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What is Cryptocurrency?

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Cryptocurrency A cryptocurrency refers to a decentralized payment system that allows people to send currency over the web without the necessity for a trusted third party. These transactions are always cheap and free in most cases. It is considered to be virtual or digital and has its security enhanced through the use of cryptography. This security feature makes the currency difficult to counterfeit. It is not issued by a central authority. It is therefore immune to government manipulation or interference. Nowadays there are many kinds of cryptocurrency , with over 700 different cryptocurrency projects functioning, and counting. Bitcoin was the first such currency to capture the public imagination and was launched in 2009. Bitcoin’s success brought about the cryptocurrency boom we now see today. Other similar and at times competing currencies such as Litecoin, Ether and Monero, offer different advantages to their users. These projects built upon the principles of crypto
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What are the Types of Cryptocurrency?

Bitcoin, the original cryptocurrency is based on an algorithm called SHA-256. This was originally created by the NSA to overcome a weakness in the first generation of SHA-1 algorithms. Today there are many coins using SHA-256 as well as other types of algorithms that each offer an “improvement” on Bitcoin’s code like scrypt, scrypt-jane and prime algo. Total decentralization Total decentralization is the main feature of most cryptocurrencies. As a result, there is no specified central point of authority. This is possible since everyone taking part in the transaction has a full copy of the required transactions. This creates a resilient network that cannot be changed or reversed by any policy in the transaction. Governments and banks are now trying to incorporate the technology, effectively aiming to create loosely centralized cryptocurrencies for their own purposes. High level of anonymity All Bitcoin transactions can be traced. It is one of the features of the blockcha
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Top 7 Bitcoin Free Money Websites

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In order to help people explore and gain access to the best free bitcoin sites, we have put together a list of sites that offer free bitcoin and an explanation on how transactions on its network work. Through these websites, you will be able to learn how to open a bitcoin wallet, how to use your public and private keys, how a transaction in the bitcoin network works and much more. The list includes some of the best bitcoin faucets around, as well as other sites that offer good amounts of bitcoin for free, when the reader completes a certain trivial task online. 1. BitCoin Claimer BitCoin Claimer is a new bitcoin faucet and to my mind is one of the top quality ones. It also has a chat so that the users can communicate. Visit Now BitVisitor 2. BitVisitor Get paid free Bitcoins to visit websites. Payments are made hourly and from only 100uBTC. The systems works on a timer between websites and you need to enter the captcha to see the next site. Get coins now landoffreebitcoin
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Best Free Bitcoin Sites

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How and where we can Earn Free Bitcoin ? The mantra of free bitcoin still attracts an increasingly large audience that is looking to enter into the world of bitcoin. Especially now, given that this cryptocurrency has become the most sought after digital asset, many people want to get more of it. On the other hand, the Bitcoin community has created many sites in order to cater to this kind of audience. This is due to the fact that only by giving out a certain amount of bitcoin for free, the people who have never used it will have the opportunity to learn more about it without having to risk their own funds. 1. Earn Free BitCoins 2.  3.   4.  loading...
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Bitcoin Cryptocurrency (BTC)

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Bitcoin Cryptocurrency (BTC) Bitcoin was the first of all the cyrptocurrencies. Created in 2009, it is the most expensive cryptocoin in the world and already accepted by thousands of merchants worldwide. Bitcoin was created by Satoshi Nakamoto and aims to change the way we think about money in general. A lot of BTC volume was orignially from people using Silk Road (a darkweb illicit trading site) and online gambling. What is Bitcoin ?  That’s a great question. The real answer is “a decentralized digital currency”. That means that while Bitcoin can be described as ‘internet money’ it is more electronic money that isn’t printed, can’t be placed in a bank and are created by people called miners (more on that later). More Bitcoins are produced into circulation through software and technology and every single transaction involving Bitcoins is recorded in an open online ledger known as the Blockchain. loading...
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What are Top 5 Cryptocurrencies?

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Top 5 Cryptocurrencies Below is a description of the top 5 cryptocurrencies in the market according to market cap. There are hundreds of other crypto and altcoins available today but most have not gained any significant market share yet. Bitcoin It was the first cryptocurrency to be introduced in the trading market in 2009. Currently, it is the most popular cryptocurrency since it is accepted as a payment in an ever growing number of establishments both on and off line. It is accepted by the NBA’s Sacramento Kings in exchange of merchandise, tickets and food for example. Most vendors and retailers including Amazon accept Bitcoin for many of their transactions. Bitcoin is quite volatile since it was able to rapidly increase in value from about $100 in October 2013 to $1200 in December 2013. Surprisingly, it encountered a sharp decline back to $600 in January 2014. Despite its popularity, not everyone is enthusiastic about it. For instance, the governments have banned B
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The Rise of Bitcoin

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Where did Bitcoin get started? The idea originally came from a developer named Satoshi Nakamoto, who produced the original Bitcoin white paper describing the mathematics behind a currency that was entirely electronic and independent of any banks, government, etc. The actual name and identity of Satoshi Nakamoto is unknown, but his impact is certainly felt in the cryptocurrency world. Bitcoin ‘cents’ are known as Satoshis. Where do Bitcoins come from? Not from the government that’s for sure. They aren’t printed like dollars or euros, but are rather ‘mined’. Bitcoin miners verify transactions made with Bitcoins and are given new Bitcoins as a reward. What was once a process that could be performed in one’s own home, Bitcoin mining has become a major undertaking, now reserved for large companies. So these miners are all raking in tons of Bitcoins ? Well, not really. According to the rules behind Bitcoin, there will ever only be 21 million Bitcoins in circulation. Don’t
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