Bitcoins, abbreviated as BTC, are digital currencies. These are similar to US dollars or the euro and are intended to make exchanges of goods and services. It has some new features and is recognized for its ease of exchange, it is effective and safe.
This currency is decentralized, this means that nobody supervises it. The currency is made by companies and people who are dedicated to mining.
Each transaction is made directly between people, without intermediaries and their commissions are the lowest compared to banks or other entities.
By having a crypto system, it is not feasible for money to be falsified or doubled. Each operation is unalterable and, in turn, it is not necessary to provide personal data. All the money you have cannot be intervened, so it belongs to you in its entirety.
Bitcoin, being a secure digital currency, favors the exchange of money between people. It is one of the safest systems since, as it is known, there are many problems that have affected cards and ATMs: falsification of data, duplicates, thefts and robberies causing economic losses to those who have suffered these inconveniences.
This new creation can be implemented in any digital or physical business because it handles real money and in a more simplified way. The main objective is to implement itself more routinely to generate a more transparent economy, with transactions free of intermediaries and without the risks detailed above.
How is it used?
Exchanges are made on digital platforms, personal meetings between people and special ATMs for this currency. In general, transactions should be made with applications called “wallets”, for example, Trezar, to name one of them. There are a number of well-known companies that have implemented the use of Bitcoins, for example Microsoft. Being pseudonymous, it has been used in poker games and other online and gambling games.
How it is handled on the internet
In the case of the internet, a purse must be installed on the computer or cell phone and you will create your address. This serves to send and receive money. These directions are used only once, therefore, you must do several when you have to make more movements.
On the network you will see blockchains that is the public accounting of Bitcoin, where the transfers are confirmed. This is the best way to manage your balance and the new income can be corroborated.
Transactions are transfers made from one wallet to another. These have private keys that are used to sign each operation. These operations have a mathematical system so that the transfer is made by the account owner. A signature is entered so that they are not altered when they are issued. Through the process called mining, user transfers are confirmed within ten minutes.
To further expand what mining is, it is a consensus process for transfers to be confirmed. The system has a chronological order to protect the network. Transfers are confirmed in blocks with encryption standards that are to be verified.
This is how Bitcoins works. It is a simple screen shot so that you have an idea of what it is and how you work. For more information you can enter the site and download the documentation loaded in it (it is in English only) or on the purse pages you can find more information in Spanish and register if you wish.