Bitcoin is an anonymous currency and, at the same time, fully transparent. All transactions in the network are public and can be used to trace the complete path of each bitcoin news in circulation. However, the persons making the transactions and the persons receiving them are included in the accounts, only as a series of numbers and characters – so-called public portfolios. The number of BTC “digital coins” is limited. For wallets installed on mobile devices, a QR code is often provided that can be scanned using a telephone.
Acquisition of Bitcoins
In addition to mining bitcoins, you can simply buy them. This can be done via the online exchange or by making an OTC transaction. OTC transactions are transactions concluded with another person – usually through a broker who manages negotiations. This is the favorite technique for citizens who want to purchase very great sums of bitcoin news (i.e., worth hundreds of thousands or millions of dollars). This is because stock exchanges have no liquidity to facilitate such large transactions.
Making transactions using Bitcoins
Making transactions using Bitcoins is very simple. If you have a specific person to whom you want to send money, all you need is their Bitcoin address, which you can enter into your Bitcoin client. If the person you are sending money to is using the same customer like you, it’s often enough to enter the email address associated with their account. Online companies that accept Bitcoin have a button that you click, which will automatically take you to the wallet, allowing you to make payments from this level.