Learning More About Bitcoin Trading

Learning More About Bitcoin Trading

Bitcoin is the first type of cryptocurrency that has gained so much popularity in such a short span of time. It uses peer-to-peer (P2P) technology to facilitate instant payments and transfers. It is considered to be the most user friendly currency as it ensures complete transparency of transactions. It is not monitored and regulated by any central authority which in turn differentiates it from other traditional currencies.

Bitcoin helps in carrying out all transactions over the internet which guarantees convenience to its users. Traditional modes of payment are more elaborate and lengthy which is why Bitcoin is taking an edge over them. Bitcoin can be traded easily with the help of transfers between the sender and receiver through Bitcoin wallets without the need of any intermediary.

A wallet is described as a small personal database that can be stored on your smartphone and through which one can buy and sell Bitcoin.

Working of a Bitcoin:

Bitcoins are traded conveniently with the help of transfers between the sender and receiver through Bitcoin wallets. It is a hassle free process that does not require any paperwork, transaction fee etc. Thus, the trading process is simplistic and convenient.

You need to install a Bitcoin Wallet App on your computer or mobile device in order to start trading in Bitcoin. The Bitcoin Wallet is an application that will generate your first Bitcoin address. You can buy bitcoins through your credit card which will be transferred directly to your Bitcoin account after which you can start bitcoin trading.

But since no one owns or controls bitcoin, there is a process which ensures the working of bitcoin. This process is known as Bitcoin Mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The first participant who solves the puzzle gets to place the next block on the block chain and claim the rewards.

Major Bitcoin players in the market:

Flitpay is a Bitcoin Wallet App that helps you Buy and Sell bitcoins. It enables you to perform fast peer-to-peer transactions without any intermediary in between. One can make payments at ease without any discomfort. Flitpay strives to provide customers the best price and services in the market along with cash back perks. It guarantees transparency, safe and secure worldwide payments.

Coinbase was founded in 2012 as a crypto currency wallet and platform where merchants and consumers can transact with new currencies like bitcoin, ethereum, and litecoin. Bitcoin is the world’s most widely used alternative currency and coinbase serves as a major market player in bitcoin trading.

Unocoin was founded in 2013. It is a bitcoin exchange that enables bitcoin trading. Unocoin has initiated a series of meetups, seminars, guest talks, college activities and other collaborations, to create awareness of bitcoin in India.Their mission is “to bring Bitcoin to billions”.

Coinsecure provides mobile bitcoin services to customers. It is also a bitcoin marketplace which guarantees easy and secure bitcoin value-added services for consumers and merchants. Coinsecure’s goal is to help provide easy access to a wide range of merchants, developers, stakeholders etc.