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Characteristics Of Bitcoin

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Bitcoin is a digital coin. It was the first decentralized digital currency and introduced by a Japanese software developer, Satoshi Nakamoto in the year 2009. As the new payment mechanism it has some characteristics that slightly different with the normal coin. Bitcoin operate with no central authority or bank as middle man because they are digital, so any transaction does not happen in their business. It’s also means that no transaction fees to the user but you need to pay for processing fees. Although using a bitcoin is free but you will be voluntary fees will be charged to you to booster your transaction processing.
As the new kind of money, bitcoin can be transfer via the net or from your computer, tablet, and smartphone to anyone and …show more content…

Everyone can participate because its design to public without any control from other parties. Different from money, bitcoin is very secure because they have their own unique secure protection. This payment mechanism has strong cryptography where it can verify transaction with the same state of the art encryption that is usually used in military and government applications.
As a beginner, you can get started with bitcoin once you installed bitcoin wallet on your mobile phone or computer. Make your first bitcoin address and create more whenever you want but one address only can be use once. You also can reveal your address to your friends so that they can pay you or vice versa.
Here have some bitcoin wallet application for examples web, software, mobile phone and hardware wallet. Web wallets likes coinbase, coinjar, coinpunk and coinkite are the simplest one and more convenient to use but it insecure than software wallet. Secondly, software wallet can be installed and run in your computer. It’s more secure because user has more power to control it and does not fully depend to 3rd party service. BitcoinQT is the original Satoshi’s wallet and Armory is most suggested since it has full developed features. Multibit is an easy going wallet because it does no need a full download of the block chain. Coinjar and coinpunk can also be available in the Android and iphone as both of them are mobile phone wallet. Hardware wallet is the most protective wallet because they don’t expose your private keys to the network. Some examples for hardware wallet are Trezor and

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