While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There have been a lot of activities in the market that have changed the tide for the better. With proper analysis and the right dose of optimism, anyone who is invested in the crypto market can […]
Bitcoin is a virtual currency that uses cryptographic encryption system to facilitate secure transfers and storage. Unlike a fiat currency, bitcoin is not printed by a central back, nor is it backed by any. Bitcoins are generated by what is called mining—a process wherein high-powered computers, on a distributed network, use an open source mathematical formula to produce bitcoins. It takes real high-tech hardware and hours or even days to mine bitcoins. One can either mine bitcoins or buy them from someone by paying cash, using a credit card, or even a PayPal account. Bitcoins can be used like a fiat world currency to buy goods and services.