Bitcoin Cars

After it was launched in 2009, Bitcoin has more and more users. There are many people who need it to make transactions. So, if you are also interested in it, you can also consider getting this digital currency. Even though it is easy to use, there are still many questions about it. One of the most common questions is how to save it. Saving this digital currency should be done with some tips so that your wallets will be safe.

Save the Address and PIN

The first thing that you should do to save Bitcoin is to register it. You can register on the wallet address sites. There are many sites that provide wallet adders so that you can decide it based on your desire. After you are registered, you have to make sure that you save your Bitcoin identity including the address or wallet as well as the PIN or password. You need to use it when you log in on the site.

Fulfill the Account with Your True Information

When you register your wallet or address, you have to make sure that you use your own information. You have to check and check again so that the information you give is really true. So, if you have a problem with your account, it will be ease for you to verify your account. That is the importance of giving the true information in registering Bitcoin.

Backup the Important Information

Besides that, you also need to back up the information that is important. You should cloud backup to your email account or any drop box that you think it is safe, then save the file to your hard drive. After that, activate 2 factors of authentication with your active mobile phone number. It will be very useful to keep your Bitcoin safely.

Install Block Chain App on Your Own Smartphone

This digital currency network can be operated not only from computer but also from tablet or Smartphone. So, in relation to Bitcoin saving, it will be a good idea for you to download and also install the block chain application on your own tablet or Smartphone. Then, you should pair it with your account in the block chain website. So, you can use it anytime and anywhere. Even more, if one of them is lost, you have still many choices to open the application. That is all the tips how to save Bitcoin safely.

Description: Bitcoin can be saved safely with some tips including saving the address & PIN, fulfill the true information, backup, and install block chain app on your own Smartphone.

We may hear the benefits of Bitcoin. It is a digital currency that offers many benefits is making transactions including sending, receiving and saving money. However, there are many people who still do not really understand about the process of transaction. This digital currency applies peer to peer system and it needs some stages to finish the transaction process. Anyway, it is safe and there is no complex rule. If you want to know more about it, you should pay attention to this discussion below.

Why Should You Wait for 10 Minutes?

Bitcoin is well kwon with its easy and fast process in transaction including sending and receiving. However, commonly it takes about 10 minutes before your transaction is confirmed. Before it is confirmed, the transaction is not received yet by other people. However, what to keep in mind is that your transaction cannot be cancelled. And every user has the right to decide in what point the transaction should be confirmed.

The Transaction Fee

If you transfer money to someone else, of course you should pay transaction fee. Even more, if you transfer money to another country, the fee will be much higher. However, Bitcoin does not require transaction fee. It means you can transfer money for free. However, it is recommended for you to pay Bitcoin transaction fee based on your desire. For example, you pay 0.0005BTC when you transfer 1,000 BTC. You can pay the fee as low as possible you want.

Can You Receive Bitcoin When Your Computer Is Off?

As we know, Bitcoin is operated through your own computer. The wallet should be installed on your computer. However, what will happen if your computer is off? Can you still receive BTC? You can receive BTC after you start the application of your wallet. So, everyone can send money to you anytime and you will receive it after you start the application. That is why Bitcoin transaction is flexible because it can be made anytime.

The Synchronization of Bitcoin

One of the processes of transaction is synchronization. It may take long because it needs the full connection. It functions to verify all the transactions on the network. You may need to pay attention to it to know your current balance. Anyway, this step can keep your transaction safe. So, you have to pay attention to it more detail. Hopefully this will be a good reference for you to make transactions using Bitcoin.

Description: Bitcoin can be used for transactions safely. It may need 10 minutes to be confirmed. You can also decide the fee by your own. Then, you can receive BTC anytime and it needs to be synchronized to keep it safe.

There are many countries that prohibit or at least limit foreign currency. Usually they do not legalize the virtual currency including Bitcoin. This digital currency is now increasingly more popular. With the easiness, people can make transactions more easily and freely. However, you have always to remember that this digital currency is not controlled by the government or any other institution. So, it can be said that it is not legal. However, it does not mean that this is prohibited.

Bitcoin for Illegal Activity

As it is mentioned above, Bitcoin is not controlled by the government or even any institution. So, it is not legal. From this status, people worry that this digital currency is used for illegal activities. It may be possible. However, money whether it is cash or not such as credit card and banking can also be used for illegal activities. For example, people use their money to buy weapons. Therefore, Bitcoin legacy does not affect the activity because it depends on how people use it.

The Regulation of Bitcoin

This digital currency allows the users to use the software freely depending on their desire. So, there is no one or institution that can regulate it. However, some countries prohibit Bitcoin. So, the regulation may depend on the rules in your own countries and different countries have different rules. The rules may also be easy or not. Overall, Bitcoin regulation should be adjusted to your own country.

The Tax of Bitcoin

Digital currency is different from conventional currency. It is only available in digital world. For the real currency, have to pay some taxes such as profit, salary, selling, or other taxes. However, this digital currency is not a legal currency so that everyone who uses it has no obligation to pay any tax. You may only need to pay administration or transaction fee but it is also very low because the fee depends on yourself. It becomes the greatest benefit of Bitcoin.

The Protection for the Users

There are many users of this digital currency over the world. However, it allows all the users to make transactions with their own rules. So, all the transactions become their own responsibility. If there is something unexpected such as the address or wallet of your Bitcoin is hacked or stolen, there is no one who is responsible except you. Therefore, you have to keep and protect your privacy such as the password of the wallet.

Description: Bitcoin is not legal because it is not controlled by the government or any institution. So, you have to make transaction rightly and keep your privacy to make your wallet safe.