IMPORATNCE OF BITCOIN ADDRESS IN CRYPTOCURRENCY
In the fastest growth of online transactions in the world people have joined hands to make use of the digital payments going cashless as it welcomes the cryptocurrency. The virtual money, crypto coin, digital cash all the different names which you can give to one thing is referred to as a cryptocurrency. Cryptocurrency is same as normal currency which is basically a perfect and secure medium of exchange as it is a digital wallet where the transactions are secured easily and verified using cryptography.
Basically a Bitcoin address is a singular identifier which kind of serves a very typical yet accurate virtual location where exactly the cryptocurrency can be sent. The main advantage of Bitcoin address is that it’s not constant and cannot hold a balance like a digital wallet, but it’s just a token for use in any of the single transaction.
The Bitcoin address however consists of around 26 to 35 characters (alphanumeric). In older days when Bitcoins first started, people could send currency to an IP address. That was quiet convenient at that time but as time passed it was easy to be hacked by a middle man and the IP address became insecure for such transactions. So that method was being removed and Bitcoin address was introduced as a secured one.
Basically the string generated is only the public half of asymmetric key pair and the standard format of a Bitcoin address is P2PKH which is known as pay to public kay hash. This address being generated cannot be easily hacked by a middle man as it includes cryptographic operations to perform a secured operation.
The software however generates a private key at sender through asymmetric signature and at the receiver end it derives the public key from the private one. The user at the receiver has to sign with private key and verifies that signature with generated public key. Most of the present cryptocurrencies make use of similar kind of technology for fund transfer as the Bitcoin address is basically one kind of blockchain address and plays a vital role in the world of cryptocurrency.
5 REASONS TO INVEST IN CRYPTOCURRENCIES
Bitcoin emerged into spotlight and started growing its unique place in the remarkable way. Trading cryptocurrency is now in trend and wide people invest in Crypto to gain profit which has reached above 500 million. You may need reason as to why these people invest in cryptocurrency, so they are as follows.
MONEY ALWAYS REMAINS YOURS
As the transactions are being made in a very secured and digital manner it is much faster and safer for people to use it without any kind of hesitation. In this each block contains a data which is stored in very unique manner which states that the information can never be deleted or forged. While you store your money in the bank it can be robbed any time but when you invest in cryptocurrency your money stays with you forever.
GOVERNMENT IS NOT AT ALL INVOLVED
Bitcoin gives you a revolutionary way to handle without any middle man such as bank or government are no longer required for such transactions or exchange being made. They have no access to control your actions or even track the data as digitally operations are being made. The main reason to invest in cryptocurrency is that virtual money is safe no matter what the current situation of your country is at present.
BLOCKCHAIN IS THE LEADER
This feature called blockchain can be very valuable for public transactions. Many of the countries already have bitcoin ATM’s installed with help of blockchain. Blockchain also always allows us to even handle other information as well.
INVESTING IS VERY SIMPLE AS NEVER BEFORE
Every single thing related to cryptocurrency have become easy than we can ever think. In this generation a person can access to the internet and easily free funds stored can make an easy investment.
CRYPTO’S FUTURE IN GOOD HANDS
Every real investor focuses on long period profitability rather than becoming obsessed with short term. Predicting the profit in short time is quiet risky as cryptocurrency variations are inevitable that’s why you will have to wait for a long time which is harder but will pay you good one at the end.
BEST WAYS TO EARN BITCOIN
It’s quiet fascinating that citizens have learned this fact more and more that they have joined a realm of Bitcoin every single day. There are enormous ways in which you can easily earn bitcoin but you should be careful and stay away from scams to avoid any huge lose.
WORK FOR BITCOIN
Hard work always pays off the best as earning bitcoin is one of the easiest and proper ways to earn it. There is no scam to be done in this type of service as you will be paid for what you do and there is no investment to be done before you start. There is no qualification required to earn Bitcoin such as if you are an engineer, designer or writer you can start working for bitcoins immediately. You might get confused like where to begin your journey from so here are some websites that can offer you bitcoins in exchange for your service:
EARN BITCOINS FROM TRADING
If you are good at handling the trade and have skill set of a businessman they this is yet another legit yet cost effective method to earn bitcoins with help of trading. The overall idea seems to be simple but your concentration level and awareness should be high so that you successfully trade. In this method you will be investing in various cryptocurrencies when they are low in price and further you sell them whenever they go high to attain profit.
EARN BITCOINS BY LENDING
When you have money why can’t you make them work too? This basically means that your stored money is put to work and you can some profit on it by lending it to others. Several platforms are online where you can do this while they give you a decent 10-18% return for your investment in form of bitcoins.
EARN BITCOINS FROM FAUCETS
Faucets are basically tasks which you have to perform like solving captcha, playing games, clicking on ads, completing short surveys and watching videos. For each task you do you are being rewarded with bitcoins.