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Ready For Bitcoin? Now Get A Wallet!

Congratulations! You have decided to try out Bitcoin and are now ready to face a brand new world of online payments. To get you started, you are going to need a Bitcoin wallet.

A Bitcoin wallet is any device or software that will facilitate all your transactions, whether it is to send money or accept payments. There are different kinds of wallets so it would be best to choose one that will ultimately match your lifestyle. There are wallets available for your browser, mobile phone, tablet or desktop, and there are also wallets that come in the form of cards and USBs.

It is important to remember that your Bitcoin wallet does not hold actual bitcoins. Instead, it holds two very important keys: your public key and your private key. Continue reading Ready For Bitcoin? Now Get A Wallet!

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The Democratic Solution Only Bitcoin Can Offer

Much has been said and written about the controversial cryptocurrency called Bitcoin, and we are not surprised. It is only logical for financial gurus and government-funded financial institutions to be wary of the economic impact of a digital currency that returns power to the people, because widespread usage of such might lead to the unraveling of how people think about money.

However, it is of utmost importance to consider this topic because not too many minds venture into asking the question of: why do we need Bitcoin in the first place? What is it trying to fix?

As it stands, governments around the world have monopolized the issuance of currency by controlling fiat systems and foreign exchange valuation. This leaves the rest of the world at the mercy of whatever these institutions deem is appropriate, whether we like it or not. Continue reading The Democratic Solution Only Bitcoin Can Offer

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Pros and Cons For Bitcoin Users and Merchants This 2015

A lot of people are quick to dismiss Bitcoin because of tales of misfortune that have been circulating the media. There was the security breach at Mt. Gox, the volatility of the cryptocurrency at its early stages, and the instability surfacing around the Bitcoin black markets. However, these stories are not up to date—some of them have been circulating since the days of Bitcoin’s inception in 2009—and more often than not, these news items are clickbait articles that bank on sensationalized fear. Until now, very little light is cast on the nature of Bitcoin itself.

So what is the latest score on Bitcoin? Here we outline real and un-hyped advantages and disadvantages of using the digital currency from the side of both consumers and merchants. Continue reading Pros and Cons For Bitcoin Users and Merchants This 2015

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Tips: Bitcoin Education Needed for More Consumer Use

Where Can Consumers Learn About Bitcoin?

It is no secret that educating consumers about the benefits of Bitcoin and other digital currencies in general is needed. So where can consumers turn to learn more about Bitcoin use?

  • There are many tutorials about Bitcoin available online. Recently, Instabill copywriters came across a list of the top 10 videos where consumers can learn more.
  • The Blockchain app is a free download to your smartphone. Blockchain is a valuable tool and resource – without even owning Bitcoin.
  • Curious about the value of Bitcoin? Several websites give live values including CoinDesk, one of the leading news sources on cryptocurrencies, offers live values in different currencies such as US Dollars, Euros, Great Britain pounds and the Chinese Yuan. As of Thursday morning, Bitcoin value hovered around $242 per.

Continue reading Tips: Bitcoin Education Needed for More Consumer Use

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Tips: US consumer protection bureau offers advice on Bitcoin

The US government has issued an advisory that warns about the risks that Bitcoins and other virtual currencies pose to consumers.

The six-page advisory published by the Consumer Financial Protection Bureau tells consumers what they should consider before deciding to use a virtual currency.

For example, it advises consumers to investigate the seller of virtual currencies before buying and to understand what their rights would be if the seller fails to deliver a purchase.

A virtual currency exchange operating in the United States is required to register with the US Financial Crimes Enforcement Network, which is part of the US Treasury Department, as a money services business, the advisory says. Continue reading Tips: US consumer protection bureau offers advice on Bitcoin

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