Post on Medial

Here were some info which I know about bitcoins do ask more questions here so that we can help each other out by learning more things around

Small Info about Bitcoin transactions When you receive or send Bitcoins to some user the coins are then entitled to be of the opposite party to confirm that the coins enter into a Block chain then the coins are then verified or confirmed via network bots or miners to allot the coins to the other user. These Miners charge a very tiny amount of the transaction to confirm the transaction. Although the transaction made via Bitcoins is instant but if you do include some miners fee it would be more appropriate. A Transaction reflects into your or the other's account after 3-6 confirmations depending upon how the network works. But a transaction with 6 to 7 confirmations is considered as a safe transaction. And Yes the bitcoin is a irreversible currency. Once sent can't be retrieved back unless and until the transaction was debited twice and the network itself reveres the other transaction. So the chances of being scammed are very high.

How to Get Bitcoins There are several ways to acquire Bitcoins: Earn Them: Offer services or sell goods and accept Bitcoin as payment. Buy Them: Purchase Bitcoins from online exchanges. Mining: This involves using computer power to solve complex mathematical problems, which generates new Bitcoins. An Example of a BTC address is 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy This address you can send out to your friends or payment providers to receive the money at. Always enable a Two-Factor Authorization on all of your wallets. And make sure you print out the release codes and save it somewhere in case of Mobile loss or data loss.

Where to Store Your Bitcoins To store Bitcoins, you need a digital wallet. There are several types to choose from: PC Wallets: Bitcoin Core: A full node that helps validate transactions and blocks. It’s an open-source project that remains supported and updated​ Multibit: A lightweight wallet that was easy to use but check its current support status as it has had issues with long-term support. Internet Wallets: Blockchain: A widely used online wallet that offers secure storage and easy access to your Bitcoins. Coinbase: Another popular option that provides both wallet and trading services. Hardware Wallets: Ledger: A secure hardware wallet known for its reliability. Trezor: Another trusted hardware wallet that offers robust security features.