Things That Newbie Should Do in BitCoin

Things That Newbie Should Do in BitCoin

bitcoin onecoin

If you are still a newbie in BitCoin, then you have to understand all of the stuff that you need to knows to get safest transaction and saving. If you still don’t understand how BitCoin works, here we have a simple explanation. Well, BitCoin is virtual currency that everyone has known for long as it’s been viral in 2012 around the world. The first appearance of BitCoin was at 2009, and it is finally viral in 2012 around the world including Asian countries. The best thing that no other conventional bank has in money saving is that BitCoin does not need the third party to do the transaction. It uses peer to peer networks without centralized saving or single administrator. BitCoin does not depend on no one because no one controls BitCoin and no one has a right to control because it runs well. The first thing you have to know when you use BitCoin that it uses cryptography to ensure the safety basis. It is to make sure that the users that have BitCoin that can use it only. Now, everyone around the world has known about BitCoin and interested to join. There have been many countries that accept BitCoin, but there are some countries that ban BitCoin because it has a risk of stability in finance. If you are a newbie, here are things you need to follow to get your BitCoin account bigger and fantastic.

Use Faucet

If you don’t have any balance in your digital wallet, you have to use Faucet. It is the web that can give you BitCoin for free. You just need to submit the address of BitCoin and captcha, and you will get that. Some websites can give every hour, but some of them also can give once for a day. There are many websites of BitCoin faucet you can use for free. You just need to ensure that you can get it for free but it should be legal based on BitCoin terms and conditions. The faucet is the best place that newbie can get their BitCoin for free, and you don’t need to worry about the legality. You just need to ensure that you are not spamming for getting free BitCoin.

Save it well

When you already have BitCoin in your wallet, you have to save it well. The digital wallet is not a bank, and you control it, and you save by yourself because it is not same as a bank that can help to save. When you lost your digital wallet, it means that your BitCoin is gone. That is why it is so essential to keep it good in the wallet. You can save it offline to your local storage in the computer, and you also can save it in the digital cloud. Make sure that you make the good password because there is always the risk of losing your precious balance. There have been so many problems happen in saving BitCoin. There are some hackers that can access the private key and steal the BitCoin. That is why you have to make it secured and safety.

Risks You Have to Deal With BitCoin

Risks You Have to Deal With BitCoin

bitcoin currency

The independence of BitCoin has attracted so many people, so they join to save BitCoin. There are no countries that can control the virtual currency like BitCoin, as we have known that it has been the most independent virtual currency that everyone has been familiar with that. BitCOin has been the famous thing around the world. Everyone knows that. When you have seen that it can be a legit thing, then you have to know the bad risks you have to see when you are interested in this stuff. Seeing the independence of BitCoin, it must have a risk on finance. The financial risk of BitCOin has been the usual thing we should follow if we are sure about this currency. The value of BitCoin is so fluctuating that can make your balance and transaction are not stable too. Moreover, when it has been used by many people even by common people of business people, that will be dangerous for their business. In the first January of 2012, BitCoin is equal to 13 USD, and after that, it can be 1100 USD and then months later, it had been 500 USD. The change is just so dramatical. It dropped so down when China officially bans BitCoin transaction in the country as it has big risk on finance stability in that country.


As it is not stable, the nearest risk of it is that you cannot decide whether your product can be more expensive or cheaper. You have to decide when the currency is so fluctuating. It can be bad for the business people. One of the best ways to save the transaction is having an early commitment that once you submit to the price to Artabit, you can get everything right on your sales based on value or price you have set once you have brought from the supplier. Although it has a big risk in business, BitCoin still has good stuff to offer. If there is nothing happens, or just worse thing happens during your business day, you can get full advantage of using BitCoin to do the transaction. There is no fee for transfer or others; you just need to sign in and then submit the private key and get the product to you. It is free but, when it’s too much as seeing so many people use and start getting BitCoin to do the transaction, there is always a possibility for currency crash. That’s the risk you have to follow.

Another risk that you have to face when you decide to use BitCoin is that you have to save your private key well because it is dangerous when your balance is big, but your private key is lost. When it’s been lost, you have to be responsible for what you have, and you are not allowed or even able to get your BitCoin back. That is why it is important and really urgent to warn people that use BitCoin to get secured saving of private key. They can use the common box to save the key or just make sure that there is safest place or box, to save the coins.

Cons You Have to Face when You Are Using BitCoin

Cons You Have to Face when You Are Using BitCoin

why bitcoin

However, it’s been a common thing that everyone now has BitCoin. Recently, BitCoin was happening several years ago, but now it’s still booming around the world. No one can control BitCoin, and no one can guarantee the BitCoin. It is a cryptocurrency where there is no one or countries control the currency because it is an independent virtual currency. The Even government in most of the countries that let BitCoin grow there does not interrupt BitCoin. There are some good things that conventional currency does not have like in BitCoin like you don’t need to save and get the physical form to pay, you only need a virtual account to save the BitCoin. Although it’s pretty safe to save, as it is too simple, BitCoin also has a problem in saving. It’s been a common issue for those who have BitCoin account because the saving is too simple like you don’t need books or else to save, but it depends on your storage on your computer or Cloud because BitCoin is in the form of codes that are saved well in a digital file. What is the issue?

