What Is Cryptocurrency?

Cryptocurrency is a digital currency, or say, limited entries in a database that hardly anyone can change without fulfilling specific conditions....
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What do you mean by Bitcoin?

Bitcoin is a global currency.Bitcoin introduces a platform on which you can run currency as an application on a network without any central points of control...
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What Are Alt Coins?

Altcoins are minor coins less recognized and less established and easy to buy. Bitcoins have been on the market for around 10 years or more but altcoins are still making space to get recognized.
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Frequently Asked Questions
Why is Bitcoin Important?
In the time of booming technology, Bitcoin is the smartest move to stand ahead of your competitors. Bitcoin is a global cryptocurrency, "The Internet of Money.
Bitcoin is a Decentralized digital Cash System. You don't need any third party to keep a record of your transactions. All transactions are peer-to-peer and can be settled within minutes.
I wonder how easy things have turned out to be with the exercise of this new technology. You no longer have to travel long distances to make payments or transfers. You keep the money in your wallet and transferring money is so easy.
You can even Buy and sell Bitcoins through wallets and exchanges.
The Bitcoin protocol is also hard-limited to 21 million bitcoins. It implies no central bank, individual or government can come along and simply ‘print’ more bitcoins when it suits them, i.e. no more than that can ever be created.
Bitcoin is secure as it works with Blockchain Technology. The blockchain is a distributed ledger that is publically viewable.
Look around you! Your biggest idols are investing into Bitcoins. Think Why!
Who Developed Bitcoin?
Satoshi Nakamoto under MIT open source credentials said he developed “A PEER-TO-PEER ELECTRONIC CASH SYSTEM” in late 2008.
He outlined his idea and the working of cryptocurrency in the Bitcoin White Paper.
In 2010, Satoshi handed over the Bitcoin code to the developers and since then hundreds of developers have added to the core code.
As per records, Satoshi Nakamoto is the unknown inventor of bitcoin.
What is Blockchain?
Blockchain is the backbone of Bitcoin that holds the network together. A distributed public ledger account that keeps a record of every transaction made in the network. Further transactions are timestamped and verified by network miners. You can easily see the public keys to any transaction you want (although there are no names associated with transactions). Blockchain is a publicly viewable ledger.
What is Double Spending?
Double spending is an error under which the same single digital token is spent twice or more.
When the transactions are taken out of the unconfirmed transactions pool and put into the blockchain they are checked for their validity. To avoid double spending, almost 6 confirmations (and much more if required) are carried out before considering a transaction complete. So, in the end, we will have a clear winner and only one transaction will be confirmed.
Get a clear idea on Double-Spending, watch this video.
What is Bitcoin Mining?
To avoid Double-spending, certain miners are adopted. These miners help in confirming blocks of transactions held within the network.
Bitcoin miners use specialized computers to solve algorithmic equations or hash functions which further aid in confirmation.
In return, miners are rewarded by paying out in Bitcoin.
Miners introduce new Bitcoin into the network and also secure the system with transaction confirmation.
What is Public Key?
The public key is all about where bitcoin address is generated from, similar to an email address; anyone can look it up and send bitcoins to it.
The private address, or private key, is similar to an email password; the owner can send bitcoins from it only if he carries one with him.
Private key needs to be kept secret.
In order to send bitcoins from an address, you prove to the network that you own the private key that corresponds to the address, without revealing the private key. This is done with a branch of mathematics known as public key cryptography.
What is Wallet?
Wallets are basically an electronic device that allows a user to make electronic transactions. Wallets are secure and insured unless you share your private key (the ‘key’ which allow you to spend your bitcoins) with somebody.
Wallets are a mode that aids you in converting your dollars/euros/pounds into bitcoins or any of the major cryptocurrencies you demand.
Wallets store, send and receives Bitcoin or altcoins you prefer investing in.The most common wallets are smartphone-based. Some wallets have central servers, i.e. users have to generate individual accounts with a username (generally an email address) and password.
With Bitcoin in trend, many users and developers have created their own apps leading a wide selection of wallets to choose. But with more choice comes the need for more caution: fraudulent Bitcoin wallets have begun to appear that mimic the look of popular wallets, but are actually malware that steals bitcoins. Be very careful with the wallets you're installing. Visit our guides to reach trustworthy wallets.
NOTE : Bitcoin-india.com does not carry any app in the name of "Bitcoin India".
What is Bitcoin Address?
A 27 - 34 numbers and letters long string, similar to an email address is referred as Bitcoin Address.
The address enables the Bitcoin blockchain to recognize when bitcoins are sent and received. These addresses can be used by anybody, from single individuals to businesses to multiple people accessing the one address if desired.
This increases the privacy of your transactions to a degree and helps in avoiding public tracking of your funds.

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Wallets are basically electronic devices that allow a user to make electronic transactions. Wallets are secure and insured. Wallets are a mode that aid you in converting your dollars/euros/pounds into bitcoins or any of the major cryptocurrencies you demand.


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