin is. So, for now, I will only leave you with a brief summary of that. Bitcoin was […]
Hardware Wallet – Cold Storage Wallet
Using a hardware wallet is another way to store your private keys – they are kept safe on a hardware device. Those devices are referred to as Cold Storage Wallet meaning that they appear offline. If you want to learn more about other types of wallets like Hot Wallets click here, or here for Paper […]
Understanding Bitcoin Paper Wallet
What Is Bitcoin Paper Wallet? A paper wallet is an offline document. It has the relevant data needed to generate different Bitcoin private keys. A Bitcoin paper wallet is considered the safest way to store your Bitcoins as it is free of malware and cyber attacks. The paper wallet entails “printing” the Bitcoins. However, it’s […]
Hot Wallets – Online Bitcoin Wallets
Online Bitcoin Wallets or “Hot Wallets” is a wallet that is installed on a device that is connected to the internet, like PC, Tablet and Mobile. Since your wallet address in created online it can’t be considered as 100% secure. while it is not considered secure enough to hold a “big” amount of money, it […]
Bitcoin Wallet – Your Futuristic Wallet
While you can trade Bitcoin on an exchange platform without having a wallet, the only safe way to hold Bitcoin is on your personal wallet. So before you start receiving or sending Bitcoin you have to buy or download your own personal Bitcoin Wallet. As I mentioned in my other article “What is Bitcoin?”, there […]
Bitcoin Disadvantages – Invisible (Easy to Lose)
Bitcoin is amazing innovation that is entering our lives more and more, but as anything else, it has not only advantages. Here I discuss some of the down sides about the cryptocurrency. The following is a list of Bitcoin disadvantages: Bitcoins Are Not Widely Accepted Even though Bitcoin popularity is growing every day, […]
Bitcoin Advantages – Cheap & Fast
The Following is a list of the best Bitcoin Advantages: No Third-Party Seizure As long as you keep your Bitcoin on your wallet, no one can seize your coins. The most someone can do, is force a user to send the coins to them. Unlike a bank account, governments cannot freeze your Bitcoin wallet. You […]