Home Forums General General Talk What is Cryptocurrency and Bitcoin?

  • This topic has 13 replies, 9 voices, and was last updated 3 years ago by Anonymous.
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    • #26872
      Anonymous
      Inactive

      Hi guys!

      Just want to start a few question about Cryptocurrency and Bitcoin. Are they the same? Where can I use them?
      What is bitcoin mining?

      I am a new to this so any of your comments will be appreciated.

    • #26895
      Anonymous
      Inactive

      Bitcoin, like other cryptocurrencies, is a digital currency, which means it does not exist physically. Cryptocurrencies are designed as an exchange medium that uses cryptography to secure transactions, control the creation of new crypto-units, and the confirmation of transfer of funds from one account to another. Cryptocurrencies can be exchanged for “real” money or other tangible assets and services. Let’s say it’s something like a card payment or a bank account.

    • #27023
      Anonymous
      Inactive

      Bitcoin is a Cryptocurrency. It was actually the first one back in 2009. Regular stores don’t accept bitcoin as a payment method yet, since it is a digital currency, but some are beginning to. In Las Vegas, for example, the Golden Gates Hotel and Casino, are accepting bitcoin in their hotels and restaurants. It is only a matter of time for bitcoin to be accepted almost everywhere.

    • #27055
      Anonymous
      Inactive

      Thank you guys for your response it is a big help for me and I appreciate your effort. Can I ask about you guys about this forum? Because I’ve always see that BIG THREE on the right side of this site, are they trading bitcoins here? Or all of you are members of bitcoin trading? I’m a newbie I’m very sorry that I’m asking questions too much. I just want to be aware on this site.

      Thanks again guys!

    • #27126
      Anonymous
      Inactive

      No problem @albino. The big three is just a way of putting it, but this is not a trading site, just an informative and debating site. I do trade cryptocurrencies on Binance, so if there is anything you need to know, just ask away. 😉

      • #27212
        Anonymous
        Inactive

        I like to ask:
        ~ Why did you choose Binance?
        ~ Are there alternative exchanges that are just as good?

      • #27235
        Anonymous
        Inactive

        Binance is reliable, easy to use. Kucoin seems reliable too, but the interface is more complicated, and has less coins. I’ve tried a few other exchanges like Kraken and Cryptopia, wasn’t too impressed.

      • #27253
        Anonymous
        Inactive

        Thanks for this feedback. I have read good things about Binance. Wanted to get some info directly from a person who has tried it and who has perhaps made some comparisons.

        Link of Interest:
        7 Best Cryptocurrency Exchanges In The World To Buy Any Altcoins

    • #27192
      Anonymous
      Inactive

      Great question – one I was just about to ask. @Denis, @Coral and @avsf – your responses to @albinoe have started to demystify cryptocurrencies for me.

    • #27241
      Anonymous
      Inactive

      So are Binance, Kucoin, Kraken and Cryptopia brokers for cryptocurrencies? I thought cryptocurrencies were traded on the same brokers as for forex.

    • #27750
      Anonymous
      Inactive

      I don’t know if there are brokers where we can trade crypto, but there are a few reliable exchanges @Henning.

      @Fox, I’ve started using Kucoin some more, got used to the interface. I suppose it’s a matter of habit.

      If anyone wants to register on Binance, here’s my referral link: https://www.binance.com/?ref=13100081

      If anyone wants to register on Kucoin, here’s my referral link: https://www.kucoin.com/#/?r=8ysfHr

    • #28068
      Anonymous
      Inactive

      Yes, cryptocurrency is now being accepted at a lot of major retailers today- and a few that do, are Overstock.com and they were the first big retailer to start accepting bitcoins online. Also Expedia, one of the world’s largest online travel booking agencies accepts bitcoin, and you can pay for your hotel booking this way. My favorite though is the site that accepts bitcoins and 45 other cyrptocurrencies for pizza and is called PizzaForCoins. Once the site verifies a pizza joint(like Pizza Hut or Dominos for example) close to your location, you can order your pizza and pay for it with digital currency.

    • #28429
      Anonymous
      Inactive

      Yes, a cryptocurrency does not physically exist, but if paper cryptowallets has been already invented , then we can assume that it’s already a real physical currency which is just not yet in circulation.

    • #28470
      Anonymous
      Inactive

      Cryptocurrency – is our future. I really hope that it will be more protected and backed up by something, than the dollar now.

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