To all Cointimes readers, welcome! Today, we will show you a Guide for Beginners in the world of bitcoins, with the best pages and materials that a beginner can find on the Internet, to learn the basics about Bitcoin and get started in the huge crypto-economy market.
Liked? Then show it to your friends so they can stop being afraid and start learning about the newest way to interact in the world’s economy, totally digital and independent!
How does this technology work?
For those who are completely laymen on the subject, here's a brief explanation: bitcoins are nothing more, nothing less than fully digital currencies, something I like to see as a “evolution of conventional money“.
With that, you must be wondering "But what are the advantages of this?" To answer you, it's quite simple: because it is decentralized, Bitcoin works in a way independent of banks and governments.
Bitcoin does not need a central bank, meaning you are in control of what will happen to your own currencies.
It can be seen as the currency of the internet, free money and accepted worldwide, that is, you can convert them to the currency you want, when you need it.
So, if you want to understand more deeply, you can consult our article "What is Bitcoin? What is the quote and how it works ”, from the great Isac Honorato, in addition to being able to check the price of Bitcoin live there.
What is the block chain?
First, we need to understand what that is. THE block chain (blockchain) it is the structure of the Bitcoin network, resistant to fraud, creation of counterfeit coins and theft of coins, for example.
Blockchain is basically a large “database chain” that holds transactions, and she is shared on ALL computers connected to the network.
Thanks to the “peer-to-peer” system, Blockchain becomes highly costly to be tampered with, as, like an Artificial Intelligence neural network, the Blockchain becomes increasingly secure as more computers participate.
Transaction errors such as wrong values in a purchase cannot be undone, as they are recorded for all users in a constantly growing chain.
This explanation was clearly less than half than you can learn about block chains. Want to learn a little more? Then check out our other article from "What is Blockchain and how does this technology work?"
So, what is this “Bitcoin Mining”? *
* For being a subject good complex, let's make this part much simpler. If you want to go deeper, access the hyperlinks below.
THE Bitcoin mining is a simple process to understand: the computer you are going to mine will automatically perform countless equations that serve to validate and “strengthen ”network security.
These equations serve to find the challenge that entitles the miner to write the block and earn a reward in bitcoin for the work done.
It is true that many were eager to join the mining wave at the beginning of Bitcoin: you offers your computer, energy and time, and is rewarded with coins.
As more miners enter the game, the competition for the same coins increases, aiming not to cause excessive inflation, the creator of Bitcoin has defined rules that determine what coins will be issued.
Therefore, many decided to look for other methods of profiting from bitcoin.
Okay, but where do I keep my bitcoins, "without Banks or Wallets"?
Suddenly, you have cryptocurrencies and you don't know where to keep them safe. And now? You can't protect it in a safe in your sock drawer, what to do?
Eventually, when you need to save money, you always have to find a safe place. And in the case of cryptocurrencies, it's much simpler than you think: all you need to have is a Wallet Bitcoin!
In this case, there are different types of wallets for different types of users: has Paper Portfolio, Mobile Wallets (Smartphones and other laptops), Desktop Wallets (PCs and Notebooks), and Hardware Wallets, which are similar to a “pen-drive”.
Each has its strengths and weaknesses, such as conversion between Bitcoins and Altcoins, security levels and other tools. Do you want to know more about it and discover the best Portfolios? See our article on Best Bitcoin Wallets!
And if you're concerned about your safety, rest assured! Just like the “Two-Factor Authentication“, Portfolios usually generate random keywords for each account which combined with a good password make it almost impossible to be hacked by malicious hackers.
I need to buy / sell, where do I do this?
Calm down, that we also teach! In a super simple video from Isac, we show how you can buy (and sell) Bitcoins using the Foxbit* in just 5 minutes!
If you want to read a little more about where to buy and sell Bitcoins on other sites, see here too!
* And by the way, congratulations to Foxbit for getting the ReclameAqui RA1000 seal, being the first Exchange in Brazil to receive it!
But what is this “Exchange” there?
At Exchanges, also popularly called Brokers, are the companies that practically carry out the “exchange”From his real, physical and tangible money, to those so valuable Cryptocurrencies (each with their unique rate and conversion).
It is good to add that there are many different exchanges around the world, each with its specific functions and focuses, more or less as normal banks work.
So, we made another list of the 4 Best Exchanges in the World, so you can stay connected and go after the purchase of your own coins.
Are there more cryptocurrencies besides Bitcoin? What are Altcoins?
Yes! In case you don't know, circulating the huge crypto-economic market in the world.
Currencies like Bitcash, Ethereum, Litecoin, Binancecoin and even Dogecoin are just some of the "Alternative Coins" that live in this huge ecosystem.
Many of them have their own characteristics; either to work with your own modified Blockchain, or to avoid the Halving explained above, there is no shortage of alternatives in this market (1600+).
We also did, in the middle of last year, a report on the Best Altcoins of the Moment. Go and see!
I still don't know what the word “X” means, help me!
Calm! We think about it too!
For those who fail to memorize the hundreds of terms in Cryptoeconomics, we have a huge Bitcoin Glossary with all the words you need to know.
So, you can impress everyone when it comes to starting a conversation, and still talk like a professional! (Even if these are just your first steps …)
If you made it this far, congratulations! He had a lot of courage to read all of this (unless he just skipped the text).
And if you need to, you can always come back here to check out our huge Bitcoin beginner's guide!