What is Bitcoin ? - NOSRWeb

What is Bitcoin?

Bitcoin is, the first decentralized digital currency. Bitcoins are digital coins you can send through the internet.

Compared to other alternatives, Bitcoins have a number of advantages;

  1. Bitcoins are transferred directly from person-to-person, via the net (without going through a bank or clearing house). This means that, fees are much lower!
  2. You can use them in every country
  3. Your account cannot be frozen
  4. And, there are no pre-requisite or arbitrary limits

Let’s look at how it works...

How Bitcoins Works:

Several currency exchangers exist online; where you can buy and sell bitcoins, for dollar, naira, Euros, Yeun, and more...

Your bitcoins are kept in your digital wallet, on your computer or mobile device.
Sending bitcoins, is as simple as sending an email. And, you can purchase almost everything online, with bitcoin! For example, a car, a house, clothing, gifts, electronics, furniture,... The list of items purchasable with bitcoins, is growing!

The bitcoin network, is secured by individual‘s called miners. Miners are rewarded, newly generated bitcoins, for verifying transactions.

After transactions are verified, they are recorded in a transparent public ledger.

Bitcoin, opens up a whole new platform for innovation.

The software, is completely open source – And, anyone can review the code
Bitcoin is changing finance, the same way the web changed publishing
When everyone has access to a global market, great ideas flourish!

Bitcoins are a great way, for businesses to minimize transaction fees, it doesn’t cost anything to start accepting them, and it’s easy to setup! There are no charge-backs, and you’ll get additional business from the bitcoin economy.

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For more information about bitcoins, visit: http://www.weusecoins.com 

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