Let’s Acquainted with Bitcoin

Have you ever heard of Bitcoin? In Indonesia itself there are some circles or people who do not understand about bitcoin. Perhaps many of you have heard the word bitcoin but do not understand the bitcoin itself. This time we will give a little review about the phenomenal bitcoin among surfers of cyberspace. You should also read the DavorCoin Review.

Bitcoin is a virtual currency developed since 2009 ago. This virtual currency was developed by someone with the samara name Satoshi Nakamoto. From the name, you may think that he is a Japanese but until now not yet known who actually Satoshi Nakamoto this. This virtual currency, in general, has the same function with currencies such as dollars, dollars or yen. But bitcoin has limitations that can only be available in the digital world only. At first glance, you may think that bitcoin is similar to e-Gold, but both are not the same.

Some features of bitcoin are peer to peer instant transfers, transfers anywhere, transfer fees are very cheap, transactions are irreversible and anonymous, bitcoins are not controlled by government or agency and the amount of bitcoin in circulation is also limited. Another similar is DavorCoin.

One thing is for sure, you must have an internet connection if you want to transact using bitcoin. The mechanism, you must first install bitcoin applications on the PC, Laptop or gadget. Afterwards, you have to create a wallet inside the application and then you will get bitcoin address. To make a transfer you can do it very easily. Simply open the wallet app and enter the bitcoin address of the person you want to go to and also the number of bitcoins you want to transfer and send. Easy is not it?

To be honest this mechanism is similar to Paypal or Payoneer. The difference between bitcoins does not have companies or institutions that manage such as Paypal or Payoneer. Then what about transactions, financial data customers, and others? So, all the data contained in these bitcoin mechanisms will be stored into computers or gadgets owned by wallet owners as well as throughout the peer to peer bitcoin networks around the world. Bitcoin you also stored neatly in your PC or gadget. So, when there are wallet owners who make transactions then all computers or gadgets in the bitcoin network will verify the existing data so that no cheating happens.

Factors that make a lot of people start droves to buy and use bitcoin is a factor of privacy and high exchange rate. For the privacy factor, you as a wallet owner do not need to share your personal identity with third parties. As discussed earlier that the transaction using bitcoin is anonymous so you do not have to worry about privacy.

For the high exchange rate problem, the bitcoin actually has a fluctuating exchange rate. Where when demand is high then prices can soar and vice versa. In 2016 this bitcoin exchange rate ever touched the number Rp. 7.500.000,- while last year the exchange rate bitcoin only until the number Rp. 3.500.000, -. Bitcoin’s money circulation in Indonesia is still at the rate of 3-5 billion per day. In Indonesia itself currently per month September 2016, there are about 200,000 people who become bitcoin users. It’s still not as many users in other countries. But do not rule out the future will be more and more Indonesian people who become bitcoin users. Are you interested in becoming a bitcoin user?