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BITCOIN EXCHANGE is place where Bitcoin can be purchased. Basically if the Bitcoin is purchased or sold to obtain or give anything be it fiat money, tangible goods or other services its considered as a Bitcoin Exchange.

Bitcoin can be bought or sold using fiat cash, electronic transfer or any tangible element. Bitcoin exchanges operate just like a money exchange company, just that Bitcoin Exchanges are more cryptographic and transactions can be done easily almost any where in the world. 

Bitcoin Exchanges provide you with a Wallet where the BTC which you purchase or sell is store. Please bear in mind that these are not you personal wallet but perform same function as a any typical BTC wallet. Its most recommended that your Bitcoins are stored in you own personal wallet. 

Which exchange you use is mostly depends on where you reside and which place is more accessible to you, provided they are trust worthy. Well! Ya gotta do you home work.

To get started you can check out here or here to know more & register and feel experience of using an exchange.


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How is BITCOIN Sent and Received

What Happens when bitcoin is sent and how is it received? How does a Bitcoin transaction occur? What are the processes involved in a BTC transaction?

In Simple Terms sending to receiving Bitcoin is composed of 3 parts

When the sender sends bitcoin the wallet creates a transaction message containing information of the sender and the amount to be sent. This message is encrypted inthe form of a digital signature which is different for different transaction. This message is now encoded in a file and ready for the next step.
The encoded file is now sent to other computers that hold a copy of the block chain, this is know as a node. Each node gets a copy of this file and verifies the file and passed on to other nodes that repeat this process. By this way the bicoin amount is broadcasted in the form of and encoded file. This file is kept in a memory pool (mempool) by each node. The status of the file can be checked using a block expl…

BITCOIN - Layman Terms

BITCOIN What is BITCOIN? How to get BITCOIN? What are the basic elements of BITCOIN?

Money has had many forms, from the early stages of exchange of goods to metal coins to  paper notes to electronic cards. Now we have come to a new era where raw materials are getting scarce, depleting and polluting the environment to tackle these issues money is now emerging in the form of encrypted electric signals in short we say BITCOINS.
BITCOINS are digital money. Just like your normal money which can be stored in wallet, which can be a desktop, mobile, the web, a hardware or a bank.

Its is the first of a kind “decentralized digital currency”. Decentralized in the sense it cannot be controlled by a single entity or a group, for instance the bank. Similar to the internet as no one owns the internet and its decentralized.

BITCOINS can be given or taken through exchanges. Bitcoin exchanges sell and buy bitcoins in exchange for money, which can be done by bank transfer or by cash.

BITCOIN Mining for the Newbie


Bitcoin mining is a process used to secure and validate transaction from the wallet of one user to another. This validation occurs in a decentralized network. The receiver can only receive the bitcoin if the sender transaction is validated.
Validation is in the form of mathematical computation which the mining equipment performs and receives some bitcoins fom performing the operation kind of like the service charge as in Money exchange companies.
Since its decentralized it goes through many systems in the Blockchain network to verify the transaction, so if one system is hacked the other systems in the Blockchain will verify it, unlike the centralized banking system.
Mining can be done by any computational device, but only the devices that have good computational speeds can validate a transaction faster. Mining speed depends on the Hash-rate or Hash-power which varies from system to system. The Space where mining is done is called Mining Farm.
Even the system or dev…