What is this Site about ?
Welcome to BestBitcoinBlog , where we explain Bitcoin, Ether, LiteCoin , Neo and all other big coins in plain English. This Site was established in May 2018.
What is Bitcoin ?
Bitcoin is a decentralized digital currency. It’s money that doesn’t belong or controlled by any government or central bank. You could think about it like the Internet of money.
Bitcoin was invented in 2008 and since then has gained a market cap of over $100 billion. Today more than 10 million of people around the world are using Bitcoin as a store of wealth, investment vehicle and an actual currency for exchange.
Where do I actually store my Bitcoin ?
Bitcoins are stored inside a Bitcoin wallet. You need a Bitcoin wallet to manage your Bitcoins. A bitcoin wallet helps you send, receive and store Bitcoins.
Bitcoin wallets come in many forms. Mobile wallets, desktop wallets, web wallets and even hardware wallets. Where ever the wallet is installed (e.g. your mobile phone or Ledger Nano ..) that’s were your Bitcoins are stored.
What can I do with Bitcoin ?
There are many uses for Bitcoin these days. For starters, Bitcoin can be used to shop online at leading sites like Microsoft, Dell and many more! Bitcoin becomes more mainstream, more and more businesses are adopting Bitcoin as a payment method.
Many countries around the world are experiencing financial instabilities and in many cases the citizens are the ones who end up getting hurt. Bitcoin is an alternative to the current banking system and allows you to be in full control of your money without a need for a bank.Is that not wonderful ?
Is it possible to buy less than 1 Bitcoin ?
Today, one Bitcoin is worth over 10,000 US dollars. Thanks to the still mysterious inventor , Bitcoin can be divided up to 8 decimal points, meaning you can buy 0.5 Bitcoins, 0.02 Bitcoins or even 0.00000001 Bitcoin (the smallest amount of Bitcoin available, also known as a Satoshi).
Bitcoin was invented in 2009 by Satoshi Nakamoto. No one really knows who Satoshi Nakamoto is but his legacy continued until this day. Today, the Bitcoin protocol is maintained by developers around the world who help update and upgrade the open source.He has laid the foundation on which a 400 billion business works.