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What Is Bit coin and the Block chain and Why It Is Important to Invest Now?

Posted October 14, 2019 by EasyFinance.com to Finance 1 0

Bit coin is what we know as a digital currency, has no physical existence like US Dollar or Euro currency. Although, it can be used to exchange services and goods through digital transaction. For more information you can visit Bitcoin Aussie System. However, bit coin is the digital currency which has remarkable benefits and praise for its security, efficiency, easy exchange system, etc. among the traders. If it is compared to any other kinds of currencies, its crucial difference with them is decentralized currency which none can control. It has no centralized issuer like Euro or Dollar. It is produced by companies and by people round the world. The resources is called mining.

What is a Block Chain?

The last "magic word" when talking about digital business processes of companies is Block chain, that although it is a technology that is just beginning its implementation and few professionals are clear about what applications it can have. The Block chain is a set of technologies that allow to keep a distributed, decentralized, synchronized and very secure registry of the information that computers and other devices work, that is, it would come to fulfill the function of a public registry in digital operations. The great advantage of Block chain is that it allows you to register a transaction, contract or any other type of action on the Internet in a verifiable, in falsifiable and transparent manner, without the need for a third party to verify its validity.

Why it is time to invest now?

Being a novice user, you need not to know so much technical details of Bit coin. Instead, you can now start trading with crypto currency. Once you have a wallet installed on your computer or mobile device, your first Bit coin address will be generated and you can create more when you need it. Today, it is the most used digital currency in the world and there are good reasons why you must invest to bit coin now. Both the sellers, business owner, and private traders find in Bit coin important advantages.

•    It does not belong to any State or country.

•    It allows you to buy crypto currency with dollar and euro.

•    There are no intermediaries.

•    Bit coin is definitely not controlled by the banks, States, companies or financial institutions.

•    Its falsification or duplication is impossible.

•    The transactions are irreversible.

•    The money belongs to you 100%.

Virtual currencies are a market that never stops

The importance, price and priority of Bit coin will not be lower, and this is why Bit coin market is traded 24 hours a day, 365 days a year. In many traditional platform you will see that sending currency to someone is very easier but, receiving the money is harder. This is why creating online stores and new business become somehow difficult due to hardness of money exchange. But, with crypto currency or Bit coin, both the options (sending and receiving money) are simple. Which means now you can receive and send money anytime without any single restrictions. If you are a businessman, both digital and physical, it costs nothing to start accepting bit coins.

Your Bit coins are only yours

The decentralized system behind bit coins makes it impossible for any other person who does not have your credentials to access your money. Your bit coins are yours and cannot be frozen or kidnapped, no account can be closed and only you have access. This aspect is for many people perhaps the most important - to feel really owners of their money and to be sure of it. Bit coin offers security to the buyer and the seller.

When we say that Bit coin is decentralized and that there is no institution, company, State, agency or association behind it that controls it, it is literally so. It is not a metaphor, but actually the computer system of today allows the creation of this secure and trusted digital system which favors no cost money exchange between us. Sending or receiving money to any part of the world carries significant fees or commissions due to the large number of intermediaries in the process, with Bit coin fortunately it is not.

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