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Trading Bitcoins has never been easier

Companies like Dasset, Coinbase, Xapo and Coinjar allow users to transfer money from their bank accounts to buy bitcoins or even buy them directly with a credit card. These companies offer a full suite of bitcoin services; from purchase, storage, and payment, making it easy for the average joe to pay for anything in bitcoin! 

Bitcoin Mastery Mining

Bitcoin mining is a term that’s becoming more widespread as the cryptocurrency gains publicity. But what exactly is it, and is it something you can do?

Bitcoin Mastery - What is Bitcoin

Bitcoin is a digital currency (or cryptocurrency) that was first proposed in 2008 and created in 2009 by Satoshi Nakamoto. Satoshi’s identity is still unknown, many theories exist trying to figure out who he really is. Bitcoin was not the first attempt at making digital money , but it was the first to use a “Blockchain” to keep tally of who-owns-what with Proof of Work to verify transactions.

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The amount of confidence people have in a currency determines how it is used. The same is true for a digital currency like Bitcoin. Given that the cryptocurrency is currently enjoying rapid growth, set to be followed by what advocates believe will be sustained stability, the question arises whether it will one day take its place as a form of payment for normal everyday items.

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Bitcoin Wallets

To make payments with Bitcoin you need to have a Bitcoin Wallet which is essentially a bank account to store your bitcoins in. You can receive, store, pay with and send bitcoins. This is where the “keys” which allow you to spend your bitcoin are stored, and since the security of your bitcoins is so important, these wallets must be strong enough to stop attackers. Many different types of wallet exist, each offer their advantages and disadvantages.