Saving issue

First of all, let’s say that we have the digital wallet for BitCoin. To be able to spend BitCoin, you have to have code bar called Private Key. This code line is saved in the digital wallet when you are going to use, you have to access the code, and you can use to the transaction. This private key can be saved in your local storage in the computer of printed into the paper of private key. The most common issue following the simplest saving of BitCoin that the private key can be stolen and accessed when it’s lost. When it happens, all of your BitCoin can be gone too forever, and you cannot get it back. It is unlike things in the common bank that you can get it back if you follow the procedures. It’s been a unsurprised issue when there have been so many hackers finding a right account that has big saves of BitCoin. Even some hackers can get BitCoin that is equal to 1,2 million USD.

Even if you don’t save your private key on the internet can have a chance to be stolen as when you have a hard disk, and you save the BitCoin there, you lost your hard disk, you have to let it gone. Even when you realize that BitCoin you have is equal to millions of dollars. That is why it is important to see that not all virtual things can be good for you. The only problem when you want to join and you spend money in investment in BitCoin, you just follow the trend, and you don’t have an idea to grow and prevent any bad thing that may harm your business. Saving issue has been number one issue that everyone is running in BitCoin knows that it can be forever issued that no one can solve it clearly and faster because we all know that virtual stuff is just a side thing that everyone can ignore anytime.

Pros and Cons of Using BitCoin

Pros and Cons of Using BitCoin

pros cons bitcoin

Have you ever heard about BitCoin? Living in modern life forces you to have up to date facilities like having virtual banking and saving. One of the most popular virtual currency that you can make as a replacement or additional saving on the internet is BitCoin. It is virtual currency that is in the form of encrypted codes that have unique codes that everyone cannot make the same unique code because every code is made by crypto or high-skilled mathematic statistic that have made the unique code for every BitCoin. There were some protests done by people as BitCoin is not good at first, but when there have been many people use this, BitCoin now has been a phenomenon, and it’s been common in several countries. We all know that developed countries will be excited to see free transfer transaction of money and you don’t need to go to ATM or just running to bank office to transfer because BitCoin gives ease in that. Although it has been phenomenal currency in the virtual world, there are pros and cons of using BitCoin, and you cannot deny this although BitCoin is legit to try.


  • Fast transaction

The transaction when you want to transfer money or balance in BitCoin account is fast. You just need seconds long to see that your transaction is successful and you don’t need to wait for the confirmation because what you need in the transaction is a just fast internet connection. When there is a problem in internet connection, you will get late in getting information about the confirmation. If it’s compared to other transactions provider, BitCoin is the fastest.

  • Simple

Another pro that you can see from BitCoin is the simple design of balance and everything related to it. You don’t need to have books, ATM card or other, but you just need BitCoin account that can save your digital currency of saving and you don’t need to have such master card to ensure that you can do the transaction in BitCoin. The process and the registration are simple, and you just need an email address to ensure that you can use the feature of BitCoin.

  • Safe

Don’t worry about the safety, because BitCOin has been claimed as safe transaction way for money or balance. Although some countries ban it, there are still most of the countries around the world claim that Bitcoin is safe and recommended for those who have no idea on where to store money and transaction.


  • It hasn’t been global currency

The only con that may ruin your thoughts is that BitCoin hasn’t been the global currency and it may be the problem when someday you will not see people attracted to BitCoin. If it’s been global, it may be easier to control anything including things like codes and more. If it’s been a global currency, it may be better for the users.

  • Running based on trust

When there is trust issue on BitCOin, it cannot be guaranteed that everyone that has BitCoin is not good seeing how trust issue is broken and it will be hard to gain the popularity of BitCoin when there are many issues on trust.

What is BitCoin? Lets Analyze This Cryptocurrency

What is BitCoin?

what is bitcoin

We are living in life where technology now has been the most powerful thing that everyone should see and update. Back then when we were in 90 or 20s, banking was viral, and everyone praised how bank turned out to be the best money transaction and investment place. Now everyone seems to be up to date on how Bank now has been the basic but not the only one place to save money. As we have been living in a world where technology is number one, we now have seen many options to save our money, to invest our income in better place. In the virtual world, there are many ways to invest and save your money well in an account. If you have ever heard about cryptocurrency, you may have seen Bitcoin. What is that? It is a virtual currency that you can buy it with your current money, it has no physical appearance, and it is not from a country. This is just a virtual currency that only exists in file form. Those files are encrypted codes that make them different from one coin to another. As it is like a file in common, you can save it in Bitcoin Digital Wallet and social cloud.

Short explanation about BitCoin

If you are asking how people around the world knows this currency, you are right to be here. Bitcoin has been viral and famous in the world where everyone that has been working or running life in the virtual world has known about BitCoin Some countries blocked BitCoin, and some countries keep calm and letting people do their business with BitCoin. Several countries that ban Bitcoin is China and Singapore because they think that BitCoin can harm the stability of online transactions in the countries. If BitCoin is changed into USD, some people believe that 1B is equal to $195. The currency will change every time because many people have had BitCoin and people will keep it and see the updates of BitCoin seeing the currency has been common in an online transaction. Now, there have been more than millions of users on the internet that have used BitCoin for online transaction. It is at least 21 millions of BitCoin has been spread in the world, and 25 BitCOins are spread every minute in countries around the world.

The most common thing that might happen when there have been almost all people use BitCoin, then it will be easier to have an online transaction, but when there are just a few people, it is hard to claim that BitCoin is good and nice to try. It is indeed simple and fast and yet there is no third party that can interrupt the transaction using BitCoin. You can see how your transaction only needs seconds to be sent as long as you have good internet to transfer, and moreover, you don’t need to wait for the confirmation from the third party because the notification will be sent directly. But, as there are many benefits in using BitCoin, the worst possibility when it’s too much is that when there are some people that are finally ending their trust in BitCoin, several years later, BitCoin may have been a bunch of crashes.