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9 Things About The Powerful Online Money, Bitcoin

By SiliconIndia  |   Sunday, 18 August 2013, 20:15 Hrs
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Bangalore: Online shopping is transforming in to a norm these days, and electronic money pays a pivotal role when it comes to transactions. We are used to the idea of swiping the credit/debit card at shopping outlets or entering the card details to buy online, but then there is another novel way to do it; through Bitcoins.



Bitcoin is a cryptocurrency that can be transferred through a computer or Smartphone without an intermediate financial institution. And they are as real a currency as you want it to be. Bitcoins are becoming powerful day by day and it might one day turn to the only way to conduct transactions.



Here are 9 points that you want to know about Bitcoins as compiled by Economic Times.



#9 Getting Started



First step to get your Bitcoins currency is by signing up for free at www.coinbase.com or at any international digital wallet that accepts Bitcoins. Once signed up you will get an ID, essentially a alpha-numerical string to be used for each of Bitcoins transactions. The account can also be created offline with free software tools like Armory (www.bitcoinarmory.com).



Read Also: Notch Coders In India Lives Here and Indians Develop Low-cost, Secure NFC Alternative



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