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All About Bitcoins And Faucets by Shiningstarss: 11:13pm On Oct 04, 2015 |
Bitcoin is a kind of digital currency.There are other digital currencies like Bitcoin. E.g: dogecoin,litecoin but Bitcoin is the most popular and valuable. There's a smaller denomination of Bitcoin called Satoshi. About I million satoshis or more will make one Bitcoin. So the websites called Faucets give out satoshis that will make up to bitcoin if you hv enuff of them. One bitcoin is abt 240 dollars. And one dollar is abt 199 naira.There was a tym abt last 2yrs when one bitcoin was abt 1000 dollars. So the price can go up again. Just imagine if someone has abt 10 bitcoins,and the price goes up. You know what that will mean. Bitcoins are stored in wallets;much like the physical banks used in storing physical cashes. Only that the wallet is digital, It's not physical. It is generated by computer. You'll need a wallet to store ur bitcoins. Only you will have access to your wallet.From your wallet,you can transfer bitcoins to people or exchange it for dollars or naira,or receive bitcoins. Now understand that bitcoin is seen as d future of currency;though it's still a kind of new concept,especially in africa But there so many exchangers around the world and even in Naija here you can xchange ur bitcoins with. There are many of them. One good one is TRUEXGOLD. They exchange digital currencies like Bitcoin, Depends on how u arrange ur transactions with them. They can transfer the equivalent of the amount of Bitcoin you have directly to ur bank account in Naija here TRUEXGOLD as far as I know is a trusted company. Another thing is that the wallet gives u a Bitcoin address unique only to you.The bitcoin address is much like the local bank account numbers. If I want to send you bitcoins now,you'll hv 2 gv me ur bitcoin address,then I'll send it to you and it will enter ur wallet. There are some websites that give out some small amounts of Bitcoins. These websites are called FAUCETS. I'll introduce you to these faucets as time goes on. First you will need a bitcoin wallet. Ask any questions you have here. |
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