The Multilayered Cryptocurrency

Questions have arisen unto whether bitcoin is turning into a multilayered system. Well, the answer is yes. This article seeks to outline the various layers onto which bitcoin lies on. It’s all yours! Have you heard of those who refer to bitcoin as digital gold? Clearly, the crypto-currency is quickly gaining popularity and acceptance in Read more about The Multilayered Cryptocurrency[…]

Practical Tips on How to Trade Cryptocurrencies

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.